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|Bitcoin's Value More Than Halves Following China's Action To Restrict Trade In The Currency|
| 3:38 pm on Dec 18, 2013 (gmt 0)|
|Bitcoin has fallen to less than half the value it recently traded for, following reports of fresh action by Beijing to restrict trade in the virtual currency. |
BTC China has said that local payment companies have been blocked from providing it with clearing services.
It means that the firm - the world's biggest Bitcoin exchange in terms of trading volumes - can no longer accept yuan-based deposits.
Prices tumbled following the news.
One bitcoin was trading for as low as 2,560 yuan ($421, £258), according to the South China Morning Post.Bitcoin's Value More Than Halves Following China's Action To Restrict Trade In The Currency [bbc.co.uk]
Accept Bitcoin to create a buzz? [webmasterworld.com]
Bitcoin's Value Surges Ahead Of U.S. Senate Hearing [webmasterworld.com]
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