HALISTER1: Bitcoin Falls 6% After PBOC Shanghai Inspects Trading Platform

Bitcoin Falls 6% After PBOC Shanghai Inspects Trading Platform

(Bloomberg) -- Bitcoin drops 6% after PBOC Shanghai says it conducted on-site inspection at Shanghai-based BTCChina.com to check for any violations of market manipulation, money laundering and safety of customer funds.
  • Bitcoin prices have plunged 20% from record high of $1,091.7 on Jan. 4
  • Current trading price at BTCChina.com, platform tailored to Chinese clients, dropped 9% from 24-hour high
  • Trading volume was 1.5m bitcoins on BTCChina as of today, 1.2m on Huobi.com today, 1.8m on OKCoin.cn
    • NOTE: Bitcoin trading could only accommodate a small fraction of funds leaving China, Bloomberg Intelligence says
  • NOTE: BTCChina, Huobi.com, OKCoin.cn are major bitcoin trading platforms providing services to Chinese clients
  • NOTE: Jan.9, China to Study Bitcoin Custodian Platform: Securities Journal
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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