Bitcoin Slips Again as China Adds Clarity to Ban
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Bitcoin is lower once again Tuesday as news rolls out of China that officials have told third-party payment services providers to stop offering services for Bitcoin clearing exchanges.
Bloomberg cites China Business News in saying that the People's Bank of China (PBOC) expects those services to end by Chinese New Year, which is a week-long holiday that begins on January 31, 2014.
China's ban on Bitcoin began on December 5th and included transactions from financial institutions and payment providers.
Bitcoin has been lower on speculation that the PBOC will visit lenders next to enforce the code.
After reaching $850 last Friday, Bitcoin has been in the $690 to $700 range today.
Bloomberg cites China Business News in saying that the People's Bank of China (PBOC) expects those services to end by Chinese New Year, which is a week-long holiday that begins on January 31, 2014.
China's ban on Bitcoin began on December 5th and included transactions from financial institutions and payment providers.
Bitcoin has been lower on speculation that the PBOC will visit lenders next to enforce the code.
After reaching $850 last Friday, Bitcoin has been in the $690 to $700 range today.
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