China Bans Bitcoin Trade

In addition to clamping down on initial coin offerings for crypto currencies, Chinese officials have decided to ban commercial trading services for virtual currencies. “too much disorder was naturally a basic reason” for the ban. The new regulations are still in draft form, but the decision to ban is set in stone. This change will neither completely outlaw trading in crypto currencies nor put Chinese exchanges out of business.

Shanghai Business Review is the leading English language website and print magazine for business leaders conducting business in China.