Source: / by Tyler Durden / Sep 9, 2017 4:01 PM

One day after Bitcoin crashed on a massive surge in volume, following a report in China’s Caixin website that Chinese authorities plan to shut local Bitcoin exchanges….

… there is still far more confusion than clarity about what is really going on in China: so far there has been no official statement from either the PBOC or China’s financial regulator, confirming or denying the report, which spooked millions of Chinese bitcoin (and ethereum and litecoin) holders into dumping their digital currencies. As a reminder, this is the gist of the Caixin report:

 The central government’s office overseeing internet financial risks has ordered local authorities to shut down virtual exchanges trading digital currencies with the yuan, a source close to the office told Caixin. The order will affect major Bitcoin platforms such as OKCoin, Huobi and BTC China.


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