Big China bitcoin exchange says no government pressure on outflows
The head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and despite a publicized meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows.
Bitcoin's price took a steep dive on Friday after China's central bank cautioned investors to take a rational and careful approach to investing in the digital currency. The price had surged to record highs.
The central bank's comments come as Beijing escalates a campaign to check capital outflows and slow the depreciation of the yuan currency CNY=CFXS, which lost nearly 7 percent of its value against the U.S. dollar last year.
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