{"id":229957,"date":"2017-09-20T12:35:13","date_gmt":"2017-09-20T10:35:13","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=229957"},"modified":"2017-09-20T12:36:32","modified_gmt":"2017-09-20T10:36:32","slug":"china-starts-shutting-down-bitcoin-exchanges","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/229957-china-starts-shutting-down-bitcoin-exchanges.html","title":{"rendered":"China starts shutting down Bitcoin exchanges"},"content":{"rendered":"<p>China has launched its plan to shut down Bitcoin exchanges in\u00a0Beijing and Shanghai, according to the <a href=\"http:\/\/www.bbc.com\/news\/business-41320568\" target=\"_blank\" rel=\"noopener\"><strong>BBC<\/strong><\/a>.<\/p>\n<p>The report stated that all Bitcoin exchanges in the cities must submit their plans for how they will close their operations.<\/p>\n<p>The move comes after the country <a href=\"https:\/\/mybroadband.co.za\/news\/business\/227605-china-declares-initial-coin-offerings-illegal.html\" target=\"_blank\" rel=\"noopener\"><strong>banned initial coin offerings<\/strong><\/a>, and\u00a0BTCChina announced it will <a href=\"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/229211-btcchina-exchange-to-stop-trading-on-30-september.html\" target=\"_blank\" rel=\"noopener\"><strong>stop trading<\/strong><\/a> at the end of September.<\/p>\n<p>China said the banning of Bitcoin exchanges is part of a move to reduce\u00a0the country&#8217;s financial risks.<\/p>\n<p>The Chinese central bank stated that cryptocurrencies are &#8220;increasingly used as a tool in criminal activities such as money laundering, drug trafficking, smuggling, and illegal fundraising&#8221;.<\/p>\n<p>The price of Bitcoin fell from highs of $5,000 to $3,000 last week following speculation that China would ban exchanges, but has since rebounded to $3,900.<\/p>\n<h3 class=\"my-4\">Now read:\u00a0<a href=\"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/229841-bitcoin-jesus-says-the-cryptocurrency-will-split-again.html\" rel=\"bookmark\">\u201cBitcoin Jesus\u201d says the cryptocurrency will split again<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>China has launched its plan to shut down Bitcoin exchanges, according to a report.<\/p>\n","protected":false},"author":23,"featured_media":95299,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187,129],"class_list":["post-229957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-china"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/229957"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=229957"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/229957\/revisions"}],"predecessor-version":[{"id":229959,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/229957\/revisions\/229959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/95299"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=229957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=229957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=229957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}