Bitcoin exchange BTC China no longer accepts Chinese yuans

BTC China, one of the largest marketplaces for virtual currencies like the Bitcoin, has announced that it no longer deposits in the Chinese currency yuan accepts. By the measure is the Bitcoin price fell sharply.

Through the microbloggingdienst Weibo, BTC China let you know that it’s immediately no longer make deposits in yuan accepts, reports The New York Times. It is still possible to use Bitcoin to deposit or withdraw, or Bitcoin to get paid in yuan. Also says BTC China to do research on new methods for regular currency to be able to switch to Bitcoin, but details gave the company.

BTC China, according to estimates, the largest exchange for Bitcoin in the world, would be to take this step came after the financial authorities to companies that are involved in the Chinese payment system had let them know that they are no longer things could do with ports like BTC China. The Chinese Volksbank at the beginning of this month to banks and other financial institutions are prohibited to Bitcoin to accept it as a legal tender.

As a result of the news of BTC China is the Bitcoin price in free fall come. So decreased the value of 1 BTC under the five hundred dollars, or 365 euro. The highest value that the Bitcoin posted was at the end of november: then it was 1 BTC good for $ 1200. The cryptocurrency, however, is known for its strong foreign currency fluctuations and the fact that there is no central control or guarantee system.