Chinese Bitcoin Exchange ViaBTC Shutting Down

Bitcoin Dives on Dimon's Fraud Warning

Although the body is not a formal regulator, it was set up by the People's Bank of China and was approved by the State Council, so can be considered to be government-backed.

BTC China (比特幣中國) said on its Web site it will "stop all trading business" on September 30. The outlet does not say when the exchanges must close their operations, but there are several indications that the set date is September 30.

Coutinho still out of contention for Liverpool
Much has changed since then, particularly for the Andalusian outfit who have a different coach and a number of different players. City are more than capable of causing Liverpool problems themselves, of course, but losing Vincent Kompany is a major blow.

Before 20 September 6pm, exchanges shall determine a bank account, which will be used for depositing user funds. Despite its halt to local trading, Shanghai-based BTCC, the world's oldest bitcoin exchange, said its other businesses, including an worldwide exchange and a bitcoin mining pool, remain unaffected. With sanctioned Bitcoin-to-fiat trading looking to stop in China altogether, the major market influence will disappear.

With all the panic selling following the Chinese government's renewed crackdown on bitcoin exchanges, it's important to remember that the country is no longer the trading hub it once was.

Steven Mnuchin requested a government jet for his honeymoon in Europe
He said he was "incredibly hopeful" a tax plan could be enacted this year, adding it could be retroactive to January. A written request was made by Mr Mnuchin's office for the military plane but ultimately it was not pursued.

The selloff accelerated on Tuesday, after J.P. Morgan Chase CEO Jamie Dimon called the cryptocurrency a fraud that was "worse than the tulip bulbs" and that "won't end well".

Beijing-based platforms OkCoin and Huobi, which are among China's biggest exchanges, said on Friday that they planned to stop yuan-based trading by October 31, confirming earlier reports. "Chinese volumes account for less than 10 percent of global volume - they are no big deal", said Charles Hayter, founder of cryptocurrency analysis website Cryptocompare. Both bits of news have sent shockwaves through the larger cryptocurrency community around the world, and bitcoin enthusiasts in particular are wondering what will become of the most popular cryptocurrency on the globe. The real reason is believed to be BTCC's recently launched cryptocurrency ICO platform, shut-down of which made the parent company undergo some changes as well.

Spain prosecutors threaten to arrest Catalan pro-referendum mayors
Judges are now considering whether the legislation contravenes Spain's constitution, which states the country is indivisible. Spain's Constitutional Court suspended the vote after Prime Minister Mariano Rajoy challenged it in the courts.

Bitcoin's perceived anonymity has been an important part of its growing appeal but also exposes the currency to claims that it is linked to the drug trade and other illegal activities. This corresponded with an instant upswing in crypto markets with Bitcoin alone gaining $400 in just minutes. "One can't help but wonder if Mr Dimon's comments regarding cryptocurrencies would apply to JP Morgan's own offerings, should they come to market?"

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