Bitcoin Trading Faces Greater Scrutiny in China – Wall Street Journal

In a development that could hurt bitcoin trading in its biggest market, Chinese banking regulators say two bitcoin exchanges in Beijing improperly engaged in margin financing and failed to impose controls to prevent money laundering.

The action by China’s central bank signals heightened government scrutiny of bitcoin trading on the mainland, which has been allowed to expand largely unfettered since 2013.

“These exchanges have…

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