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China central bank crackdown pushes down Bitcoin value

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Bitcoin prices have tanked after China signalled it is stepping up scrutiny of the virtual currency. Image: Browsing an online Bitcoin shop in China. (AAP)


Its value soared to record highs of almost $1,500 per unit at the end of 2016, largely thanks to strong demand from within China.

 

But in this report, China's central bank has announced investigations into the country's biggest Bitcoin exchanges - causing the currency to plunge.

 

 

 


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