But isn't bitcoin supposed to be beyond government control?

Section:

Bitcoin Tumbles on Report China to Shutter Digital Currency Exchanges

By Gertrude Chavez-Dreyfuss and Angela Moon
Reuters
Friday, September 8, 2017

NEW YORK -- Bitcoin fell sharply today after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback.

Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China.

Reuters was not immediately able to verify the report.

The news follows China's move earlier this week to ban so-called "initial coin offerings," or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects. ...

... For the remainder of the report:

http://www.reuters.com/article/us-bitcoin-china/bitcoin-tumbles-on-repor...



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