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Having begun strengthening of yuan, the Chinese ruined Bitcoin

Electronic cash Bitcoin have fallen sharply, after it reached the historical maximum. Analytical edition CoinDesk writes about it.

According to the statement, in the morning of January 5, cryptocurrency reached a historical high of 1153.02 dollars. At the moment, bitcoin exchange rate fluctuates from 1071 dollars to 887.47 dollars. This, according to CoinDesk analysts, is the lowest level recorded at BPI since 25th of December 2016. Falling prices for bitcoin may occur against the backdrop of China Central Bank's operations, strengthening yuan, analysts say.

In Japan, Bitcoin is legal tender. In the near future, Canada plans to integrate bitcoin into its economy at the legislative level.

In January 2014 the Bank of Russia has warned that transactions with "virtual currencies" are speculative. On March 20, 2015, Deputy Finance Minister Alexei Moiseev said that in 2015 there will be a law that provides for punishment for the use of money surrogates in the territory of Russia. On October 26, 2015 "Izvestia" reported that Russia's Ministry of Finance decided to introduce penalties for the production and turnover of bitcoins. Originally the designated Office has prepared a bill according to which the offenders were supposed to be put to jail for up to four years, but in the end the Ministry of Finance completely abandoned these plans.

In China, as in many other countries around the world, Bitcoin transactions are prohibited for banks, but allowed for individuals.

Source: cont

  • January 9, 2017 4:49 PM MSK