Chinese Regulatory Crackdown Sends Bitcoin Lower

Bitcoin traded at its lowest levels in six months in reaction to a new round of crackdowns on cryptocurrencies from China's central bank, Reuters said. The People's Bank of China said it will investigate potential crimes involving digital currencies and added that exchanges could be "disposed of immediately," according to Cointelegraph. The announcement could also be in part politically motivated, as China wants to develop its own digital currency.

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