Frank Heine

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China bans banks from trading in Bitcoin

The price of bitcoins may be soaring, but China isn’t too thrilled with the virtual currency. On Thursday, the nation moved to regulate use of bitcoins, stating that its financial institutions could not deal in the virtual currency.<p>”The bitcoin is a special kind of virtual product, it does not have …

Cryptocurrency

China Bars Banks From Using Bitcoin and Other News You Need to Know

Welcome to this morning's edition of "First To Know," a series in which we keep you in the know on what's happening in the digital world.<p>Today, we're …

Bitcoin Crashed Today

Bitcoin's value plummeted today, by 25% from a high of over 1100 US dollars per BTC to a low value of under 830. The virtual currency, whose value has increased five-fold in just over one month, has been at risk of such a spectacular crash due to speculative investment in the now multibillion …

Bitcoin in China: The Fall-out From Chinese Government Banning Real World Use

Bitcoin’s value took a tumble this week after the People’s Bank of China issued an official statement about its stance on the digital coin, knocking the cryptocurrency’s value down into the $800s after lofty $1200 highs. China has been largely responsible for Bitcoin’s dramatic 500% rise in value …

Bitcoin price plunges on Baidu payment ban

NEW YORK (MarketWatch) -- The price of bitcoin fell over 24% from its daily high on Friday after Chinese Internet company Baidu BIDU, -0.27% said it …