"It means platforms facilitating trading between virtual currencies and legal tenders will not be allowed in China", the source said.
According to the reports, the ban will be limited to exchange-based trading and will not affect over-the-counter transactions.
China accounts for 23 percent of all Bitcoin trades and houses some of the most successful Bitcoin miners. "Old users will definitely still trade, but the entry threshold for new users is now very high".
Detroit Lions cage the Arizona Cardinals, 35-23
The Lions will gain yards, but the defense won't be able to get off the field if they give up cheap yards after contact. And second-year defense end Anthony Zettel posted the Lions' only sack of the game, and just the second of his career.
Investors in China have been using Bitcoin as a way to protect themselves should the yuan fall in value.
What is clear is that China has completely banned ICOs and will punish any companies that attempt to offer them.
Trading volume would definitely shrink. Bitcoin has shot up around 600 per cent in dollar terms over the past year, which has stoked fears of a bubble. The People's Bank of China has done trial runs of its own prototypecryptocurrency, taking it a step closer to being the first major central bank to issue digital money.
"There has been a general tightening of the screws on regulating financial and monetary conditions", said Mr Mark McFarland, chief economist at Union Bancaire Privee.
There are conflicting information regarding China's alleged order for virtual currency exchanges to shut down, as several Chinese exchanges such as Huobi and Okcoin have said they haven't any orders from the government.
All three venues reported transactions yesterday, with bitcoin rising 6.3 per cent on OKCoin as of 11.56am local time.
Even before the effect of this news died down, we received the reports of such a ban on exchanges and this led to the crashing of the bitcoin prices back to its lows of the range at the $4000 region.
China has been casting its shadow on the price of cryptocurrencies in the past week.
The New York Giants head down to Arlington to take on the Dallas Cowboys for the first Sunday Night Football game of the season. The diminutive receiver led the team in receptions a year ago with 75, making him an especially effective play in PPR leagues.
The Huskers offense, though, went three-and-out and punted to OR , which took possession with 10:10 remaining until halftime. New quarterback Tanner Lee threw for two scores and no interceptions in his Nebraska debut, but forced a few throws as well.
I wish him all the best and all the success. "I am confident that he would contribute to the development of the nation", he said. For Goyal, the railways high operating ratio, which reflects poor financial health, will also be a matter of concern.
Pittsburgh Steelers and Cleveland Browns will fight it out in a 2017 National Football League regular season matchup on Sunday. He finished 20 of 30 for 222 yards, but was guilty of holding onto the ball too long and put himself at risk with a few runs.
The quake was felt in Mexico City which is more than 650 miles from the epicenter, with people fleeing apartment buildings. At least five people have been killed, including two children, in the Mexican state of Tabasco, KCTV5 News reported.
Ohio State is plenty capable of moving the football but to outscore the Sooners by a touchdown in this game is very debatable. OU's playoff chances faded last September with losses to Houston and Ohio State in the season's first three weeks.
Over that time period, it will shift its focus to growing brands Old Navy and Athleta and open about 270 of those stores. The company announced this week that it will close 200 poor-performing Gap and Banana Republic stores.
Omar al-Soma, who had not played for Syria in five years, returned from Saudi Arabia and was the hero with the tying goal. It won't be the first time the Syrian spirit has been tested and Ayman Hakeem will not budge in front of the challenge.
The concert was the Grammy winner's first official live performance since giving birth to her son, Eissa, in January. Janet met with one special person, Brid'gell Rice, who suffers from epilepsy and had a seizure early that morning.
Crane cracks and falls in Miami
Miami Heat officials said some of the arena's exterior paneling was damaged, but there was no structural damage. Abby Ape lives near where the crane collapsed in downtown Miami . "AVOID THE AREA!" the city's tweet said.
Cubs, Brewers set to meet at Wrigley Field
Nelson was the winning pitcher, and his 2017 season comes to an end with the pitcher having won each of his last three starts. Their confidence and resilience has been strong all season, and there's no reason to believe that will change any time soon.
Hurricane Katia continues in southwestern Gulf
El Niño is a naturally occurring phenomenon characterized by warmer-than-normal water in the eastern Pacific equatorial region. The country was battered by Hurricane Matthew past year , which killed more than 270 people across the Caribbean.
News Use Across Social Media Platforms 2017
Ever since Facebook acquired Instagram in 2012, the two apps have mostly been kept separate, according to TechCrunch . In a statement, an Instagram spokesperson confirmed the test, but declined to share more about the company's plans.