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IPFS News Link • Bitcoin

Bitcoin Soars Above $1100, Near Record Highs As Chinese Bypass Crackdown

• http://www.zerohedge.com, by Tyler Durden

Bitcoin just topped $1100 - near record highs - as Chinese traders shift their action off regulated-exchanges to local peer-to-peer marketplaces.

China's central bank has stepped up oversight of bitcoin exchanges this year, leading major trading platforms to impose halts on withdrawals and other checks to appease the regulator. But, as Quartz reports, Chinese traders aren't playing along—they are apparently flocking to peer-to-peer marketplaces to continue buying and selling bitcoin.

As Yuan trading on bitcoin exchanges has plummeted...


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