Posted 12/05/2013 at 12:15 PM
Posted 4 years ago
On Thursday, the Chinese government declared that the digital currency known as Bitcoin will be banned from use in China’s banks. The Chinese government see it as posing a financial risk to the country’s fiscal stability.
Bitcoin is used by China’s citizenry for personal use. While other governments around the world continue to learn the ins and outs of Bitcoin — which is untraceable and anonymous — China has acted definitively.