The Wall Street Journal | By: Chao Deng | September 18, 2017:
Chinese authorities are moving toward a broad clampdown on bitcoin trading, testing the resilience of the virtual currency as well as the idea its decentralized nature protects it from government interference.
Regulators have decided on a comprehensive ban on channels for the buying or selling of the virtual currency in China that goes beyond plans to shut commercial bitcoin exchanges, according to people familiar with the matter.
Officials communicated the message to several industry executives at a closed-door meeting in Beijing on Friday, according to people who were at the meeting.
Until last week, many entrepreneurs in China’s bitcoin circles had thought authorities might shut down only commercial trading activity while tolerating peer-to-peer, or over-the-counter, bitcoin platforms, which enable buyers and sellers to find each other and trade directly.
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