BEIJING—Bitcoin can’t catch a break in China. Chinese authorities ordered the closing of operations that create a large share of the world’s supply of bitcoin, tightening a clampdown that has already shuttered exchanges for the trading of cryptocurrencies in China. A multiagency government task force overseeing risks in Internet finance issued...
Chinese authorities have begun to shut down bitcoin mining operations in a tightening of the crackdown already resulting in cryptocurrency exchanges being shuttered. The People’s Bank of China (PBOC) has announced that it will ban all forms of virtual currency trading and investment by January 2018.