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China Cracks $64 Billion `Underground Bank’ Moving Money Abroad

November 24th, 2015 | by BTC News
China Cracks $64 Billion `Underground Bank’ Moving Money Abroad

China Cracks Billion `Underground Bank’ Moving Money Abroad
China said it cracked the nation’s biggest “underground bank,” which handled 410 billion yuan ($ 64 billion) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this …
Read more on Bloomberg

Bitcoin Down, Chinese Sites Trade at a Premium
Currently most Chinese exchanges are selling bitcoins at 2,167 Yuan, or $ 341 dollars. This is a fantastic premium of $ 24 dollars above the highest price on USD exchanges. Many theories have sprung up to explain the cause behind the meteoric rise on …
Read more on Forex Market (blog)

Is China Turning To Bitcoin As Yuan Devalues?
China is seemingly buying up a lot of Bitcoin and alternative currencies like gold right now. The devaluation of their currency has been slashed over the course of the past month. The country’s Foreign Exchange Commission has ordered financial …
Read more on Inside Bitcoins

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