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Dec. 5 (Bloomberg) -- China’s central bank barred financial
institutions from handling Bitcoin transactions, moving to
regulate the virtual currency after an 89-fold jump in its value
sparked a surge of investor interest in the country.
have the same legal status as a currency, the People’s Bank of
China said. The public is free to participate in Internet
transactions provided they take on the risk themselves, it said.
China’s capital controls. Regulatory oversight may restrain
demand for Bitcoin in China, which exchange operator BTC China
said has become the world’s biggest trader with more than half
of global volumes. The surge in Bitcoin has spurred investor
protection concerns and prompted former Federal Reserve Chairman
Alan Greenspan to call it a “bubble.” Prices plunged after the
PBOC announcement.