China Bans Payment Companies from Working With Bitcoin Exchanges - Sources Claim

[Paul]

Sources close to China?s Central Bank today reported that the institution has banned third-party payment companies from doing business with bitcoin exchanges.

A reputable source told CoinDesk that the People?s Bank of China (PBOC) met with most of the top third-party payment companies this morning.

The source said the meeting topic was unrelated to bitcoin, but digital currency became an important part of the discussion.

?PBOC, in no uncertain terms, directed third-party payment companies not to do business with bitcoin exchanges in China,? they explained.

At the moment, these claims are still rumours, as neither the PBOC nor any payment company has issued a statement to confirm what was discussed and what the outcome was. However, our source revealed they got their information from various channels, including those people who were at the meeting.

?The writing?s on the wall,? said our source, adding:

?Going forward, from this day, third-party payment companies will most likely sever their ties with bitcoin exchanges.?

They went on to say that if and when this happens, people will still be able to withdraw their money from Chinese exchanges, they just won?t be able to deposit new funds.

http://www.coindesk.com/china-bans-p...-sources-claim

Hope it isn't true China have been dumping the past 12 hours

It's gone from ¥5,244 to ¥3,751 and dropping

[JFK]

pump and dump by the Chinese ?

[Paul]

Originally Posted by JFK

pump and dump by the Chinese ?

IF the rumours are true then it's a hammer blow to Bitcoins growth in China.