January 25, 2017 / 9:37 AM / in a year

China central bank to keep up spot checks on bitcoin exchanges

BEIJING (Reuters) - China’s central bank will continue to conduct spot investigations on bitcoin exchanges, its Beijing head office said on Wednesday, in a statement on its website.

A Bitcoin logo is displayed at the Bitcoin Center New York City in New York's financial district, U.S. on July 28, 2015. REUTERS/Brendan McDermid/File Photo

The People’s Bank of China (PBOC) this month launched spot checks on BTCC, Huobi and OkCoin, to identify a range of possible rule violations, as the government steps up efforts to stem capital outflows and relieve pressure on the yuan currency.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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