China is banning crypto currencies as a whole because money is flowing out of the country illegally.
Bitcoin is tumbling after Chinese regulators say an exchange ban is certain
AKIN OYEDELE
SEP 15, 2017, 8:10 AM
According to Bloomberg’s Lulu Yilun Chen, China Business News reported that the city of Shanghai has verbally halted bitcoin exchanges. The website Crypto Coins News further cited a local newsletter that said banning bitcoin exchanges was “certain.”
https://www.*.com.au/bitcoin-price-september-14-2017-9?r=US&IR=T
