China Bitcoin Exchange Ends Third-Party Yuan Cooperation
Updated Dec. 18, 2013 9:00 p.m. ET
The value of one bitcoin plunged as much as 38% against the dollar Wednesday, highlighting the risks for investors in the virtual currency and merchants who accept it as payment.
Investors fled after a Chinese exchange said it no longer would permit customers to trade yuan for bitcoin. The announcement fueled concerns that restrictions in China, a major bitcoin marketplace, could halt the four-year-old currency's explosive growth.
