Chinese banks cannot trade in Bitcoins, the digital currency that doesn't recognize international boundaries, China's top regulators said Thursday. "China is the world's biggest market for Bitcoin and has helped drive its explosive appreciation this year. Today the People's Bank of China appeared to prick the Bitcoin bubble here." As Reuters reports, "Chinese nationals are major participants in the [Bitcoin] market and hold an outsized share of the total number of Bitcoins in circulation. Shanghai-based BTC China has recently become the world's largest Bitcoin exchange by volume." "I have a cousin that's a dentist, and I had a toothache right before we were leaving on our trip. So he agreed to see me, and I set him up to take Bitcoin. And then a couple days ago he called me, and he was like, 'So, I haven't cashed in my Bitcoin, and I just checked the balance and it's really high now.'".
Source: NPR
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