CHINA has emerged as the Bitcoin haven in the world. Bitcoin, the
virtual currency, has become the most trusted web-based crypto-currency to store
value and to launder money. It enables money launderers to transfer money
through hundreds of computers to the targetted destination.
With
the Chinese currency Yuan getting hammered last year, Chinese authorities have
decided to launch a crackdown on Bitocoin-based transactions. Such a decision
came after the Central Bank came to know that there was a record high demand for
Bitcoins in the first days of 2017 itself.
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