ZeroHedge – Bitcoin Tumbles After PBOC Rumors Confirmed – 17 December 2013

ZeroHedgeUPDATE: The earlier rumors have been confirmed: People’s Bank of China told more than 10 third-party payment service providers yesterday not to give clearing services to online Bitcoin exchanges, China Business News reports, citing a central bank meeting with the companies. This news is pressuring Bitcoin to $678 (on Mt.Gox) but more notably, BTC China rates imply a $588 equivalent price down 57% from its highs. From a $100-plus premium, BTC China now trades $130 cheap to Mt.Gox as the ‘arb’ flips.

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