On Thursday, Chinese Bitcoin exchange BTCChina has announced to stop trading on September 30, 2017.
As investors and speculators flocked to domestic exchanges, China has boomed as a Crypto currency trading country in past few years.
Just hours after BTCChina announced its closure, Chinese news agency Yicai reported that the government is planning to shut down all Bitcoin exchange centers probably by the end of September 2017.
BTCChina told media that its closure is based on a report received from Chinese authorities that were based on risks involved in these cryptocurrency investments and ordered a ban on initial coin offerings.
This ban by Chinese authorities and warnings by other countries to their companies has raised a concern to the investors overall about the survival of crypto currencies and this investment module.