Bitcoin, the increasingly popular encrypted digital currency, will not be traded at Chinese banks.
The Chinese government sent down the order on Thursday, saying that while trading in the digital currency is allowed for Chinese citizens, they cannot head to banks and attempt to exchange them for real currency. The government claims that Bitcoins pose a potential risk to the financial system. A posting on the People's Bank of China said the effort is tied to the government's desire to limit money laundering.
Bitcoin's popularity has prompted governments around the world to take a hard look at … Read more