“Trading in bitcoin is quietly making a comeback to China, after investors adopted practices developed through financial innovation during recent years to trade in the virtual currency, reports Guangzhou's 21st Century Business Herald.
There seems to be a neverending controversy surrounding bitcoin, in part caused by regulatory risk, such as the Chinese central bank's ban on trading of the volatile currency by banks and third party payment services, the newspaper said.
The ban, which was introduced after a surge in bitcoin's value beginning in early 2013, with half of the global transactions taking place in China, led to trading plunging to just a tenth of the peak levels.
However, modern technology and financial innovation have allowed new businesses involving bitcoin to emerge in China, including companies mining the currency for investors, the newspaper said.”
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