Bitcoin tumbles as China plans investigations

|By:, SA News Editor

The price of Bitcoin (OTCQB:BTCS, COIN) fell by around 10% after the People's Bank of China announced plans to inspect Bitcoin enterprises.

The checks will include evaluations of correct licenses, implementing anti-money laundering systems and whether there is market manipulation.

Following the announcement, the crypto-currency fell from around $915 to as low as $784.56.