BEIJING—China’s central bank is moving to regulate its domestic bitcoin industry, circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.The move to regulate bitcoin exchanges brings assurance that Chinese authorities will tolerate some level of trading, after months of uncertainty.A draft of the guidelines also indicates they aim to bring practices... Most Popular Videos Film Clip: 'The Big Sick' Lower Your Wireless Bill With These Tips 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame A New Road to Income: Barron's Buzz Film Clip: 'The Beguiled'Chinese investors looking for a refuge from the weakening yuan are turning to bitcoin.Total trading in the virtual currency reached 47 million bitcoins last week, the highest-ever level based on data going back to 2011.Prices meanwhile hit a more-than four-month high of $742.46 on Wednesday, according to CoinDesk data.

The vast majority... Most Popular Videos Film Clip: 'The Big Sick' Lower Your Wireless Bill With These Tips 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame A New Road to Income: Barron's Buzz Film Clip: 'The Beguiled'bitcoin regulation russiaChinese investors are pumping up bitcoin again, sending prices up nearly 16% in the past four days, just two years after the country was at the center of a boom and bust in the crypto-currency.litecoin make walletThe four-day surge in bitcoin since Friday has added $1.2 billion in market capitalization for all bitcoin in circulation, according to data from blockchain.info.bitcoin usage increaseOn Monday, prices moved up as high as $525.49 per bitcoin, though that’s still... Most Popular Videos Film Clip: 'The Big Sick' Lower Your Wireless Bill With These Tips 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame A New Road to Income: Barron's Buzz Film Clip: 'The Beguiled'best litecoin pool

The 16% jump in bitcoin’s price in the past four days has largely been driven by Chinese investors, according to The Wall Street Journal, despite government efforts to curb bitcoin trading.The surge, which pushed bitcoin to $525.49 on Monday, has added $1.2 billion in market capitalization.bitcoin france regulationThe surge is also credited to the expected drop in bitcoin supply next month due to an expected cap on bitcoin supply.lost bitcoin wallet have addressOkCoin and Huobi, Chinese bitcoin exchanges, collectively account for 92% of world bitcoin trading.ethereum news koreaChinese investment could reflect a move away from certain asset classes in search of better returns, the article noted.comprar usando bitcoin

There has been massive investment in bonds, equities and commodities in the past year.Surges in investing have been followed by price collapses when funds move to other assets.Du Jin, chief marketing officer at Huobi, said funds are presently in search of investment vehicles.bitcoin wert euroThe exchange has experienced a growth in new registrants in the past month, he said.There is also an expectation that a new supply of bitcoin will subside next month that could also be fueling the current price surge.A mechanism (known as “halving”) cuts the number of bitcoins created through bitcoin mining every four years in order to limit supply.Observers say there are other factors specific to China fueling the price surge.Hudoba’s Du Jin said there have been stories about scams in peer-to-peer financing that are pushing investors to more innovative types of investing such as bitcoin.The bitcoin network also provides ways for traders to move funds beyond the country’s tightly-controlled borders by accessing digital platforms via the Internet.

Bitcoin, when priced in Chinese yuan on mainland Chinese bitcoin exchanges, trades at a 7.2% premium compared to counterparts that price the currency in U.S.., an industry tracker.China’s premium bitcoin prices have sustained for the last five months, indicating the country’s demand accounts for a lot of the recent price gains, according to Zennon Kapron, the author of a book on bitcoin and founder of Kapronasia, a financial technology consultancy.Also read: China’s central bank cuts rates, again.More BTC adoption in the offing?Kapron said investors are worried about the yuan’s decreasing value.The Chinese are protecting their investments by converting yuan to bitcoin.A faltering economy, banks and financial institutions that are sweating, the falling yuan and economic inflation are all factors contributing to China being the sole reason for 80% of the global bitcoin trading volume, CCN reported in October.Bitcoin is popular in China.As more factors emerge for the masses to look into finances and governance, there might yet be more bitcoin adoption in China.

Under heightened scrutiny from Chinese regulators, China’s three largest bitcoin exchanges will seek to rein in speculation in the virtual currency by charging trading fees.BTCC, Huobi and OKCoin plan to charge customers 0.2% per transaction starting at noon Tuesday, each said on its website.All three said that the change aims “to further curb market manipulation and extreme volatility.” Central-bank officials started... Most Popular Videos Film Clip: 'The Big Sick' Lower Your Wireless Bill With These Tips 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame A New Road to Income: Barron's Buzz Film Clip: 'The Beguiled'Digital gold is starting to look slightly more stable than its physical counterpart.Since its inception several years ago, bitcoin has seen wild prices swings as advocates have tried to establish the nascent technology as a widely-used digital currency.But for the past three weeks, the price volatility of bitcoin has remained below or equal […] Subscribe or Sign In Popular on WSJ Most Popular Videos Film Clip: 'The Big Sick' Lower Your Wireless Bill With These Tips 'Bridge Crew': Voice Command Comes to 'Star Trek' VR Videogame A New Road to Income: Barron's Buzz Film Clip: 'The Beguiled'