Bitcoin\u2019s price fell 10% this week when the People\u2019s Republic of China announced their intent to investigate companies using bitcoin (CNBC). As explained in the article, \u201cChinese investors dominate the global bitcoin volume trade\u201d which has led Chinese authorities to question whether the use of this financial system is having a negative effect on the renminbi (CNBC).<\/p>\n
The idea that a national government is looking into an peer-regulated system like bitcoin begs the question of how far does a country’s jurisdiction reach in regulating its own citizens\u2019 use of such system. This investigation, at least according to the article, indicates that the Chinese government is attempting to reduce Chinese bitcoin users\u2019 exchanges. Because of its large presence in China, it will be very interesting to see how authorities will investigate whether or not this digital currency has a significant effect on the renminbi, their national currency. In the age of skepticism of financial information systems, the whole world will be watching and waiting to see how the bitcoin will react and whether or not this peer-to-peer financial system can withstand this economic superpower. (WC 183)<\/p>\n
Reference: http:\/\/www.cnbc.com\/2017\/01\/11\/bitcoin-falls-5-as-china-plans-to-investigate-firms.html<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin\u2019s price fell 10% this week when the People\u2019s Republic of China announced their intent to investigate companies using bitcoin (CNBC). As explained in the article, \u201cChinese investors dominate the global bitcoin volume trade\u201d which has led Chinese authorities to question whether the use of this financial system is having a negative effect on the … Continue reading Bitcoin – Under Investigation by China<\/span><\/a><\/p>\n","protected":false},"author":1808,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-12","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"lphoa","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/lphoa\/"},"qubely_comment":0,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Bitcoin\u2019s price fell 10% this week when the People\u2019s Republic of China announced their intent to investigate companies using bitcoin (CNBC). As explained in the article, \u201cChinese investors dominate the global bitcoin volume trade\u201d which has led Chinese authorities to question whether the use of this financial system is having a negative effect on the…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/12","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1808"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=12"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/12\/revisions"}],"predecessor-version":[{"id":19,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/12\/revisions\/19"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=12"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=12"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}