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The bitcoin-US dollar exchange rate ( BTC/USD ) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme. Following reports the country's regulators  may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) this weekend. The rumor comes a week after the People's Bank of China (PBOC) banned  initial coin offerings (ICO), suddenly outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects. The confusion about what might lie ahead cut short bitcoin's ascent on Friday following a repeated technical failure around $4,650 levels, and the subsequent sell-off was exacerbated by the bearish news out of China. So far, Bloomberg and the Wall street Journal are out with the reports today , suggesting the ban will be limited to exchange-based trading and will not affect over-the-coun...

Bloomberg and the Wall Street Journal  are reporting that China will move to shut down bitcoin exchanges, citing unnamed "informed sources." According to the reports, the ban will be limited to exchange-based trading and will not affect over-the-counter transactions. China's largest bitcoin exchanges, OKCoin, BTCChina and Huobi, told Bloomberg on Monday that they still have yet to be contacted regarding any trading ban. Notably, Bobby Lee, CEO of China's oldest bitcoin exchange, BTCC, posted a poll on Twitter suggesting that he is not entirely convinced by the news. The Wall Street Journal reported that they had contacted the People's Bank of China (PBoC) – the country's central bank – for comment, but it had yet to respond. The reports notably follow a recent ban on initial coin offerings (ICOs) in China, as well as an increase in attention on anti-money laundering policies domestically. For example, the PBoC today put out a notice emphas...