So if I read it right, China is banning big exchanges from handling vast quantities of Bitcoins for people, but it isn't stopping over-the-counter transactions with it. Since exchanges can and have fled with people's wallet balances, it might be a preventative measure against enormous grand larceny. Maybe their intelligence agencies know something we don't. Or maybe it's just more manipulation, control, and big brotherly oversight. Who knows? History and hindsight will tell us later. For now, BTC plummets.
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