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Bitcoin is sinking on a report China is going to shut down exchanges

Bitcoin is down 5.68% at $4,376 a coin following a Caixin report suggesting the China is going to shut down domestic exchanges. Two of China's largest bitcoin exchanges, Okcoin and Huobi, say they haven't received any such notices, according to a tweet from Bloomberg's Lulu Yilun Chen. On Monday, Beijing announced it was banning initial coin offerings, a cryptocurrency-based fundraising method.
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