Investor fears of tighter regulation have helped spur a 45% drop in Bitcoin from its December peak. Regulators are planning to scrutinize the Chinese bank and online-payment accounts of businesses and individuals suspected of facilitating trades on offshore cryptocurrency venues, the people said, asking not to be identified because the information is private. The measures are designed to cut off one of the few remaining avenues for Chinese citizens to buy digital assets. The cryptocurrency rose about 3% to $10,698.66 at 5:25 am New York time. The People’s Bank of China didn’t immediately reply to a faxed request for comment.

Source: Mint February 27, 2018 11:48 UTC