Chinese regulators target bitcoin in effort to limit capital leaving the country

Virtual currency suffered a bump in the road after the People’s Bank of China conducted inspection of bitcoin exchanges. The central bank’s supervision of bitcoin trading is an effort to slow the outflow of capital and stabilize the yuan, reports The Wall Street Journal.

Blockchain call-to-action for bankers

TechVision Research released its report asking banks to focus on the practical applications for blockchain technology, specifically for improving the efficiency and effectiveness of banking services while operating within regulatory guidelines.

China will lead FinTech & blockchain industries in 2017, analysts expect

The growth rate of the Chinese FinTech and blockchain marketplaces is a result of the collaborative ecosystem of Chinese firms. Given that organizations have been formed to assist the development of blockchain and FinTech companies plus the country’s willingness to make big FinTech investments, analysts from EY and DBS expect the country to lead the way in international FinTech market, according to CoinTelegraph.