Beijing swooped on the South Korean based cryptocurrency exchange called PlusToken and has seized a huge volume of bitcoin and other cryptocurrencies.
Beijing swooped on the South Korean based cryptocurrency exchange called PlusToken and has seized a huge volume of bitcoin and other cryptocurrencies. The seizure by the Yancheng Intermediate People’s Court has moved the vast amount of digital currency to the control of the nation’s treasury. Bitcoin pioneer Max Keiser (@maxkeiser) has claimed this decision allows China to “own one percent of all bitcoin”. However, the exact details of how Beijing will use the assets in accordance with the nation’s laws has yet to be announced. China has not made public the exact figures on how many of the seized coins are still held by the state. But, if they hold onto the recent haul, it would point to a longer term strategy by the politburo to acquire bitcoin.
Source : www.express.co.uk
