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

Bitcoin is down 5.68% at $4,376a 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. In February, China blocked customers from withdrawing their bitcoin. They were eventually allowed to resu...