Bitcoin's Outlook In China Is Not Looking So Good Right Now

China's crackdown on Bitcoin has begun in earnest, according to Bill Bishop, the editor of the Sinocism newsletter and a New York Times contributor. Bishop is confirming this evening an earlier report from Coindesk.com's Emily Spaven that the People's Bank of China has issued a new ban on third-party payment processors from doing business with Bitcoin exchanges.

http://www.businessinsider.com