By Yasmeen Abutaleb and Jeff Mason WASHINGTON (Reuters) – U.S. President Donald Trump moved to undermine Obamacare dramatically late on Thursday by cutting off subsidies to health insurance companies for low-income patients, sparking threats of legal action and concern of chaos in insurance markets. The decision is the most dramatic action Trump has taken yet […]
Bitcoin slides after China central bank launches investigation
LONDON (Reuters) – The price of digital currency bitcoin slid around $50 on Wednesday after China’s central bank said it had launched spot investigations on bitcoin exchanges in Beijing and Shanghai in order to fend off market risks.
The investigation of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into possible market manipulation, money laundering, unauthorized financing and other issues, according to the statements posted on the People’s Bank of China’s website.
Bitcoin fell from around $909 on the Europe-based Bitstamp exchange to the day’s low of $861, leaving it down almost 5 percent <BTC=BTSP>.
(Reporting by Jemima Kelly; Editing by Patrick Graham)
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