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China Bitcoin exchange head 'surprised' at speed of regulations

Martyn Williams | Dec. 6, 2013
The head of the Bitcoin exchange was caught off guard by the announcement of new regulations in China

The price of bitcoins has surged in the last few months, rising from around US$200 to currently over $1,000.

Lee credited the popularity of Bitcoin in China to several factors, including the high rate of savings among the population, that many people are good at math, and that Chinese consumers love to try new things.



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