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China shuts down Bitcoin exchanges

China is moving forward with plans to shut down Bitcoin exchanges in the country, starting with trading platforms in key cities. 
     
All Bitcoin exchanges in Beijing and Shanghai have been ordered to submit plans for winding down their operations by September 20. 
     
The move follows the Chinese central bank's decision to ban initial coin offerings in early September. 
     
Top exchange BTCC said it would stop trading at the end of the month. 
 
Chinese authorities decided to ban digital currencies as part of a plan for reducing the country's financial risks. 


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