Switzerland close another IPO trader as power struggle between central banks & Bitcoin traders continue

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In the latest move to clamp-down on the risks involved with the trading and issuing of virtual currencies, Chinese authorities’ a long with Switzerland’s fiscal watchdog have ordering Beijing-based cryptocurrency exchanges to stop trading and immediately notify clients of their cessation.

Virtual currencies such as Bitcoin are issued and manipulated by their developers and not backed by a central bank, are hailed by their supporters as a fast and efficient way of managing money, with central banks banning it to protect their oligopoly in the financial sector.