oops. This does sounds grave.
http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/
Coin desk "our source revealed they got their information from various channels, including those people who were at the meeting."
Payment processors banned from working with the Exchanges.
http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/
Coin desk "our source revealed they got their information from various channels, including those people who were at the meeting."
Payment processors banned from working with the Exchanges.
Worrying, its not exactly clear though, do exchanges stay open? Do bank transfers still work? Lots of good articles by that author so its unlikely its deliberately vague, have to wait and see but it explains some of this at least.
It would certainly cause a drop, and it did already, but on the end it's good. Sooner China stops being so important factor in BTC it's better.