China Isn't Closed To Bitcoin, Says Chinese Bitcoin Entrepreneur

When China’s central bank barred financial institutions from handling Bitcoin transactions, the notion that “China was banning Bitcoin” spread like wildfire. After dust clears, Bitcoin price and transactions drop As the dust began to clear on December 6, 2013, Bobby Lee, founder of China’s largest Bitcoin exchange, BTC China, woke up to a hard reality: Bitcoin’s value had fallen from $1,100 to $500 and trading volume on his exchange dove by nearly 80%.  While many people might have counted him out, the entrepreneur now says Bitcoin is stronger in China than in the US as he works to redefine his…