| Presented by | | | | | 3. Throwback Thursday: PBoC bans Bitcoin On December 5, 2013, China's central bank, the People's Bank of China (PBoC), prohibited financial institutions from using Bitcoin. At the time, the PBoC and four other agencies stated that while Bitcoin didn't pose a threat to China's economy, it still carried risks. A further statement on the central bank's website said that the government would take action to prevent money laundering risks with Bitcoin. Following the news, the price of Bitcoin fell to around $420 compared to $1,250 in late November. Prior to the ban, Chinese interest in Bitcoin was increasing. However, after the news, many people started panic selling fearing that regulations could come out of the country which would see the coin's value drop even further. | | | | 4. Canada-based crypto mining company Great North Data has filed for bankruptcy. The company, which operated out of Labrador City and Happy Valley-Goose Bay, is reported to have filed for bankruptcy last month, listing $10 million in liabilities, with just $3.5 million in assets. Great North Data reportedly owes the Newfoundland and Labrador government's Business Investment Corporation over $238,000, which enabled it to secure building, land, machinery, and equipment. According to a report, the company's website is now offline. –CBC | | | | | | |