https://www.theregister.co.uk/2017/09/15/china_orders_immediate_shuttering_of_bitcoin_exchanges/

China has ordered all Bitcoin and cryptocurrency exchanges to cease trading by the end of Friday, causing a massive drop in its value worldwide.

According to leaked documents and a series of statements from those running the local exchanges, China's regulators have told the exchanges verbally that they do not have a license to operate and must shut down immediately.