BITCOIN DOWN China Bans Payment Companies from Working With Bitcoin Exchanges,

Sources close to China’s Central Bank today reported that the institution has banned third-party payment companies from doing business with bitcoin exchanges, reports CoinDesk.

A reputable source told CoinDesk that the People’s Bank of China (PBOC) met with most of the top third-party payment companies this morning.

The source said the meeting topic was unrelated to bitcoin, but digital currency became an important part of the discussion.

“PBOC, in no uncertain terms, directed third-party payment companies not to do business with bitcoin exchanges in China,” they explained.

Bitcoin is selling off on  the news.