(Yicai Global) Sept. 14 -- Chinese authorities have decided that the trading activities of all cryptocurrency trading platforms shall be suspended soon and closed thereafter, a source exclusively told Yicai Global today.

Regulators have decided the fate of cryptocurrencies such as bitcoin in China, said the source, who is close to a regional government office responsible for fintech industry regulation overhaul.

The price of bitcoin dropped below CNY19,000 on Btcchina.com today.