Some of Bitcoin enthusiast Mike Caldwell's coins in this photo illustration at his office in Sandy, UtahBy way of John Ruwitch and Pete Sweeney SHANGHAI (Reuters) – China's executive banned monetary institutions from buying and selling in bitcoin on Thursday, in what analysts stated was a restrained first step in opposition to regulating the digital foreign money that has exploded in recognition in China and soared in price in recent months. A statement by using the critical bank and four different companies mentioned that, whereas the pc-generated currency does no longer but pose a danger to China's financial machine, it contains dangers. Digital currencies are generally extremely unstable. Shanghai-primarily based BTC China has not too long ago turn into the world's biggest bitcoin exchange through quantity.