Bitcoin extends loss after China's central bank warns investors

The cryptocurrency slid 1.4% to $888 at 5:43 pm in Hong Kong

Bitcoin extended Friday’s tumble amid concern China will tighten rules on the digital currency to curb capital outflows.

The cryptocurrency slid 1.4 per cent to $888 at 5:43 pm in Hong Kong, after falling as much as 10 per cent on Friday. The People’s Bank of China’s Shanghai branch said in a statement late Friday that its officials, along with the city’s financial office, asked bitcoin trading platform BTCChina.com to conduct self-checks and rectify any problems. The State Administration of Foreign Exchange has scrutinised some major bitcoin exchanges, possibly to investigate the use of the digital asset to evade capital controls,