China has also reportedly issued specific instructions as to how the exchanges should close, according to leaked documents reported by Coindesk. Chinas crackdown on cryptocurrency also includes bans on Initial Coin Offerings, or ICOs, about which several additional countries have expressed concerns. Bitcoins sharp drop comes after rising uncertainty in the Chinese market, with two major Chinese currency exchanges, China BTC and ViaBTC, having announced that they will halt trading by the end of this month.