More banks ban Bitcoin

More Chinese banks including Shanghai Pudong Development Bank, China Guangfa Bank and Agricultural Bank of China announced Wednesday they will bar any institution and individual from using their bank accounts to do Bitcoin trading.

The move came after BTC China said Tuesday that it and four other Bitcoin trading platforms will not attend the Global Bitcoin Summit 2014 that will take place this weekend and agreed to adopt stricter practices such as margin trading and short selling, Bloomberg reported Tuesday.

Bank of China, China Construction Bank, and China Merchants Bank announced similar moves on their websites in April.