Why China banned bitcoin？

[kissme09]

There are many reasons China prohibits Bitcoin (crypto) in their country. Find out about the reasons for the ban. A unique thing that banned them is the capital. People return to infrastructure development projects and invest in Bitcoin, which makes it the primary source of income for a taxpayer, which is what prompts China to ban it.

[nugrama]

Perhaps one of the reasons China prohibits Bitcoin is due to the large human population and they are difficult to control it. and many other reasons would have been in addition to possible major countries like China they feel in the presence of shallot trade disadvantaged Bitcoin.

[captin crunch]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

It is not banned it is regulated, and they need the regulations as crypto trading damaged their currency and harmed economics.

[BitcoinMarketer39]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

China cannot handle the growth of cryptocurrency as well just like other countries and may be it is affecting their economy badly that's why they ban all the icos in their area but not the entire cryptocurrency so they can still mine coins and earn profit passively.

[spaso_87]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

I'm not sure why China is banning Bitcoin. But I'm sure the Chinese government would have thought about this very maturely and had dared to take any risks that will occur later. So I still appreciate the Government of China that has made this decision.

[octopus]

I do not scare the banning of China because there are hundred countries still welcome BTC such as Canada. China is just one market in hundred market and BTC still rise up in the future

[Carmen03]

China is planning to cut off domestic access to platforms and exchanges that enable people to trade digital currencies,it has been reported .Bitcoin and all the other major digital currencies plummeted after it emerged that trading  could be banned in South Korea. Speculation around the Chinese government plans for a major bitcoin crackdown have likely also contributed to the huge decline that have happened across the board.

[kyle999]

The china is rich and they have all the things that are not present.
and they have the things we need so they do not want the bitcoin because of the fact that there will be a process when they enter bitcoin in china.

[amwer]

Bitcoin's work is illegal. So the Chinese government banned it.
If China does not allow Bitcoin to use the world's second largest economy, then it is likely that many more countries follow the same method. And since Bitcoin is not controlled by any country's central bank, so many countries will not want to make alternative money system.

[weblouartisan]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

I believe that bitcoins is terribly affects their economy so bad but the good thing is that, ico's is only banned and people can still use cryptocurrency whenever they want so we should not worry about bitcoin if it will decrease.

[LitecoinDarkFilm]

I think the thing is that now bitcoin could threaten the economy of China, and China in turn does not want to lose the global economic dominance

[bosimpson54]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

In my opinion, China prohibits Bitcoin because in the country they have little knowledge of Bitcoin and the virtual economy market, China is the wealthiest country regarding land and population, but maybe the government in the state It is feared that Bitcoin could reduce the economy, so they banned Bitcoin.

[nazaididuan1]

BTC is prohibited in China!

Just ban the ICO project, and shut down the mines and some small trading sites!

I think the government is doing this to prevent some people from using bitcoin to transfer property!

[Abigail.Parsons]

I think china along with many other of the major world powers are extremely cautious with engaging with bitcoin in any positive way given the potential it has the disrupt all aspects of society and more importantly transfer power away for more centralised institutions

[nmax21]

This is another exaggerated news. In China there is no prohibition, there is regulation. And the final decision has not yet been accepted.

[letua]

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

China cannot handle the growth of cryptocurrency as well just like other countries and may be it is affecting their economy badly that's why they ban all the icos in their area but not the entire cryptocurrency so they can still mine coins and earn profit passively.

For your information crypto doesn't effect badly the economy of China but rather it helps the Chinese to have some extra income. The reason why China banned the other ways of crypto because of improvement.

[TitanAI]

A government/country having new regulations for bitcoin does not mean that bitcoin will be banned, it just adds a set of rules for bitcoin to be able to control the virtual coin more and more. It's called politics and the world first order.

[sashulya7979]

I think if someone in China wants to use bitcoin anyway, he will use it without problems and damage to the government. You can not prohibit bitcoin. If only he completely dies.

[Habib2016]

China cannot handle the growth of cryptocurrency as well just like other countries and may be it is affecting their
Chinese People Verry Worried For Bitcoin Crypto Currency
In China Becouse Some ICO/Some Little Problem But China Extremely Not Banned Bitcoin I Think Keep It Growing Up.

[Btcjunpitz18]

to prevent financial risk, China regulate the withdrawal of bitcoin. It is not being banned but to upgrade the security and anti money laundering systems, that's why there's a temporary suspension on all withdrawals on bitcoin.