Why China banned bitcoin？

[nickybon]

Is this news really accurate?
I have found and do not see any information related to it!  

[Allison567]

Because bitcoin is decentralized and out of government control, and China is the world's most populous nation, the country's economic markets are inherently difficult to control. With the introduction of bitcoin, a decentralized digital currency, China should be concerned that this would Economic market disorder.

[onnz423]

China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

[Maryverycool]

I asked my Chinese friend.
He said he had received no information about the ban.
So I question the accuracy of your message.

[gcckpxm62308]

Sorry, I just went to ask my Chinese friend.
The news I got was that China did not ban bitcoin transactions.
It's just tougher regulation.
I also don't see any news that exchanges stopped trading bitcoins.

I also read in a news report on a Chinese website that China has now tightened its controls on bitcoin. I could not find the news article, but it is also likely that Chinese media have exaggerated reports on bitcoin.

[kirana08]

The reason china forbids BTC is:
Virtual currencies are hard to control
Bitcoin exchange rate up and down purely following the market mechanism. The government can not control the exchange rate, unlike the yuan against the US dollar. The government does not like something that can not be arranged.
Easy to use for fraud
For some people who understand the movement of Bitcoin, it could be a profitable investment. But for those who do not understand can be bandwagon and entrust the money to buy Bitcoin through any place so that there can be fraud.
Destroying the investment world
Bitcoin is potentially bubble and breaks When bubbles break and prices fall, investors will be harmed.
Two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and break.
It is not impossible that China wants to create its own cryptocurrency that can be government legality. During this time many things are banned in China, in the end they make their own

[Hodlvcl]

That is a wrong decision of the Chinese government, because they do not want the property of the people are transferred abroad

[gcckpxm62308]

China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

Hello, I also saw the news on a lot of Chinese news on some networks, and then I just took it for granted, your misunderstanding of me makes me very sad,  I am a bitcoin supporter. I do not want to spread FUD around bitcoin and I was also misled by the media reports. The purpose of their coverage should be to arouse bitter panic of bitcoin holders. Thank you for reminding me and I will pay more attention to my words and deeds in the future.

[Matildada]

I wonder when this is?
I've been following the news about bitcoin in China.
But I didn't get the news.
I'd like to confirm it as soon as possible.

[Advicerabi]

China is a Communist country that does not give full freedom on their society. Chinese Government can not regulate the existence of bitcoin, and none of the advantages they would receive.

[gcckpxm62308]

I wonder when this is?
I've been following the news about bitcoin in China.
But I didn't get the news.
I'd like to confirm it as soon as possible.

This is what I read on the website of China, there have been many media coverage of this news. For example, Sohu and Sina Finance have all been reported, and it is also possible that the Chinese media have rumored to attract people's attention but I believe it.

[ClumsySmile45]

China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

Yeah, I do agree with this. China cannot totally ban the use Bitcoin instead they imposed some regulations on the use of it.

[hdasd]

I couldnt find any article or news relating to this..  

There are many countries who are worried about the price volatility of Bitcoin and try to regulate it with harsh tax methods or KYC standards for exchanges but I dont think they will ban bitcoin, simply because they cant ban it completely.

Bitcoin was staging a tulip bubble of the year. 70% of bitcoin is excavated by Chinese every year. Although Bitcoin is a medium of exchange, it is not so much a currency as it is a commodity. The regulatory authorities in mainland China have all along stressed that the economy should take full advantage of the reality and protect the real economy.

[kioicoin]

If it is really a ban and not just because of being hard to put this into regulations, probably, there may be the following reasons that China banned bitcoin.

1. The bitcoin ban is a way for China to enforce capital controls.
2. Chinese own money is going out of the country for investments in foreign countries and that could be a threat to their economy.
3. Despite China’s ban on cryptocurrency exchanges, there may be a plan of the government to issuing its own sovereign digital currency.

Bitcoin is not issued by the monetary authorities, does not have legal and monetary and other monetary attributes, is not a real currency. In essence, management prevents a series of unpredictable problems by blocking Bitcoin-related businesses in financial institutions. Of course, this move is more on the national strategic level to consider.

[gwaposakon]

i dont know why china is  banning bitcoin in their country, but i think there are some reason why china is banning bitcoin in their country, maybe they are a bitcoin hater, or anything else, or maybe they dont supporting community.

[dewynijhof]

it is easy to know, bitcoin investors are being banned all around China country because China government is still having problems related to bitcoin so much include laws and financial system that they can not control, moreover, China said bitcoin is still very unstable to be used, so they are still banning bitcoin temporary.

[Rabeya]

China wants to control money laundering. Thats why they have imposed rules on bitcoin trade but exactly the haven't banned in my search.

[tikaka]

What is the benefit of the Chinese government when accepting the use of bitcoin? I think not! Their people are using bitcoin as a form of tax evasion. The presence of bitcoins also increases the number of criminals using bitcoins as a form of money laundering. Therefore, they prohibit the use of bitcoin.

[tranduc2101]

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/

What do you think happens when everyone invests in crypto? Without any investment in the construction of life projects, losing a significant amount of tax money makes the annual total unsatisfactory.

[gcckpxm62308]

I asked my Chinese friend.
He said he had received no information about the ban.
So I question the accuracy of your message.

You can question, I am also questioning, because this is my news on the Internet in mainland China, there have been many media reports, but my friend also told me that China has not completely banned, and now I am also very puzzled.