Why china is not accepted the bitcoin as a online assets of business?

[Naitik]

China is always a way head in the technology.
China made furious invention in the past.
But in the world of cryptocurrencies,
Which make china to step back?
Although we hear rumors about China government wants to introduce its own currency?
But i think it might be rumors only?

Why China is bias about cryptocurrencies?

[hosseinimr93]

China is same as other countries. Governments don't want people to be unknown when they buy or sell something. Another issue is the tax. China won't accept bitcoin until there is benefit to the government. Now there is no benefit unless they regulate using bitcoin however they want.

[aso118]

China is always a way head in the technology.
China made furious invention in the past.
But in the world of cryptocurrencies,
Which make china to step back?
Although we hear rumors about China government wants to introduce its own currency?
But i think it might be rumors only?

Why China is bias about cryptocurrencies?

Google and Twitter do not operate in China. There are home-grown equivalents in China.
The internet in China is different from the internet in the rest of the world. The internet in China is more like a walled garden.
Why do you think they will be interested in letting a decentralized, global currency flourish in China?

[hosseinimr93]

China is always a way head in the technology.
China made furious invention in the past.
But in the world of cryptocurrencies,
Which make china to step back?
Although we hear rumors about China government wants to introduce its own currency?
But i think it might be rumors only?

Why China is bias about cryptocurrencies?

Google and Twitter do not operate in China. There are home-grown equivalents in China.
The internet in China is different from the internet in the rest of the world. The internet in China is more like a walled garden.
Why do you think they will be interested in letting a decentralized, global currency flourish in China?

You are right about China. But note that China is one of the most developed countries and I agree with OP about what he/she expects about China. I think a day China  will take the advantages of using cryptocurrencies. But the problem is something else. It's regulation same as other countries.
Have other countries accepted bitcoin?

[wonderchaff]

that's simple , because they can't control it ...

[Bolt Brownie]

China is always a way head in the technology.
China made furious invention in the past.
But in the world of cryptocurrencies,
Which make china to step back?
Although we hear rumors about China government wants to introduce its own currency?
But i think it might be rumors only?

Why China is bias about cryptocurrencies?

I don't think China is against cryptocurrencies, and I also think that the rumors about them creating their own cryptocurrency are not just rumors. There is one big difference between the cryptocurrencies such as bitcoin, and a contry issued crypto. One is decentralized and hard to control, and the other is perfectly controlled by the government. In fact a country issued crypto, is much more easy to control than fiat itself, so I really think China will go ahead with their own coin, and many other countries will do it as well.

Bitcoin allows money to move out of China, and the Chinese government never liked that.

[Shrinath]

It is true that two of the largest cryptocurrency exchanges in China, OKCoin and Huobi, issued statements saying they would shutdown all trading between bitcoin and the Yuan. Beijing’s crackdown on bitcoin, Litecoin, Ethereum and other cryptocurrencies comes just over a week after it banned all forms of initial coin offerings (ICO), defining the activity as unauthorised fundraising – a criminal offence in China. China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges.

Fundraising schemes, whether through online peer-to-peer lending or pyramid sales, have often led to protests when they collapsed, making Beijing particularly wary of quickly spreading ICOs.

[SUDARMONO]

China is a strong country of technology today, and China is now a country with most bitcoin currencies; we see that China sometimes seems to disagree with cryptocurrency currencies, but I think sometimes it's a drama to shake up cryptocurrency markets, and it is indeed very influential with price movements

[Wallflower28]

I think being a communist country really affects the decision of China to ban bitcoin from their country since bitcoin is a decentralized asset and the government cannot handle anymore if it will circulate to the country. So, in order to change everything, the government of China excluded investing in bitcoin.

[npredtorch]

I think being a communist country really affects the decision of China to ban bitcoin from their country since bitcoin is a decentralized asset and the government cannot handle anymore if it will circulate to the country. So, in order to change everything, the government of China excluded investing in bitcoin.

Or they maybe on the opposite thing. It could be that they are doing this ban issue in order to lower the price and to have the best entry in buying bulk of bitcoins for themselves.
The government of china might be pushing the miners and investors on their own country to sell out.

[ghost424]

As we all know, China is advance at pretty much anything and Chinese are very hardworking to learn something new. If we take a look at their growing numbers, they are the most populated country in the whole world. We all know that we can find a chinese businessman anywhere and that means they have something what we call financial intelligence. They take advantage of the facts on how they can gain more money without having to sacrifice anything. Bitcoin is very revolutionizing and we know that Blockchain Technology is behind all of this significant changes. Maybe the Chinese Government is scared of what people might do with this technology so they are doing something to prevent some things they do not want to happen.

[jseverson]

that's simple , because they can't control it ...

Bingo. China isn't exactly known for letting its citizens enjoy their liberties. From one child policies to the Great Firewall, they're known for wanting to keep the public on a short leash. Something that can embody freedom, like Bitcoin, is pretty much against their governmental principle. They probably won't outright ban it, but instead let it be with heavy restrictions like the internet; I wouldn't be surprised if they did though.

[Sendibere]

By considering all ICOs illegal rather than differentiating ones that trade in unregistered securities from ones that act more like tokens to use certain decentralized apps, China is taking a heavy-handed approach. (In the United States, the SEC appears to be gearing up for a distinction between the two types.) China may simply be trying to cool off the crypto mania with a strict, if temporary, edict.

[Dexion]

china can not control bitcoin and adopt crypto, china just wants to make his country known to the world, and china also in my opinion is not suitable to adopt bitcoin although china is the biggest country of crypto sales.

china just wants to create altcoin that can replace bitcoin. so I think, altcoin made in china that will be used as an asset for online business payments.

[Bonsaiav]

China is an ambitious country and always wants to be at the forefront in every aspect (wishes to win itself).
For me china is sneaky (old style), they don't want to buy / use / consume goods from outside china, while china is one of the largest exporter countries, such as: Weapons, Technology, Cosmetics, Vehicles, Food to Toys.
I think this is what china does to cryptocurrency, limits other coins but Neo escapes without any problems.

It's not a rumor but a fact they already have own cryptocurrency named Neo. In China Neo has become the biggest coin and occupy the first order, because this coin is fully supported by the Chinese government.

[Juggy777]

China is always a way head in the technology.
China made furious invention in the past.
But in the world of cryptocurrencies,
Which make china to step back?
Although we hear rumors about China government wants to introduce its own currency?
But i think it might be rumors only?

Why China is bias about cryptocurrencies?

This issue is over and now you're getting up to find out about it. China was the biggest market for bitcoins, miners loved the free or I can say most affordable electricity. Then the government understood that people are making one hell of money and they're not paying taxes, plus they feared about Ico being scams, and they're not keen for people getting way to rich hence the crackdown.

[minthit]

Chinese government was always very strict when it comes to money laundering and taxation. People in China are also famous for avoiding tax and money laundering. Maybe it's because they haven't found a viable way to regulate cryptocurrency.