We all know that china is a communist country having lots of regulations and restrictions.it always wants to keep its people under its strict control.Bitcoin is a currency which has been created to give financial freedom to people.Just we could understand that both are contrast.China does not want to loose its control over its people,either due to bitcoin or other.It does not want its country's wealth to be transacted via bitcoin outside its boundary and get invested in other countries.Also,it does not want its own currency yuan losing its value due to bitcoin.So,it has started to take severe actions against bitcoin.