Quote from: Baoo on January 26, 2018, 09:22:03 PM

It is definitely that there are a major problems in the economy of China, due to the existence of Bitcoin and other currencies in the market. Moreover, this has led to preventing the use of all digital currencies in this country.

In addition to that, the government of China has tried many times to break the progress of bitcoin and it has not been able to achieve that goal. In my opinion, if many economic crises occur in the coming period, then it is sure that china will recognize all digital currencies (I think it will be achieved in the near future) .

China's position is two-fold. First, regarding their recent clamp-down on bitcoin mining, the government is fearful of an overload on their electrical infrastructure. Second, regarding cryptocurrencies in general, the government is simply fearful of a loss of central control (as they always are). Surprisingly, the idea of crypto itself doesn't scare them - they are creating their own government-issued cryptocurrency - but they are fearful of the use of external coins to transfer money in and out of the country beyond their watch, and the ability of individuals to amass wealth without their notice.