Actually, the reason China is the first big government to take such action isn’t an accident. China more than any other country wants to have firm control of its banking system, and allocate credit according to a political agenda. This means that a competing currency like the Bitcoin would threaten its political system. Why not crush it sooner than later? While it is still unclear whether the Chinese government will achieve its real objectives, one thing is clear: the buzz for the digital currencies is gone, at least for now.