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/I really don't think that China banned the transactions using bitcoin because it's not in the lists of some countries who already banned bitcoin. China can easily adapt new technologies and most of it was supported and endorsed by them. However, If it is really true, then maybe its government are just studying the advantages and disadvantages of it if they totally accepted bitcoin.
China doesn't necessaeily banned bitcoin. It just limit the cryptocurrency utilize in the country and the new crypto that are just starting. This is because of a lot of news related to crypto that are relative to a lot of scam. China is just regulating the security in their country. Or who knows maybe they see crypto as a threat so they are limiting the circulation until its gone.
No one knows the intention of this country, maybe they are planning to create there own.