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/The biggest and the only reason why China and all other countries has banned bitcoin is because of its decentralisation and because of this decentralisation , there is a lot of controversy and there is lot of illegal use of bitcoin and moreover if any illegal activities is carried out with the bitcoins between two terrorist then no third party can see their transactions because bitcoin transactions does not involve any third party seizure and thus most of the companies and countries are against bitcoin and other crypto currencies.