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/maybe you should check the truth of the article before posting on the thread because as far as I know the Chinese government does not prohibit bitcoin but only prohibits ICO transactions. the Chinese government is banning because they know some of the ICOs are fraudulent, then cryptocurrency has the potential to grow rapidly and can not be controlled and cryptocurrency is often used for illegal activities such as money laundering, smuggling and drug sales.