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 think China is banning bitcoin because the government is afraid bitcoin is a growing bubble and one day it will erupt. While the number of bitcoin investors in China is very much. They fear that many Chinese investors will suffer losses. So the Chinese government to ban to protect its people from big losses. And I've read China will make its own cryptocurrency.