Quote from: RawDog on September 21, 2017, 08:47:08 AM

This is pretty much the whole story right here...

Quote

" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of Chinas monetary regulation is to ensure that the source and destination of every piece of money can be tracked. "

Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.

i think Bitcoin payments are not accepted by government in China also as many other asian countries, because bitcoin has not shown its true value. The bitcoin value is based on the number of users. Its value is not stable, can be increased or drop down rapidly. Moreover, besides Bitcoin, there are many other coins in the world's crypto currency, which makes bitcoin lose its value when currency market is fluctuated..
Laws in Asian countries is not complete as developed countries. Their technology and laws are not enough to manage virtual currency transactions. There is a risk of money laundering or delinquent transactions

i think they ban it to buy some time to figure out how to tax it. This would be my interpretation and hope. Grin

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