Topic: Why China banned bitcoin？ - page 12. (Read 2150 times)

Yes the word spreading "China ban Bitcoin" is not true because they just made some regulation just like US citizen who are prohibited on investing in ICO. China's government are also looking forward to adopt the new technology but it needs time for them to fully recognize the Bitcoin.

It's sort of like a ban because of the stricter regulations, but overall, the industry still exist in the country. It just so happens that a lot of transactions from China have been cut because of the rumors that China has banned all bitcoin transactions. However, it's very unlikely because there have been people still transacting in China.

According to which I know China does not ban bitcoin, it's just that the government issued a policy that prohibits the transaction of initial coin offerings (ICO) and possibly also because China wants to create and develop their own digital currency. CMIIW

as many investors are turning to the Bitcoin market, increasing demand.
The increasing demand for cryptocurrency transactions encourages Chinese regulators to take action, in an effort to anticipate potential risks that arise in the future. The Chinese regulator has posted an order to close BTCC on September 4, 2017.

Bitcoin has been banned in many countries. One of them is China. We know that bitcoin has been banned in China. China has been bitten by bitcoin because China's own money is going out of the country for investments in foreign countries and that could be a threat to their economy. I think there is nothing on their mind that those who bitcoin ban

One of the reasons for the ban on the operation of Bitcoin stock exchanges was the lack of appropriate licenses that are required for the legal functioning of virtual currency exchanges. In addition, all operations on cryptocurrencies took place across borders and beyond any financial supervision, which could be used for money laundering and the creation of financial pyramids.

Another reason could be the model of the functioning of cryptocurrencies; high potential instability and significant fluctuations in rates. We would like to remind you that in the spring of 2017 - 1 Bitcoin (BTC) could be purchased for approximately PLN 4,000. In September of the same year - even for 17 thousand zlotys. People who made the investment in spring - they could count on a 4-fold return on investment!

Continuing, the cryptocurrency exchange market as it is above financial controls - may be susceptible to manipulation. For example, people with large amounts of cryptocurrencies may have an impact on trends and their prices. In addition, not all on-line cryptocurrency exchanges had sufficient security features and the ability to verify the identity of their users. Taking over user accounts and their devastation were observed, for example, at the stock exchange Mt. Gox or in the DAO project.

Increasingly, professor Yang Dong speaks at matters related to cryptocurrencies, who lectures at one of the Chinese universities: the University of Renmin. Recently, he has spoken at workshops in which representatives of the People's Bank of China, who control the state's monetary policy, took part.

Good read mate. But, I think one of the main reasons why China has banned other cryptocurrency activities in their country for their own to prosper. China is one of the largest economies around and one of the most advanced as well. Therefore, it's not that surprising that they are also venturing the market for their own good because they know the legitimacy of this market and how much they can potentially get from it. Therefore, to support their own coins, or those from private companies that originated in China, they have to first give it a chance to rise up by decreasing the competition.

China decided to ban the bitcoin because that's a type of currency by means of which you can make a transaction and neglect all the central bank's regulations that are related to the trading and the foreign exchange.

Reasons why China banned Bitcoin transactions:
1. Difficult virtual currency in control, exchange rate of bitcoin up and down following market mechanism.
2. Easy to use for Fraud
3. Destructive investment world
4. China wants to make its own virtual money, China wants to create its own Cryptocurrency with government legality. so far many things are banned in China, the edges are they make themselves.
5. Abused for illegal transactions

Probably they understood that people making big money without government assitence and not paying taxes, so China banned bitcoin , ICO's and other altcoins.

If that is true then that is the proof that the countries are really afraid of the bitcoin and also the other cryptocurrencies because they can outperform the stock market of a country since the profit in the cryptocurrency market is bigger than stock market so to avoid losses they are doing a lot of regulation and they will just create their own so they can gather those cryptocurrency fanatic.

They have not banned but simply wait for the government to start regulating the entire crypto market. China is positive and sees great potential in this. And as far as I am aware, China was planning to release its cryptocurrency!

How come china banned bitcoin wherein we didn't heard the news.China revealed that the central bank was researching and issuing digital money.Getting too well known bitcoin and the power of profit will make them anxious.Their investment in bitcoin and crypto will affect the success of their own digital money.

China's desire to stop the global dominance of the US dollar has become more pronounced, as with other members of the BRICS international coalition (Brazil-Russia-India-China-South Africa).

Voice of china's reports on late 2017 Announcement on preventing the risk of issuance of coinage offerings,
Requiring that any institution not engage in the interaction between legal currency,tokens,and virtual currency
One of the reports states that despite the official ban,the companies operating in the cryptocurrency sector.

Bitcoin is a crypto currency.Even if the circulation of the world is only a transfer function which itself involved in money laundering activities.So the need for an anti-money laundering protocol to join Trading platform due to the small amount for the money laundering people can not play a leading role and now the value is high.It will certainly be used.Theres no news about China bannin of bitcoin.The news that OP said is about regulating of bitcoin in china its different from banned but because of this news some people think that china banned the bitcoin.

I do not understand this trend in General ban cryptocurrency. in my opinion, this is stupid. so many give up a good future of their own volition

This is due to the fact Bitcoin is in a war with China's economic method, with China's accession to the SDR, China's RMB internationalization strategy has been completely promoted. The internationalization of the RMB is largely a local centralized monetary approach, whilst the decentralized this option runs counter to China's RMB internationalization method and the collision of such sturdy foreign money attributes has pressured China to resort to "capital punishment" over Bitcoin.

There is a significant difference between regulations and a ban, so we should not combine two of them.

I understand the reasons China has a ban on Bitcoin for seven reasons: Bitcoin in China operates without a license.
Nature of Bitcoin
Money laundering activity of criminals
Market manipulation
Security issues do not control
And the underground deals of illegal crime.