I've heard the news that China will create its own Cryptocurrency, but I do not know for sure. obviously China is a big country that has a strong economy, and this is very unfortunately China forbid Bitcoin, because in fact many big investors from China who became investors Cryptocurrency. and this greatly affects Bitcoin and other Cryptocurrency Values.
Topic: Why China banned bitcoin？ - page 7. (Read 2079 times)
because bitcoin has the potential for money laundering
so do not be surprised why china banned bitcoin
and not only China, almost all countries are also wary of money laundering using bitcoin
so do not be surprised why china banned bitcoin
and not only China, almost all countries are also wary of money laundering using bitcoin
In my opinion, not only China is banning the use of bitcoin in the country, but there are also other countries that ban bitcoin like South Korea and Singapore. I think the country is banning the use of bitcoin because the state can not regulate or control the bitcoin finances and to easily control their currencies. In addition, it is done for the sake of society, because Bitcoin prices are unstable..
Its good to authenticate your source of information before making claims;D. there is no news that says china banned bitcoin. I believe they want to device a means to regulate the numerous ICOs that comes with hit and run leaving investor in stranded. Most of these Chinese holds a larger volume of bitcoin and are much into cryptocurrencies. their community is very large so i am not sure there will be a ban
May be China is banning bitcoin because they dont want their conuntrymen to use bitcoin without legalizing first. The chinese want to protect their people from any scamming activity that may possibly harm their people.
China and many countries banned bitcoin certainly have a strong reason and I think the strongest reason is fear because bitcoin is used for illegal transactions to money laundering, this is because the bitcoin feature is anonymous so everyone will never know their identity.
China illegalized bitcoin use in their country because they saw a possibility that if they let the coin flourish in their country, bitcoin might one day take over the currency in the said country and make their national money void of value or at the very least, obsolete. They think through banning they might prevent this from happening and so they did prohibited the use of bitcoin.
China is simply interested in promoting its Chinese cryptocurrencies. Good cryptocurrency is Chinese cryptocurrency 
China note Ban Bitcoin is just Ban regulations.China is positive and sees great power maybe in future they launch their own cryptocurrency
Its good to authenticate your source of information before making claims;D. there is no news that says china banned bitcoin. I believe they want to device a means to regulate the numerous ICOs that comes with hit and run leaving investor in stranded. Most of these Chinese holds a larger volume of bitcoin and are much into cryptocurrencies. their community is very large so i am not sure there will be a ban
Well as per them, they are just protetcting their people but what I think the real reason is that, they cannot control it so they don't want their people using it at all. That's what all governments is claiming, they are just protecting their people, I get that there are a lot of fraudsters and scammers that uses it but hey, these cannot just erase the fact that Bitcoin can do good, bring good to a lot of lives.
China does not prohibit bitcoin, but does not consider it to be a currency in circulation. Bitcoin is now a virtual product.
I probably think that China banned bitcoin for the reason that it is a tool to easily do crimes. You can buy illegal weapons and it is hard to trace you.
I think China only forbids ICO, as many do fundraising and fraud under the guise of ICO projects. This can easily be done as a place to launder money. As far as I know, China is an anticorruption country. If it strictly prohibits ICO because it is prone to money laundering then it is understandable. I do not know if China further bans bitcoin. Is there a legitimate source about it?
the governments want trace the transactions bitcoin and they can decentralise the infrastructure by franchising the process just like issuing licences to private banks.
China is a closed monetary system and its slightly more difficult to bring money into China, and its pretty much impossible to get money in large quantities out.
China is a closed monetary system and its slightly more difficult to bring money into China, and its pretty much impossible to get money in large quantities out.
OKCoin continues to trade!
It's too easy to get out of China's foreign exchange controls with bitcoin!
China's cryptocurrency environment needs to be re-normalized!
It's too easy to get out of China's foreign exchange controls with bitcoin!
China's cryptocurrency environment needs to be re-normalized!
China does not prohibit bitcoin
Just more difficult terms
Just more difficult terms
I think they are the most populous country with over 1.4 billion people. With 1.4 billion people using Bitcoin, it is very difficult to control everything, they still keep a huge amount of dollars on them do not want to bitcoin too expensive.
All countries that banned bitcoin include china because they worry that the use of bitcoin will make legal currency disappear because people prefer to use bitcoin.
Crypto is certainly at odds with centralised authority but I doubt fiat money will ever go away. Fiat has (some albeit minimal) purpose, crypto has another purpose.
All countries that banned bitcoin include china because they worry that the use of bitcoin will make legal currency disappear because people prefer to use bitcoin.
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/
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.
Sorry, I just went to ask my Chinese friend.
The news I got was that China did not ban bitcoin transactions.
It's just tougher regulation.
I also don't see any news that exchanges stopped trading bitcoins.
The news I got was that China did not ban bitcoin transactions.
It's just tougher regulation.
I also don't see any news that exchanges stopped trading bitcoins.
Well for me thats great, China was one of the most competitive country in terms of economic growth specially and they will be a great influence to this forum, I guess tougher regulations is also helpful to prevent anomalies and scams that we dont have any idea when it will occur, I heard that China banned Bitcoin because they want to make transactions traceable but Im hapoy that China didn't totally banned Bitcoin.q
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