China is the first county which take action against bitcoin and for its trading. China can not ban bitcoin outside of their country but it can influence the other country to ban it in their country. Chinese government ban it because the popularity and uses creat an treat for their country economy. According to Chinese government bitcoin affect negatively their country national currency value at international market and another thing is its also affects their banks profit and these are some reason behind this topic.
China can not ban bitcoin outside of their country
even if it is inside of their own country , china cant ban bitcoin because bitcoin is online which means it can still be accesible whenever a user uses a special tool such as proxies , vpn's and other tunneling software . a country can only ban centralized stores or exchange that are related to cryptos .
but it can influence the other country to ban it in their country.
influence ? no i dont really think so . other country have thier own reasons on why they restrict the use of cryptos but its not because of china banning cryptos .
Chinese government ban it because the popularity and uses creat an treat for their country economy.
popularity cant harm people and i dont think it is a threat for the economy of a certain country .
overall , i heard that china is also banning ico's and some exchange but they arent banning all of the cryptos .
