China government want relishes firm control of the system back again.
China was once a frontrunner in virtual currencies. The country accustomed be the largest Bitcoin market within the world. At that point, China was leading within the mining and commerce of Bitcoin.
Then the war started.
During a bid to guard the traditional industry and cut back illicit capital flows, the financial institution and different regulators began shooting at cryptocurrency exchanges, movement down access to most of them.
Thus, the cryptocurrency market bled in China. The country’s share of worldwide Bitcoin-trading, that with pride hierarchic around 90%, crashed embarrassingly to below 10%. , The ban on cryptocurrency is geared toward “maintaining the safety and stability of the economic system.”