CHINA: THE WAR AGAINST BITCOIN

TOMMY SUTJIPTO WRITES – It is official, China has entered a war against the digital currency, Bitcoin. China’s ban on the worldwide crypto-currency is no longer considered a rumor or fake news, but rather an official statement issued by the country’s government and financial regulators. China’s analysts and economists alike sound the alarm and warn that by buying into Bitcoin, China inevitably condemns itself to grave consequences. The effects are likely to be devastating and lasting; analysts are already forecasting, debating and devising rehabilitation plans for the country’s economy. So why has China banned Bitcoin and how is it...

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