To be fair China is being authoritarian society in which the government wants to control every part of society will be afraid of Bitcoins or any other cryptocurrencies general because it is decentralized and is not controlled by the Communist Party and that's the Paranoia surrounding them. And also the state Run Chinese media is state run so we cannot trust anything that they say to
RE: Daily: Bitcoin Drop = Bitcoin Bubble? China hints OTC trade violates the law
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Daily: Bitcoin Drop = Bitcoin Bubble? China hints OTC trade violates the law