China bans bitcoin in order to make its own cryptocurrency

From nzherald.co.nz

China's cracking down on cryptocurrency. But it's not because it doesn't like the idea of an all-digital economy. The ruling Chinese Communist Party (CCP) State Council has ordered a halt to bitcoin trading and mining. And it's all because of its Great Digital Firewall. Beijing has long sought to isolate its populace from the rest of the world. Foreign media is strictly controlled. Its internet access is severely limited. Most Westerns social media outlets such as Twitter are illegal. But the emerging trend towards digital currencies had seemed right up its ally. Turns out, it is too much so. The core concept behind ... (full story)