The Chinese government’s heavy-handed action against digital currencies comes two months after the SEC ruled that cryptocurrency “IPOs” or ICOs are investments, and therefore, should be subject to the same rules as regular stocks.
The Chinese and American governments aren’t alone. Last week, the Russian government opened a criminal investigation involving Bitcoin, while the Venezuelan government has been jailing Bitcoin miners.
On the surface, these actions try to protect the public from market manipulations. But on closer examination, they are trying to kill any currency that may threaten government monopolies on printing money and earn seigniorage income, as discussed in previous piece here.
That’s why digital currency investors should cast a wary eye on big governments.

Typical News Then.

Long Time No See Grey_Beard, Welcome Back

Chris21010
The us is trying to keep people from being stupid while China is trying to stop people from making money.

No, China is trying hard to prevent money from leaving the country.  It's why housing prices in Hongcouver are so high.  Chinese "investors" will overpay for houses just to get their hard earned or stolen cash out of the country.  It's making it so that there is literally no one able to work in the city, and some places are actually having to close down because they can no longer find people to employ.  

Noxnoctis1976
Any time you have innovation transferring power back to the general population big government will attempt to take it away. Crypto currency is disrupting banking, much like Napster threatened the music industry.

Rhapsody is now Napster. Same digital music service. 100% legal. Stream the music you want and download your favorite songs to listen offline.

the pie is now over a half trillion dollars, obviously governments want their slice

The Chinese only want to ban the export of Y to $.  They care less about crypto, they just don't want capital to leave China.