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The country’s legislature passed a law, following months of debate, that brought bitcoin exchanges under anti-money laundering/know-your-customer rules, while also categorizing bitcoin as a kind of prepaid payment instrument.
A 2015 survey showed bitcoin users tend to be overwhelmingly white and male, but of varying incomes. The people with the most bitcoins are more likely to be using it for illegal purposes, the survey suggested.
Chinese authorities have ordered Beijing-based cryptocurrency exchanges to cease trading and immediately notify users of their closure, signaling a widening crackdown by authorities on the industry to contain financial risks. Exchanges were also to stop allowing new user registrations, according to a government notice signed by the Beijing city group in charge of overseeing internet finance risks that were circulated online and verified by a government source to Reuters.
Shaking confidence in Bitcoin and the validity of some transactions, the price briefly plummets and the Mt. Gox exchange temporarily suspends bitcoin deposits. Thanks to a swift and coordinated response by Bitcoin developers, miners, and community members, the fork is resolved within hours after the operators of two large mining pools, Michael Marsee (of BTC Guild) and Marek Palatinus (of slush’s pool), honorably forgo some of their accumulated mining rewards in order to downgrade to the previous, compatible version. An updated version, 0.8.1, is released shortly after, containing safeguards to prevent the original problem.
If your aim is to accumulate Bitcoin, a good method is to set aside a fixed, affordable sum every month to buy bitcoins, no matter the price. Over time, this strategy (known as Dollar-cost averaging), will allow you to accumulate bitcoins at a decent average price without the stress of trying to predict the sometimes wild gyrations of Bitcoin’s price.
However, with the price now significantly below the mark many UK buyers paid for their cryptocurrencies, Lloyds’ customers are now servicing a debt much higher than the worth of of the digital tokens in their wallets. 
^ Espinoza, Javier (22 September 2014). “Is It Time to Invest in Bitcoin? Cryptocurrencies Are Highly Volatile, but Some Say They Are Worth It”. Journal Reports. The Wall Street Journal. Retrieved 28 June 2016.
Regulators started to scrutinize China’s initial coin offerings as announced by a local outlet. Caixin reported that a notice, issued by a working committee that oversees risk in the country’s internet finance sector, said new projects raising cash or other virtual currencies through cryptocurrencies are banned. It added that authorities are cracking down on related fraudulent practices. The document defined initial coin offerings (ICOs) as an unauthorized fundraising tool that may involve financial scams, the Caixin report noted. The committee provided a list of 60 major ICO platforms for local financial regulatory bodies to inspect.
Every four years, the number of bitcoins released relative to the previous cycle gets cut in half, as does the reward to miners for discovering new blocks. (The reward right now is 12.5 bitcoins.) As a result, the number of bitcoins in circulation will approach 21 million, but never hit it.
The next domino to fall was Greece, where strict capital controls were imposed in 2015. Greeks were subjected to a daily withdrawal limit of €60. Bitcoin again demonstrated its value as money without central control.

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