First, the US had a debate over whether or not to regulate the currency for a long time and didn't give it green light until this Monday. It means the virtual money has taken a big step toward becoming a mainstream currency.
Second, China is no stranger to digital money, the Q coin, has been available in China for nearly 10 years. And financial innovations are common, from new payment systems like Alipay to other forms of shadow finance.
Some shops on Taobao accept Bitcoins and many are selling Bitcon servives - around 240, according to the Bitcoin Channel.
CNN put it that China is quietly positioning itself to dominate the brave new world of the bitcoin.
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