China bans crypto token trade

The central bank of China banned banks or financial institutions holding crypto\internet tokens. As much as 90 per cent of transactions worldwide still take place in the country, which also generates roughly one in every two new coins created through mining. On the US exchange Bitstamp, bitcoin currently trades at US$6,095, a record high, after surging 49.2 per cent over the past three months.

I think that the explosive growth of internet token trade and the success of many internet only banks like HUOBI (that exchange currencies and allow deposits, and are planning to provide credit and other financial services) has provoked panic among the state bankers. The token growth is too fast and too big. They would like to stop the world and have a break to think.

Why are people so anxious to possess tokens, that are no more than a digital certificate that they paid legal currency to buy them? Are bitcoins the modern version of tulip bulbs?