The chinese government or central bank is not CHINA.The people of China love bitcoin and cryptocurrencies.
Why it`s so important for the authorities in China to track all transactions?Taxation,money laundering or something else?Total control over the financial system is almost impossible.
Legislation in the financial sector should be limited in purpose to preventing systemic risks to the financial system and preventing financial crimes. Regulations must not be too strict, or else the global competitiveness of Chinese enterprises will be inhibited.