Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
China's news recently has been about China's appreciation with blockchain technology and their plan of using it and launching some projects that is blockchain related. Not just that, the president also appreciated and been warmed by bitcoin since its biggest successful application of blockchain so Chinese officials quietlt removed the business of making and other altcoins on the list of industries that Beijing is trying to outlaw.
Beijing is open in accepting and using cryptocurrency only in a way that they can control, it still has to be in moderation since as of the moment bitcoin only has the support and the impression but isn't actually announced to be legalized and openly accepted.