If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised centralised, power-obsessed regime. China can play with its digital yuan.
That's what I have been saying since China banned bitcoin mining. It's a net positive! China's dominance over bitcoin mining must end for the greater good of the bitcoin mining community. Whatever impact you are seeing, is temporary and not going to hurt us for a long time. But at least it will be free from an authoritarian regime which goes a long way cleaning up ticks from the network. China has their own version of almost everything and they should be happy with centralized digital yuan.
I also wanted to say exactly this. It is necessary to solve this problem once and for all. Miners must leave China or simply stop mining cryptocurrency there. Then there will be no constant feeding of this bad news. There are a lot of good, even the best, places on our planet for mining bitcoins and crypto-friendly governments. Otherwise, it all came together right on this China. Half-time measures lead to a constant source of negativity from China. Finally, remove the miners from your territory. We can do without China.