China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?
China is currently not only banning crypto but also stressing that institutions should not provide cryptocurrency savings, cryptocurrency trust or underwriting services, or issue cryptocurrency-related financial products.
If other countries also do not provide crypto legality this will have problems with crypto developments in the future, but this is unlikely to happen, in the future increasingly sophisticated digital financial technology will definitely be needed around the world to facilitate transactions.