The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.
LOL at that "getting serious".
Disregard that news and forget about China as they completely failed to adapt to crypto. The biggest popular in the world could have been good news if they will adopt, but things happen and it's old news so there's nothing to panic about, besides, the crypto world will still survive even without China or other big countries might do the same restrictions.
Not that failed to adopt crypto but we might see them in upcoming bull runs again that they'll do the same thing over and over again. And a news will come out that they've been hoarding bitcoin all of these times and they'll announce that they'll one of the biggest holders in the world.