Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC
China has always imposed sanctions on bitcoin and China has always called it a conspiracy. China believes that if the world became rich because of bitcoin, no country would need China. This is because people will become economically prosperous, which will reduce their dependence on China. On the other hand, members of the Chinese Communist Party are very interested in bitcoin. I don't think that China will ever call the bitcoin a legal currency, But a time will surely come when China will have to trade by buying bitcoins from the world.
I don't know the specific reason, but Huobi China issued an announcement that it wants to clear Chinese users. If a chain reaction is triggered, it can be said with certainty that China does not have the soil suitable for the growth of Bitcoin. If you think about it at a deeper level, it may have something to do with the trade war between China and the United States. The Chinese government does not want the money of Chinese retail investors to be harvested by Wall Street in the United States.