Now these Chinese traders can only go overseas to open accounts or directly immigrate overseas, or directly withdraw from the crypto market.
I don't think they will withdraw from the crypto market. They will find ways to continue trading. They will start to learn to use decentralized transactions, but now decentralization cannot solve the problem of fiat currency deposits and withdrawals.
I think people from there still have the way to trade cryptocurrency by using VPN to access exchanges but it's hard if the exchange force us to do KYC if we want to break the transaction or trading limit and withdrawal.
They still could withdraw their profits to paypal USD and withdraw USD to their national currency.
But many people still said the ban is temporary because they want to see the bottom price of crypto and started to reload for big wave profits.