China's loss will be the world's gain. It's only a matter of time before they realise their mistake & do a huge U-Turn.
No.I don't think that China is ever going to step back and adopt crypto for the second time.
Dumping the crypto industry won't be a big loss for the Chinese economy.On the contrary,the Chinese economy might even get some benefits-less carbon emissions,more electricity for the manufacturing business,less capital being exported out of China by using cryptocurrencies(if they successfully fight illegal financial activities,which is questionable).I kinda get the point of view of the Chinese communist government.
Anyway,Bitcoin and the crypto world will be far better without the constant FUD coming from China.