A recent article reported
Link to the article!
Let me do this for you,
as it's from Reddit post But what's in the title and what's in the article are two completely different things.
https://decrypt.co/82243/china-bans-bitcoin-again-bullish-for-defiDeFi projects: Loopring, a zk-rollup protocol, and Debank, a DeFi wallet, have stopped Chinese IP addresses from accessing them.
“We are gradually shutting down Chinese business, which is honestly fine," one DeFi founder told me, asking to remain anonymous. "Most of our users are international anyways."
So it's not like people are turning to anything, more like everyone is turning the power off.
Even completely decentralized systems link to centralized ones, your whole life in China is dependent on centralized services that the government has full control over them, and these people know it, and that's why they are not taking risks because the risk might not be just a fine.
Poeple need to understand that dex is not a way of completely hiding your information, you need to give your details, you need a bank account, another type of payment, you need a place where the fiat will come in, and that you can't hide.
Just because you get 100k yuans from a stranger and not from an exchange in your bank account doesn't make you invisible.
Plus, this is not Europe or South America, this is China, where the authorities control everything, it's the country that has a social credit score in the making and that would track all your life from how many times you have been in traffic accidents to how many times you have been fined by the police for listening to loud music, that plans on rating you on everything, even on the amount of recycling you do and you think you can hide your bank transactions and the purchases you make?