A recent article reported that China's outlawing of crypto transactions backfires: more Chinese are turning to underground projects and decentralized exchanges without the CCP's control. Do you see global implications for the crypto market?
Can you share that report? In my view its useless to discuss something that is not written on any reliable source.
It's not that easy to hide from the Chinese government unless you are skillful to hide your activities from the government agents. I think it will not be profitable because the general masses won't take such risks just for investing in bitcoins. They might face some big trouble if they get caught. If they will just let them trade with decentralized exchanges without any problem, then it would be good for them but if they need to hide just to trade, then that would be a high risk to take.
Chinese people have great regard and respect for there government (please do not believe blindly what western media says about Chinese government). In my opinion, following the law of government is obligation of every citizen to avoid bad situations.
As far as policies are concerned, I guess most of big powers have same policies for crypto.