we don't know what the real purpose of china is by always giving bad news on cryptocurrencies as it is today. if many countries do the same as china maybe the growth of crypto can be suppressed, but this is not done by many countries, in my opinion crypto is a technological development that is not easy to stop, so many countries are still waiting for further developments to make clearer regulations .
Isn't the reason very clear that they want to create their own economy and want to make their country replace the superpowers in the economic sector and try to be the king of all that is related to finance.
if likened to crypto itself is an independent part that is not bound by any law and they do not like this.
even if it can be suppressed but I'm not sure it will take long because indeed regulations will always change over time