Crypto was supposed to be a decentralized means of payment, to escape banks and governments regulation, now it seems governments are trying to take control of crypto and the internet.
i consider this an empty threat as long as the crypto network remain decentralized, how can they create a manipulation over it, to hinders or control the system is a big threat on government alone, CBDC could not make any difference, regulations made could not as well put them in control of it, had it been they can do anything about it, that would have been long ago dealt with, the worst china could do is to only ban it's citizens from using it, but how effective is that when there's p2p?.