The Chinese government banned bitcoin and all trading connected to it, says it has no regulation and cannot be adopted to their system of foreign exchange. Now they tend to adopt and make use of NFTs, says it's under control. Why can this be? With this issue, it might cause other countries under China to do same.
Bitcoin banning news is nothing new for China. They have made many such announcements before. They are basically finding ways to control their people. Banned all business related to Bitcoin while they are leaning towards NFT. Above all the Chinese government has lost control over BTC. Such a situation can no longer be considered as threat.