~ We all know that China has a total ban on cryptocurrencies, including but not limited to no mining, no circulation, no trading, no banking services, no listing on exchanges.
What do you think countries have to lose by making this choice?
China has blocked a lot of things besides Bitcoin/Cryptocurrency. Call it popular search engines like Google, social media like Whatsapp, Facebook, even TikTok, which is known as a social media made in China. And they never worry about that, because they already have something to replace all that things.
I'm sure they've thought about the impact of a ban on Cryptocurrency activities. With their technology and economic strategy, it seems that China has nothing to lose by banning all Cryptocurrency.