I read somewhere yesterday that China is welcoming all crypto exchanges to its country for a peace operation, US don't know what they are throwing out of the window right now, crypto isn't the reason why the USD is losing face, they are trying to make it look like that, but I suspect that many US citizens are moving their money off bank accounts into crypto investment and the government doesn't like this.
As far as I know, China has been banning cryptocurrency for years and companies are forbidden to register for licenses even if they will provide their services to people who do not live in China.
There are other countries that accept cryptocurrency companies, such as the UAE, which facilitate obtaining licenses and erection on their territory.