Hahaha. Yes, in communist regimes as you specified. Meanwhile in the USA gov't everybody is competent and go to their position through competence. As we've seen.

Anyway there's no reason for somebody who can just take a huge bribe on a construction project to learn about pumping & dumping bitcoin. Gov't associated old farts in the west haven't understood btc and keep saying it's a waste of time; hard to believe the Chinese are that much smarter. Also gray markets actually tends to benefit China and any corrupt officials worldwide.

If you must see an adversarial angle here then how about this: at first China/PBC thought bitcoin is an oppositional force to dollar dominance and encouraged it. Then they realized most bitcoin are owned by westerners, and pumping it actually is profit to the west more than it is to the Chinese. So now it's discouraged.

Anyway I for one am buying now that it's low. Let whoever thinks like Buffett that btc has no intrinsic value be left behind.