Quote from: Zlantann on Today at 06:06:22 AM

I don't think China totally banned crypto transactions. If Binance did monthly transactions worth $90 billion in one month last year, I don't think the government is not aware of it. The Chinese government only made crypto transactions very difficult to reduce fraud. Don't also forget that Hong Kong looks like the crypto laboratory of China.

You can do fact check with Regulation and Legality of cryptocurrency in China.

It's illegal there and no signal from Chinese government that they will lose their regulation on it, but locals don't mind and still have cryptocurrency in their portfolios.

https://newhedge.io/terminal/bitcoin/legality-map
https://complyadvantage.com/insights/cryptocurrency-regulations-around-world/

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China's central bank announced in September 2021 that all buying, selling, transactions, and mining of Bitcoin and other cryptocurrencies are illegal.

Countries Where Cryptocurrency Is Legal vs Illegal

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Despite Its Illegal Status, Crypto Ownership Persists in China, Egypt and Others

An estimated 4.08% of the total population in China (or 58 million people) currently owns cryptocurrency. With that, China boasts the second-largest cryptocurrency ownership base globally, in spite of its comprehensive ban on cryptocurrency activities since 2017.