Most politicians are all about power and want full control, in China it is more marked, but it's the same in many other countries. Take a look at the fallout between the Chinese government and Jack Ma's Alibaba, the crackdown on him was [allegedly] due to some of his opposition views with that of the CCP. If they could do that to one of their largest tech companies, I doubt they care much about the benefits of binance or any other service, if it contradicts their strict regulation policy.
Bitcoin is designed to resist regulations and as such would not be accepted by the current Chinese government.

This happened multiple times in the past and China always lift there ban once the news doesn't affect the price anymore. I don't think so that only Chinese whales is the reason why the price is down. Its a combine token of both western and Chinese whale. Chinese whale is not totally out on Bitcoin IMHO.

Maybe we should stop associating miners with the whole country. As far as I can tell the 'new' regulation concerns are about coal mining, if it is solved, it might not be a problem anymore. If that doesn't happen, I bet the network will still live on.

Sometimes I wonder, why it is always China, instead of some countries in Europe or the US itself.

If you are expecting that China's exit from Bitcoin will make them poorer or weak, then you nees to re-think seriously. At the same time if you are thinking that adoption of bitcoin will help western countries to rise their economic power, same thinking exercise is needed.

You believe it or not, China thinks 50 years ahead. Their plan for next 50 years is ready and actively being monitored by their president's office. They also make room for surprises and contingency plans are also ready at the same time! So we are happy that China has decided to move out of bitcoin because we don't certainly want an authoritarian rule over bitcoin miners. And  that's it!

china china china again, endless posts about china,,starting from china banning bitcoin mining, china forbidding bitcoin exchange, now new news about china's departure for bitcoin, just let china go, and see for sure other countries will take over bitcoin , so that other countries can compete with the Chinese economy...

In 2017, any kind of negative news coming from China really affected the cryptocurrency market. I could not actually imagine that in 2021, the same thing can be happening again. The big difference is that China is now so bent on kicking anything related to Bitcoin out of the country, hence the miners are getting out of the country and transferring their business somewhere else. Hopefully, by 2022, there will be no more China factor. The purge has to happen right now. We don't need China. China does not need us so the feeling is mutual!

such news from China has become very boring and at such times the whales are manipulating the market fake news as well as they hit sentiment Uninformed investors will start to panic dumping wildly and that is the main goal that the Chinese whales want to create.