China is just like Russia when it comes to politics they are dictatorships but China recognizes something it cannot change: the capitalist economy. Consequently, they created a system where they can be both capitalist and dictatorial while still becoming a very wealthy nation. The Chinese government wants data on every Chinese citizen specifically, how much money each citizen living in China has and the source of that wealth. This allows the government to ensure that, even with significant wealth, people remain obedient to the Chinese Communist Party.

Think of it this way: the Chinese government knows there are for example ten billionaires in China; they know exactly which businesses these billionaires operate and which banks hold their money. This gives the government control over them. They can tell the billionaires, "The Chinese Communist Party is in charge, and you owe us obedience," and the billionaires will yield. Of course, the average Chinese citizen would be in a far more vulnerable position than the billionaire and would have to comply with everything. However, if the Chinese government allowed Bitcoin to be accepted and used by all Chinese citizens, the government would no longer know how much money each citizen has, where it is stored, or whether that money might be used to alter China's political landscape.

Lift the ban on Bitcoin, not lift Bitcoin.
 
If they want to get profit from Bitcoin, they can accumulate bitcoins and they have abundant hydropower for Bitcoin mining if their government want to participate in Bitcoin mining industry. If Bhutan government can do that, Chinese government can do that at bigger scale because hydropower in China has bigger capacity than in Bhutan.

They can allow Bitcoin exchanges, trading and get money from their citizens, it's another way to collect bitcoins from citizens together with a fastest way: Bitcoin mining.

That crack down on Bitcoin mining was years ago, two market cycles ago in 2021.
BTC Hashrate Is Making Recovery After China’s Mining Crackdown.
China’s Crypto Crackdown: Bitcoin Mining’s Dramatic Fall.
US Dominates Global Bitcoin Hashrate Following China's Regulatory Crackdown.

Recent years, China has a trade war with the USA as well as tightened pressure from Western nations against China, so they don't have reasons to remove bans on Bitcoin market because it will give very great opportunity for Chinese to move their money out of China mainland through Bitcoin more easily and legally.

China's cryptocurrency ban history, impact and future outlook.

Year	Action	Targeted Activity	Primary Authority
2009	Ban on virtual game currencies	Purchasing digital game credits with yuan	State Administration of Radio, Film, and Television
2013	Banking ban on Bitcoin	Bitcoin transactions via banks	People's Bank of China (PBoC)
2017	Exchange & ICO ban	Domestic crypto exchanges, ICO fundraising	PBoC, Ministry of Industry & Information Technology
2021	Full transaction ban	All crypto trading, payments, and fundraising	PBoC
2021	Mining crackdown	Power-intensive Bitcoin mining farms	National Energy Administration

If this is true then I don’t understand how some government think about some policies, I wonder how it will make sense to own allow citizens own properties but not all them to trade them. When One isn’t allowed to trade them does it still hold that value? To me it’s doesn’t, since owning it doesn’t really make life better for me within the country.



Might just be them tweaking their IP addresses, that isn’t really hard to you know. Since the Chinese government ban crypto, their citizens never stopped crypto activities.

I only see sanctions from the USA on other nations and on cryptocurrency centralized exchanges but I don't see China sanctions on such companies. Please correct me if I am wrong about sanction actions from CCP. Their government has restrictions and prohibitions on citizens and business but there is no similar sanction like the USA government do.

Beijing’s stance on cryptocurrencies hardens.

China is a hostile and brutal nation even with Chinese citizens, and with many industries in the China mainland. They don't only do this with cryptocurrency industry and things became more terrible under the Xi JinPing era since 2012 especially since 2022 after Xi JinPing got a third term and already changed the Presidential term limit in 2018 to no limit.

Xi JinPing want to be a leader of China CCP until a day he passes away and if he actually succeeds to do that, it's unrealistic to hope for any more open changes in the China mainland. There will be a lot of negative effects and consequences in the country under Xi regime that has yet reached to its worst.

China is also hostile to neighbor nations in ASEAN, and it's not a government you can trust and cooperate with because they never want to play fair.

Many articles mislead their readers, this is how important to verify the sources they are reading.

Also much better to read multiple sources, to know if the latest information they read is true and the article creator is not bluffing around for the sake of views or traffic.

China still holding their ground to ban crypto and related activities. Then I think their stance will not change, since they are known for protecting their interest and maybe they realize that its better to maximize the exposure and usage of their own currency, also related products than adopting on something that they don't own.

No, the ban was not lifted, the rather make an open expression over their take on Bitcoin that anyone that is found involved in it can decided to hold it at his own risk, without the support of the government on it, this shows that the are rather something and implicating danger of having bitcoin as individuals despite the fact that being not supported by them.


There is nothing changing here because they are not still changing on their initial ground over Bitcoin or cryptocurrency, and even if anything should happen now or in the near future, I don't think it will place a significant difference over there crypto networks or bitcoin market value.

Hong Kong and Macau are Chinese territories with separate administrative systems. Regarding cryptocurrency activities specifically, these two regions allow them for residents(unlike the mainland). I assume the people you saw on okx hold residency status in those two regions.