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Now the Chinese government has banned all transactions using cryptocurrency, meaning that the Chinese government does not support the development of cryptocurrencies that have been developing so far, and at this time when looking at the conditions of the cryptocurrency market are very apprehensive.
Chinese government has banned the use of cryptos particularly bitcoin. But with the launching of their own digital Yuan, they make it a point that it would create fast global adoption and expect that all people paricularly in China will patronize the use of their own digital currency.
But things seem not to work out because most of the people are still attached to bitcoin and still making transactions online. People are looking for freedom so they will stick for sure to bitcoin rather than being controlled by the government.