Great, they've managed to make all thriving crypto related businesses move abroad, taking their money and their taxes with them. It's like saying that making a client stop doing business with you is a victory. Sure, it is, if you're all about earning less money, be my guest. There will always be others.
Falling volume doesn't mean that your citizens aren't trading Bitcoin, you bank morons. It only means that they're using other currencies, the ones that you can't block.
Also, they lost a very good opportunity to be the country that would have used bitcoin versus the USA as a leverage by demanding that bitcoin be the currency used in imports and exports. But what can they do if all they want to do is keep hoarding useless paper, the US dollar.
It fell on China's lap and would have been the leader in bitcoin's mining hardware production, mining, commerce and software development. But by
killing it in their country, they have placed themselves in a position where they would play catch up versus other countries once again.