Regulation and restriction will solidify the legitimacy of crypto as a form of currency, as counter-intuitive as it sounds. A government banning something that people use signals that the government has recognised and acknowledged the threat of it. Similar to how China cannot acknowledge Taiwan as an independent region, governments generally cannot acknowledge cryptocurrency.

However, this does not apply to China solely due to the overbearing government presence in everyday life. The communist dictator holds a scary amount of power, especially after his most recent power grab. This power controls the culture and if the communist government does not like crypto, the Chinese people do not like crypto.