I have a tough time believing that China is banning anything. As stated, they are allowing the miners to operate. If they wanted to ban Bitcoin, the miners would be the first to go.

China doesnt want to ban bitcoin, it wants to control it. Hence, look for a government exchange set up so the Chinese people can buy BTC, on the government's terms.

China has no natural resources. This has caused massive problems for it over the centuries since all had to be imported. China now has a way to be on equal footing with the rest of the world and, if nobody notice, basically took the lead in the world of crypto.

Excellent article.