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Apart from this ICO ban, how has the Chinese government acted against Bitcoin? If anything, the large presence of Chinese miners in the blockchain space should

• Animats 9y ago
  "Mining" looks like an export business from a Chinese perspective. Mining companies build facilities in China, hire people in China, make something of value, and export it. That's encouraged by policy. "Exchanges", though, are iffy. Those are financial institutions, and the PBOC can regulate them if they want. They've done a little regulation, clamping down on margin and accepting credit cards to buy Bitcoin. Bitcoin used to be down in the noise as a way to get money out of China, and was tolerated in the way that putting all your relatives on the train to Hong Kong loaded up with 20,000 RMB each is tolerated. The numbers for Bitcoin are getting bigger, though, making PBOC action more likely. A few years ago, it looked like yuan convertibility was on the horizon, but that didn't happen.