China is still run by a Communist regime and as much as they are embracing capitalism it is still not a free market. The Yuan is much more susceptible to being trashed by crypto currency because the valuation is not set by the free market like Bitcoin. So they are threatened and who knows they may be trying to create their own version of a crypto blockchain which they can control with their central bank. Whether or not they try to do that I think they will soon regret the BTC and crypto ban.