Spot on...you nailed it.
Thank you for the insight into Communism...something that most of us dont have...an inside view.
Even without that knowledge, I know that China has no prayer of banning cryptp (I believe they dont want to anyway...they want to control it, not ban it). People say the Chinese wont be able to be buyers....bull crap...much of the Chinese money is out of China. In the US from 2013-2015 many single family homes were bought for cash using...wait for it...Chinese money. They also were investing in gold mines, copper fields, and probably '57 Chevys...anything to get out of the Yuan.
The Chinese will buy crypto regardless of what the Chinese government wants. There are more technologies coming about that will allow the chinese inside the country to bypass the state's filters and get on the world wide web.
It is a done deal...cryptos are beyond government control.
By the way, it looks like Dimon is at stage 2 of grief...lashing out like a little kid.
RE: Why China (or governments) can’t stop crypto. How Chuck Norris proves this fact from communist history