As we have recently seen China has banned cryptocurrencies for about the 20th time this year and some people are fearful while other people are buying the dips because they believe in the future of cryptocurrencies.  With the recent ban of crypto in China it seems like they want to make an example of people saying that people with crypto would face 10 years in prison with this it seems like they are pretty serious about the banning this is probably based on China wanting to launch their own cryptocurrency named the Yuan and they don't want competition to the digital coin they are releasing.  Unlike regular cryptocurrencies which are decentralized and pseudoanonymous the Yuan would be a centralized digital currency with social scores, profiles on the holder including identity and spending habbits along with the government being able to freeze or take away funds whenever they want.  This is not the reason cryptocurrencies were created and I have nothing against governments creating their own cryptocurrencies but they shouldn't ban all others in the process people should have the right to choose what they want to invest in without the fear of prison time over their investments.