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China continues its war against cryptocurrencies, the most populous country in the world continues its fight against cryptocurrencies. It is also no secret that the Chinese authorities are working on their version of the digital currency, testing of the e-yuan has been going on since last year. China officially banned BTC from trading a few years ago. Despite this, citizens circumvented the ban and BTC exchanges and bureaux de change continued to operate on the Chinese market. This time, however, China's actions are more aggressive. Authorities are hitting the Bitcoin mining market by banning such operations in many of their regions.
The ECB and the Federal reserve are also working on their CBDCs.