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China's Bitcoin Ban Was Good - Here's Why!new.cryptoqamus.com � technology � bruised-by-stock-market-chinese-rush-int. HONG KONG -- Cryptocurrency transactions in China have picked up in recent months despite a ban in September , suggesting that trading. Despite being banned, the Chinese crypto market recorded an estimated $ billion in raw transaction volume between July and June , dwarfing Hong Kong, which witnessed $64 billion in crypto trading, Chainalysis said.