Our sub-indexes show that China is especially strong in usage of centralized services, placing second overall for purchasing power-adjusted transaction volume at both the overall and retail levels. This is especially interesting given the Chinese government’s crackdown on cryptocurrency activity, which includes a ban on all cryptocurrency trading announced in September 2021. Our data suggests that the ban has either been ineffective or loosely enforced.

bitcoin

Any research on "Bitcoin Culture" in China?

nullcount

Chainalysis 2022 report:
![table](https://imgprxy.stacker.news/UUua3e4jOt3uEkZEICMDiFj5tMwiOVmqy4nw3VN4M1U/rs:fit:600:500:0/g:no/aHR0cHM6Ly9iaXRjb2lubWFnYXppbmUuY29tLy5pbWFnZS9jX2xpbWl0JTJDY3Nfc3JnYiUyQ3FfYXV0bzpnb29kJTJDd183NjAvTVRreU16STRNVGd3TWpRNE16VTJNems0L3NjcmVlbi1zaG90LTIwMjItMDktMTQtYXQtODM5NDAtYW0ud2VicA)
> Our sub-indexes show that China is especially strong in usage of centralized services, placing second overall for purchasing power-adjusted transaction volume at both the overall and retail levels. This is especially interesting given the Chinese government’s crackdown on cryptocurrency activity, which includes a ban on all cryptocurrency trading announced in September 2021. Our data suggests that the ban has either been ineffective or loosely enforced. 

https://bitcoinmagazine.com/markets/china-back-among-top-10-crypto-using-countries