In the short term

China 🇨🇳: Talk of a new comprehensive ban that could even include individual ownership of cryptocurrencies, leading to selling pressure and fear

For news 📰: Reports suggest a new Chinese ban that may include individual ownership and storage of digital currencies, representing a major escalation from the previous ban on trading and mining.

Credibility ✅️: There are doubts (such as from Forbes) that this is merely a tightening of existing laws against using crypto as currency and money laundering, and not a new ownership ban.

Impact: If the ownership ban is true, it would force millions in China to sell, potentially causing a collapse in prices and increasing panic globally. Even rumors harm the market.

Context: The goal may be to push the digital yuan and financial control, which contrasts with Hong Kong's regulatory approach.

Conclusion: The Chinese threat is serious in the short term due to the market size and the impact of news (even if rumors) on global investor sentiment.