$BTC Strict capital restrictions in China make it uncertain whether the conference in Shanghai will yield results. The country banned cryptocurrencies in 2021. Issues of financial system stability halted trading and mining.

The country accounted for half of the world's Bitcoin mining processing power, or "Hashrate," before the ban. Hashrate plummeted as miners shut down and relocated following news of the crackdown.

Although the ban initially caused harm, BTC processing power rebounded by 2022, demonstrating that the network recovered quickly. The mining sector has grown since then, and the global Hashrate now exceeds pre-ban levels by five times.