According to the People's Bank of China's (PBOC) 2019 China Financial Stability Report,the closure of Chinese cryptocurrency platforms did not affect the state of the country's inhabitants.
Thus, all 173 Chinese crypto platforms were closed without any major scandals from the citizens of the country. cnLedger writes about this, in particular.
Just in: "The 173 Chinese virtual-currency trading and token issuing platforms have all exited without risk", from PBoC's newly released China Financial Stability Report (2019).
Source: https://t.co/AScw6QNefKhttps://t.co/nVaC1bGCrd
— cnLedger (@cnLedger) November 25, 2019
Thus, the Chinese government becomesmonopolist in the field of digitalization, having complete monopoly and control over the development of the digital space in China in the future. Perhaps such actions are a lever for the imminent release of its own digital cryptocurrency, which the regulator has been working on for several years.
Note that at the time of writing, Bitcoin managed to correct the fall in the rate to the level of $7,000.