China's crypto crackdown seems to be hitting a snag.

Despite a two-year ban, authorities busted illegal crypto operations worth billions, including a massive $1.9 billion underground bank. This widespread activity suggests citizens are using crypto as an investment or to move money abroad. Experts say lax enforcement and crypto's decentralized nature might be to blame. While down from pre-ban times, $86 billion flowed into China in a year, highlighting continued interest in digital assets.

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