during the next bubble when the Chinese Govt and the PBoC starts up again with more threats of banning and other such nonsense.
Actually I did not come across right in my posting.
I believe that the Chinese government
may care about what is going on inside the exchanges, and may still crush them harder, if it turns out that they have been grossly scamming their clients, or if they try to do that in the future. Like that exchange that went poof a year or so ago, whose owners were chased down and jailed.
For that to happen, I belive that several rich clients would have to lose lots of money at once. Or the exchanges try to cheat the government about taxes, money laundering, etc. However, if the exchanges are "only" slowly bleeding the small clients, by front-running, manipulating the price for pump-and-dump rides, or faking their numbers, I don't think that the government will care.
