The lifting of a ban on cryptocurrency in China, if it were to happen, could have a significant impact on the cryptocurrency market. Given China's large population and strong economic growth, the country has the potential to become a major player in the crypto market.
However, it is worth noting that the regulatory environment for cryptocurrencies in China is likely to be quite different from that in other countries. The Chinese government is known for its strong control over financial markets and technology, and it is likely to implement strict regulations on cryptocurrency usage and trading.
If these regulations are perceived as too restrictive, it could limit the adoption of cryptocurrencies in China and dampen the potential impact of the lifting of the ban. On the other hand, if regulations are seen as reasonable and promote the growth of the industry, it could lead to increased investment and greater demand for cryptocurrencies in China, which would drive up prices and bring greater legitimacy to the market as a whole.
In short, the impact of lifting a ban on cryptocurrency in China would depend on the specifics of the regulatory environment and how it is perceived by market participants.