I think the chance is very more likely that this ban is a fraud, China in it's obsession to become economically more powerfull knows very well the power behind the movement that is cryptocurrency and most likely is looking at how this can play a role in the very much anticipated shift that will happen anytime in our lifetimes.

I personally think that any government that stimulates cryptocurrency is going to benefit themselves and country immense by participating, though I'm not sure if they realize that yet themselves. But time is surely ticking, the adoption of new tech goes at an increasingly faster pace.

Also crypto whether succes or failure in solving the issue, seems from an ideological point of view to satisfy a huge and growing dissatisfaction surrounding central banks.
People are more than glad to take away their power any means necessary but for a long time people have been stuck playing their game with no escape card. It seems that that card has finally entered the deck and it's been shuffled and dealt only waiting to be played out.

Interesting times it are, everything goes faster than ever before.