There is actually no legal problem with that because Bitcoin is not being banned so people can still buy/sell the cryptocurrency but they can not anymore do it in Bitcoin exchanges as they are already closed for now. That is why there is a resurgence of transactions right now in LocalBitcoin.com. Peer to peer exchange is not prohibited. I am sure that soon Chinese can find creative ways to own Bitcoin and to move them anytime. Chinese are also very creative and resourceful people.