What would people face in china if they buy crypto ?
I'm certain that they will not face the wall of a prison cell. The pronouncement about banning ICO and closing exchanges is not pointed to citizens of that country but to marketing side. You can still buy bitcoin, Chinese friend of mine told me but through other means. And I think china just want to regulate this kind of investments for they're people's protection from scammed ICO.
If this is the case then there is really no cause for alarm but come to think of it whats will be the point of owning a bitcoin that I cannot convert to fiat for use since stores don't accept bitcoin yet, and government is coming again to ban the middle men that could made it possible. Wouldn't that mean the same thing as banning bitcoin within the country? All the same, I am anxiously waiting on the Chinese members of the community to give updates on the implementation of this policy.