What's happening is the Chinese are frustrated that they can't appropriate BTC to the level they want.  That's been the history of western business ideas and China's reaction for decades.  We invent something and they copy it and try to absorb it and make it their own.  Can't do that with crypto.  There's a paradox here where the Chinese are excited about crypto and sense that there's something definitely powerful in it, but they don't fully understand the technical aspects of it.  They'll be back after they figure out how stupid this move is.  I'd make ANY bet on it.  Screen cap this and watch what happens.