I don't understand why they choose the Chinese scenario with ban, then regulation. Why not start with regulation? What do they gain from the ban?
Regulation takes a long time. Ban is quick.
It is a first aid (more like quarantine) to stop spread of the disease (pretend ICO designed to scalp many investors).
I am all for it and will eventually lead to a much healthier crypto environment.
NOTE that this is FAR from cryptocurrency ban which some seem to mistakenly equate.