my general view on this is that China is either threatening to ban, or actually banning, all crypto-related activity, including mining. However, it's a short term play with a very specific purpose. It's in order to move the industry to a much more Government regulated position. It's hard to say 'everyone be regulated' if they have no control over the market. Suppress the market and allow people back in who are regulated. A regulated crypto economy is then an easier sell.