According to
https://t.me/oneminute_crypto_news which translated the source from Sina, a Chinese media website, that in a conference held by Chinese official web media, People's Web, a famous scholar Dong Yang released that Chinese SEC is conducting the legal research to legalize the ICO and the ICO will become a legit tool of crowdfunding soon.
I agreed that Dong Yang is not a high-level official and he is a professor at Renmin University who is active in the crypto space. I think the focus of the news should be:
1. The Chinese SEC is revisiting the crowdfunding tool;
2. The so-call legit ICO may actually become a tool with heavy regulation in the cryptocurrency space.
So, please wait and see.
i think this is a fake news, i research and found this article in the web
https://www.investopedia.com/news/bitcoin-banned-china/this is the most recent update in china where they restrict and ban the cryptocurrency in their country, so better you give some link in what you are saying mate so that you have some proof on what you say, if do have some proof of this its kind of a good news in the crypto world.