They are banning ICO and even Bitcoin currency so many times before but the truth is as one of the most advance countries they realized how important and how huge will be the opportunities that will going to lost if a certain country will not grab the crypto currencies existence as investments. Sometimes i will think that there just banning Bitcoin and other crypto currencies before because i believed that they will just want to manipulate it in order to control the crypto currencies market but they always failed.
They would surely fail because cryptocurrencies are decentralized which means full control isn't possible.They might able to control some aspects but on general matters then its an impossible thing.I do agree that they had already make lots of decisions towards crypto banning and prohibiting them but still they do end up on failing and now they are re-considering and this adoption or regulation of ICO would be a good news since we do know the capability or involvement of China into things.