Ministry of Finance has the final authority for money and financial matters. Have a look at USA China trade war where Donald Trump has put $150 billion tariffs on Chinese imports.
Looks like China is the next to ban Bitcoin
China has banned & unbanned bitcoin about 10 times
This is just good ways of manipulation for huge whales of the cryptomarket. They use such news to pump and dump coins.
China baned ICOs, not cryptocurrencies in total.