This news really makes investors feel nervous as most investors expect China to recognize electronic money as legitimate. But the Chinese government is taking steps to ban all ICOs and this is a totally unfavorable thing with electronic money. I hope the market remains stable and continues to grow.
This news is old from last year and since The country changed their mind about this (if I am correct)
Yes, China is accepting cryptocurrency and the Government of China changed their mind because Bitcoin and other cryptocurrencies that produces ico can help their people to have a lot of profit, so they pushed it and it is now under their law.