Some people might see this as a positive development, as it could lead to increased regulation and oversight of the cryptocurrency industry in China. This could help to protect investors and prevent fraud. Also, it could help to legitimize the cryptocurrency industry in China, which could lead to increased adoption.

The impact of this development will depend on how it is implemented. If the government is able to strike a balance between regulation and innovation, then it could be a positive development for the cryptocurrency industry in China.