China has no choice but to get back into the cryptospace or get left behind.

This will set a good example to other countries who may try to ban blockchain technologies.

One thought: China is known for manipulating the price of gold so what if these two timed announcements, first about banning all ICOs, then about banning bitcoin exchanges were intentional? Perhaps China was the biggest buyer of bitcoin when its price dropped briefly below $3000 in the days after the announcements.