Jinse.com, a Chinese media outlet reported that on 1st of October, new laws which are going to regulate the use of virtual currencies are becoming effective. A set of laws were grouped under "General Principles of the Civil Law of the People’s Republic of China" and were voted on March 15.
Cryptocurrencies will be considered virtual property and the ban on the exchanges was motivated by the fact that most of the platforms were not seriously implement anti-money laundering policies.
The new laws will not try to crack down cryptocurrencies but only certain actions and 2 exchanges will be operational again on 1st of October.
Source: https://news.bitcoin.com/virtual-currencies-expected-to-regulated-in-china-on-october-1st/
