China is doing a good thing by cleaning up the industry, getting rid of hundreds of fake coins because there were too much speculations. China is making sure that the crypto exchanges hold the equal amount of coins that they claim they have for the customers, they don't want their people to play the western style paper derivatives games.

https://steemit.com/bitcoin/@goldman168/china-s-ban-on-bitcoin-is-nothing-but-a-bunch-of-fake-news