China closing exchanges?

So information was released around two days ago now which coincided with another dip to the price of bitcoin and many other "strong" coins.
If china really does ban exchanges just like they did ICOs then you can see 10s of billions just empty out of the market cap once again except this time not to return for a while. It is not the first time china has essentially banned the use of cryptos but we shall see what comes of this. News has all ready sent many coins relying on btc on a bearish trend and it isn't set in stone yet. I'm not sure if this will help steem in the long run either but at least steem is still here to stay.