image by Cryptocompare.com
If they indeed end up banning exchanges trading will just move to the black market like everything else that's "banned" in China. It will give a boost to decentralized exchanges such as Bitsquare, Bitshares and OpenLedger. The genie is out of the bottle, governments should concentrate on beating their opponents at this race rather than creating obstacles that can only leave themselves behind
There is also a lot going in the Ethereum space. 0x, Oasisdex.com and Etherdelta.io are innovative projects with a lot of potential.