I think that's a good news, because I do not trust ICO projects developed in china, but it's bad news for the pennies that will affect the price of the pennies all over the world.
I think this is normal. because even before that China had banned crypto so I wasn't so surprised by this. I don't think we need to think much because there are still many countries that support crypto.
I am sure that China will eventually support crypto if crypto is increasingly accepted by the public.