FYI regulation would be them simply saying, exchanges can stay open as long as they follow KYC rules.
Maybe if you are in the US or EU. China is a totally different government, and they want to have full control over all crypto transactions, not only avoid some money laundering. But I wouldn't even be surprised if they ban all the exchanges and only allow one controlled by them to operate.
How can ? does not china have banned and will never be caught again? I am more confused at the policy of china. What really happened
China never banned Bitcoin. They only asked all the China exchanges to stop all the CNY tradings. They are planning to regulate those exchanges, or maybe even close them while they create one fully controlled by the government.