The the decision of the People's Bank of China to ban ICOs are seeming a bit radical as the playing field is new and obviously located within a realm within this realm. The Blockchain, to be more specific "the Ethereum blockchains" has been a breeding ground for numerous new proposed service and great business concepts that may or may not be backed by legitimate parties. I once heard a term somewhere "chaos is a ladder". In the realm of Cryptocurrencies it certainly is.
All over the world where these new currencies and tokens are popping up Parties like the USA government are ever releasing publications and comments about regulation of Bitcoin and other Cryptocurrencies. All this talk about regulation yet at the same time adapting the Blockchain technology into their current infrastructure. Doesn't that say something about the profound superiority of the technology that is is being use to upgrade the underlying systems of nations ?
Attacking and fighting Cryptocurrencies that has a working function is all for naught if your not actually trying to get on board. These Blockchain currencies like the fight as it is making them stronger especially if they are understood and function as they should.
Blockchain has caused a slow change in the job industries as well as the education industries. There is no stopping it. The crowd is speaking and the rulers have heard what them and are bracing themselves.
If governments can't make money from cryptos then they will try to shut them down or gain control over them somehow. Banking and payment processing are taking a loss as cryptocurrency adoption increases.
They have been trying for almost 6 years now, The measures it would take to shut down Blockchain technologies would have a recoil effect to the current structure of their system. They're already adapting slowly in disguise.