China Unbanning Crypto?

Today, one of the major crypto headlines was that China was considering "unbanning" crypto. I've heard so many conflicting stories of crypto being banned in China, or crypto being unbanned...or ICO's being banned... I have no clue what the hell is going on.

Maybe a Chinese friend here on Steemit can give us some true insight into the situation?

If crypto is TRULY banned right now and has been for a little while, opening up the Chinese markets will likely cause significant volume and price movements across the board for cryptocurrency. China has a massive part to play in global adoption of crypto, especially with significant projects like NEO making great strides.

I'm excited to see what the future holds for crypto and specifically crypto in China.