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RE: Breaking: China To Shutter All Bitcoin Exchanges - An Interview with Simon Dixon of Bank To The Future
This will be positive for the long term of BTC & LTC. This is not the first time China has banned exchanges. It did in Dec of 2013 and when they reopened it shot up, color me surprised if they do the same thing again. I noticed none of the mining farms have been asked to close. CryptoCowboyRocks
I read somewhere else that the ban is likely just a temporary thing, the same as you're saying. Maybe it's just a show of power, without real long term policies backing it.
Its the gov't flexing until they can figure out what to do, they know it can't be stopped just need to do their best to "shut it down" until they figure out how to regulate and or get their share. Which the may for a little while.
Especially in the cryptos world, the users have plenty of technical knowledge to work around most governmental obstacles. For certain countries, this is definitely a good thing.