I think it is unlikely they push the draconian laws through long term. However if they do, it will only result in China being marginalised. Money will just move else where (going to Japan, Korea) as Simon Dixon has pointed out. Exchanges can set up shop elsewhere, like Hong Kong, Singapore, etc, therefore in the long run they will achieve nothing. No one will be able to hold back the crypto currency revolution !!!
I think it is unlikely they push the draconian laws through long term. However if they do, it will only result in China being marginalised. Money will just move else where (going to Japan, Korea) as Simon Dixon has pointed out. Exchanges can set up shop elsewhere, like Hong Kong, Singapore, etc, therefore in the long run they will achieve nothing. No one will be able to hold back the crypto currency revolution !!!