I am actually glad that China is cleaning their crypto roads properly as the ICO market has evolved into a mega scam fest. It's just China that is doing this, but if we look a bit further, then I can definitely see more countries follow these actions.
Seems like South Korea are already heading in that direction. It will probably snowball as more countries get on board. Although I suspect enforcement will be about as problematic as it is in every other aspect of crypto. They might catch a few of the bigger scams and make an example of them as a deterrent, but the smaller ones will be much more difficult to track down and convict.
