What are you talking about? the committee was assembled weeks if not months ago to look at the situation. For you to say they are all of a sudden looking to ban crypto and it's fud is really ignorant, they already banned selling crypto for yuan and icos a year ago.
On the contrary, China has been threatening ban after ban for the last six years. It's more like "the boy who cried wolf" than anything else. The Chinese government is incredibly divided and fickle and you never have any idea what they're
actually going to do. I've lived through literally dozens of "China Bans Bitcoin" rumors (including government committees and statements from PBOC officials) that never materialized. When all the talk of bans arose throughout 2013-2014, all they did was ban commercial banks from holding/trade in crypto.
The only substantive ban (the exchange/ICO ban) was done in the middle of a bubble, which may be relevant here because the government has repeatedly cited over-speculation as a concern. During 2015-2016 (which I think is a better parallel for where the market is) they didn't pass any regulations at all.
All that is to say, I wouldn't be confident in any particular outcome here. Much like Russia, nothing the Chinese government has ever threatened has ever been a sure thing.
Either way, miners have been steadily exiting China for 1.5+ years so this is all being blown out of proportion. If anyone believes Chinese pools are representative of Chinese hash power, they are a fool. Mining businesses stopped receiving energy subsidies in January 2018, and
according to government reports, "many Bitcoin mines in China have stopped operating" since January 2018. All the biggest miners have expanded outside of China or entirely moved their operations to Iceland, Canada, the US, etc.
By the way, they never banned trading CNY for Bitcoin. China actually has a really robust OTC market. They banned centralized crypto/CNY exchange platforms. One of the little-discussed motives of adding centralized exchanges to the blanket ICO ban was to stop the exchanges
from continuing to act as shadow banks. The issues around money laundering, shadow banking, and capital flight are more complex than this idea that China is simply on a rampage against crypto.