"There is a channel called China Crypto that has been very accurate in their information pertaining to chinese coins especially VEN.  The latest news is that all chinese exchanges are about to get hit hard.  This includes KuCoin, Bibox, Huobi, OKEX.  From what they state Binance is fine. Now I don't know how they have this information, but what I do know is that their track record has been extremely good in the past regarding Chinese News and personally I will be exiting those exchanges. The following is their postings on the subject below. Finally Binance is and will be fine, and in their opinion the coins that will feel the most hit will be Loopring, QTUM, NEO, TRX.  VEN is clear in the matter because apparently they have been in compliance since first round ICO."
There will be 3 things that are affected to varying degrees. 1. After the september 4th ICO ban, Mainland China-based projects were forced to refund their ICO token issuance and Chinese citizens were effectively banned from participating in ICOs.  However, the Chinese historically have always found ways around these types of regulations and noticed that there were two connected legal loopholes.  The first is that whielists are considered private investor lists, making it effectively not an ICO annd instead a blockchain investment project (also requriing way less document verification), the second is that people would use KYC from say, a Taiwanese guy, and then they would pool funds to invest in that guys name.  This is called fund pooling.

This is especially problematic for NEO (office in Yangpu District, Shanghai) because they oversaw and hands-on advised multiple ICO's on their blockchain that were both based in China and utilizing these loopholes.  Deepbrain is a good example of this. 90%+ of their investors were mainland Chinese.  My mainland Chinese friends participated in these ICO whitelists and I think you guys have for a few ICOs too.  Qtum is also going to be affected but to a lesser degree because they are based out of Singapore.
2.  "Air Projects/Air Coins/Air Tokens".    The current legal requirements for Chinese projects is that if they wish to remain in China they need to move the token department overseas.  This means that you can have a mystery development team and make lots of promises.  So many of the blockchain projects (and this is by no means unique to China but its especially prevalent) are completely fake projects.  "Air projects" meaning a project without working product/code of any kind, just promises.  Most ERC-20 coins for example.  That's why verifying partners is important.  Take VeChain as an example with PwC.  They both signal that they are partners and now you have a mysterious China coin that is essentially authenticated by a Top 4 auding company.  So the Air Projects will get absolutely smashed
3.  Exchanges: currently most fiat to crypto is done otc (over the counter) in Wechat groups or via some p2p websites like localbitcoins.com.  Whilst they do use more otc trading than we do, they mostly use the same exchanges we all use.  On September 4th all exchanges in Mainland China were ordered to cease operations.  The ones that decided to continue on as a business decided to do what most other blockchain projects did: move token operations outside of Chin but leave business operations inside.  This is when the Chinese exchanges reopened with little fanfare in the form of international platforms and used their Mainland properties for "blockchain analysis".  Huobi, for example, moved to Huobipro.