13 departments join forces! Is the strictest regulatory era in the cryptocurrency world coming?
This afternoon, the central bank held a meeting with the Ministry of Public Security, the Supreme Court, the Supreme Procuratorate, and 10 other core departments, specifically targeting virtual currency trading speculation! The scale of this meeting is unprecedented in history, and the signal could not be clearer: the regulatory iron fist is getting serious!
Why is this meeting different?
The participating departments have expanded from traditional financial regulatory agencies to include public security, judiciary, and other powerful departments. This indicates that the crackdown is no longer limited to the financial sector but has escalated to a multi-dimensional level, including criminal investigation.
The meeting clearly stated for the first time that stablecoins are a type of virtual currency and pointed out the associated risks.
The crackdown will focus on the flow of information and funds: this means that even promotional activities will face stricter monitoring and cleaning.
What impact does this have on ordinary retail investors?
Although ordinary holders do not currently constitute a crime, their space for survival will be sharply compressed.
Depositing and withdrawing funds will be more difficult, and obtaining information will become harder, while also needing to strengthen.
To be honest, the determination and strength shown in this meeting make me feel that the era of cryptocurrency in the domestic market is coming to an end. This is not just a short-term negative outlook, but the beginning of long-term high-pressure regulation.
Do not fantasize about compliance: the possibility of opening the door to virtual currency domestically in the short term is zero! In such an environment, risk control is a hundred times more important than pursuing returns.
In summary: the road ahead will be more difficult, requiring more caution and professionalism to face a market environment that is completely different from the past!