Recently, the domestic government has tightened regulations on the cryptocurrency sector again. To be honest, it’s not surprising,

but when it comes to fruition, it still sends chills down my spine.

Let me share a deeper background with everyone:

The "debt reduction pressure" faced by various local governments has reached a very aggressive stage.

For example—

Wuhan recently clarified three paths:

State-owned enterprises leveraging,

State-owned enterprises promoting A-share listings,

State-owned enterprises fully financializing resources.

Why do this?

There is only one core logic:

A large amount of assets that do not generate cash flow can only transfer risk through the capital market.

As long as it can be listed,

debts can be packaged, dispersed, and taken over by the market,

the task can be considered accomplished.

This method is essentially the same logic as some countries bringing the cryptocurrency market to the table:

One way is to support you to enter the market and make you pay;

The other is to tighten the rules and force you to pay.

Different directions, the same result.

So don't naively think that the market is just experiencing "normal fluctuations",

many times, you are just arranged on the settlement side.

I can only say:

Brothers in the cryptocurrency circle have once again been educated by the times.