Don't panic! This time no new policies have been issued, just a reiteration of the 2021 924 policy and the 2017 94 policy.

First, let's talk about lawyer $BTC $UNI $AR 's conclusion: personal cryptocurrency trading is not illegal, and using bank cards for deposits and withdrawals is a violation but not illegal.

In 2017, cryptocurrency was named virtual currency and classified as virtual goods. Virtual currency is not legal tender because the only legal currency in our country is the Renminbi; virtual goods only have the attributes of goods and not currency attributes.

The 2021 924 policy cut all business in the web3 industry uniformly, prohibiting foreign cryptocurrency companies from operating for domestic users, and prohibiting domestic institutions and individuals from serving or working for foreign cryptocurrency companies. At the same time, it prohibits banks and other financial institutions from providing payment settlement services for virtual currency transactions.

In conclusion, currently, personal cryptocurrency holding and trading is not illegal, but it is prohibited to use bank cards for transferring funds (cash is allowed), otherwise it is a violation but not illegal. A violation is against the regulations of the central bank, but the central bank is neither a legislative body nor a law enforcement agency. Even if there is a violation, the central bank can only suspend your bank card, and the suspension targets the card number rather than the individual; you can cancel and reapply for a card without being affected. According to the bank's anti-money laundering department, "I cannot give you this advice (to cancel and reapply for a card), but if you choose to do so, we cannot stop you."

Additionally, all those convicted related to deposits and withdrawals fall under three reasons: first is money laundering, second is illegal currency exchange, and third is aiding crimes (with knowledge, handling funds related to organized crime or fraud).

Finally, I want to emphasize again, personal cryptocurrency trading is not illegal, and using bank cards for deposits and withdrawals is a violation but not illegal.