The country has made it clear: virtual currencies do not have monetary attributes and are prohibited from being used as a means of circulation domestically.
Do not think that domestic regulations will be lifted; it is impossible in the short term.
Because once they are relaxed, it opens the door for capital outflow.
So this is to tell everyone: "Don't hold any illusions."
"Virtual currency-related businesses are all illegal financial activities."
This means:
Doing these things domestically:
Development, operation, maintenance, community, activities, meetings...
All fall under "illegal".
But the reality is:
As long as you are not high-profile, not deceiving, and not engaging in large-scale capital flows, they generally will not specially create trouble for you.
This is the principle of "the people do not raise complaints, the officials do not investigate".
"Stablecoin risk is the highest"—this is the core,
Why?
Because stablecoins bypass foreign exchange controls, equivalent to:
Quietly building a "small dollar system that is not regulated" domestically.
This is the most sensitive issue for the country, so the checks are the strictest.
To summarize whether the impact is significant or not:
The reason the impact is not significant:
Everything that can be regulated has already been regulated.
People in the industry are all overseas.
The market has long given up hope on mainland policies.
Capital and trading are mainly abroad.
This time is a statement of attitude, not a devastating blow.
But here are the points you need to pay attention to:
Do not publicly promote cryptocurrency domestically.
Do not flaunt wealth.
Do not lead the rhythm.
Do not participate in gray OTC or profit-sharing.
Do not engage in large-scale cross-border capital flows.
Content from self-media should not touch the red line.
Low-key is the best safety.
The last sentence summarizes:
This policy will not crash the market, nor will it change the bull and bear cycles, but it continues to emphasize one thing:
"Prohibited domestically, active abroad" will be a long-term state.
If you can play, you can play,
But—
Be low-key, pay attention to boundaries, do not touch gray areas,
This is the correct posture.