To be honest, last night the backend exploded with 800 messages all asking the same thing: Is that meeting led by the central bank with 13 departments going to put an end to personal cryptocurrency trading? Let's get to the conclusion: For those who only trade without doing projects, your core task is just three words: Protect your bank card! Protect your bank card! Protect your bank card!
I have been in the industry for five years and have seen too many people fall because they thought 'nothing was wrong'. This time, I need to make it clear to you all. Why has regulation suddenly tightened again? It's simple, the 'monsters' in the market have resurfaced. Under the banner of new concepts like stablecoins and RWA, they are packaging air as 'compliant projects'. To put it bluntly, it's just changing the soup without changing the medicine to fleece investors. These things not only leave many elderly people with nothing but also secretly transfer money overseas. How can the financial order not be chaotic? This is the real reason for the regulatory crackdown.
Many veteran players compare this meeting to the one on September 24, 2021, asking if it is a new policy. I can responsibly say that the general direction has not deviated; it still reiterates the previous rules, but this time it has singled out 'stablecoins' for special criticism. Don't be fooled by the word 'stable'; it is essentially a virtual asset, not a legal currency. Want to rely on it for hedging? That's just digging a pit for yourself.
The impact on institutions remains the same: the red lines are drawn firmly, and banks and payment institutions dare not get involved; they are treated as violations without any room for negotiation. The ones really in trouble are not the institutions, but us individuals. It's not that we are not allowed to trade, but the pitfalls in deposits and withdrawals have increased. The monitoring system is ten times stricter than before; as long as there is even a hint of dirty money in your funds, your bank card will be frozen immediately, and it will be difficult to explain later. Last week, I had a fan who used his salary card to buy something, but the other party's account had issues, and his card was frozen for half a month, almost causing him to miss a mortgage payment. Isn't this lesson painful enough?
What is most worth contemplating about this meeting is the addition of three 'new faces': the China Securities Regulatory Commission, the National Development and Reform Commission, and the Ministry of Justice. This is not just a simple increase in personnel; it's a signal upgrade! Previously, financial departments operated independently, but now that the China Securities Regulatory Commission is involved, it means that coordination is starting from the top level of the state, and the importance attached to this is directly maximized. The inclusion of the National Development and Reform Commission means that in the future, no matter what project it is, as long as it hides any tricks involving virtual assets, it will be blocked during the approval process. The involvement of the Ministry of Justice is even more critical; many issues previously lacked legal basis, but now legal loopholes will be filled. If anyone tries to engage in crooked practices in the future, they can expect to face lawsuits.
To speak candidly, the tightening of regulations is not to drive everyone to extinction, but out of fear that people will get scammed and that financial troubles will arise. If individuals want to continue trading, they should keep a close eye on their own wallets, avoid unfamiliar platforms, and refrain from frequently depositing or withdrawing large amounts with bank cards.
