Recently, the crackdown on the cryptocurrency sector in the country has clearly intensified. Activities related to virtual currencies have been explicitly defined as illegal financial activities, and stablecoins have also been classified as virtual currencies, posing risks such as money laundering and fundraising fraud. Multiple departments have joined forces to strengthen regulation, combat speculation in cryptocurrency trading, protect the property safety of the people, and maintain the stability of the economic and financial order.
Regarding the debt reduction by local governments, some local governments have adopted methods such as leveraging state-owned enterprises and going public to securitize assets in order to complete debt reduction tasks. This approach is seen as transferring risks through the capital market, allowing market participants to jointly bear the debt reduction burden.
For example:
Wuhan has issued 3 measures: state-owned enterprises leveraging, state-owned enterprises going public on the A-shares, and state-owned enterprise resources entering finance.
The main reason for this is that only by listing assets that cannot generate profits can the debt reduction tasks be completed.
The path to completion is also quite simple; after going public, the iron heads in the cryptocurrency sector will pay the bill together,
just like Trump pulling the cryptocurrency sector down into the water.
One is to support the cryptocurrency sector and let the cryptocurrency sector pay the bill,
while the other is to crack down on the cryptocurrency sector and let the cryptocurrency sector pay the bill.
Congratulations to all the iron heads in the cryptocurrency sector for successfully stepping on a landmine! $SOL
