$WLFI The meeting specifically pointed out the risks of stablecoins. The meeting clearly stated, "Stablecoins are a form of virtual currency that currently cannot effectively meet the requirements for customer identification, anti-money laundering, and other aspects, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers." Why is there such special attention on stablecoins? Because they appear to be more stable than traditional cryptocurrencies like Bitcoin, often claiming to be backed by real assets, this 'stability' can make investors let down their guard. The meeting clearly stated that overseas virtual currency exchanges providing services to residents within our country via the internet are also considered illegal financial activities. Those involved in overseas virtual currency exchanges within the country, as well as legal and natural persons who knowingly or should have known that they were engaging in virtual currency-related businesses while still providing marketing, payment settlement, technical support, and other services, will be held legally accountable. This policy spirit actually originates from the notice jointly issued by the People's Bank of China and ten other departments in 2021 on "Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation." Over the years, our country's regulatory policies on virtual currencies have maintained continuity and stability.