Interpretation:
1. The impact on mainstream coins is definitely not significant; even if there is a pullback, it will not be because of this reason, but because a pullback was already due;
2. The main targets for crackdown will definitely be scams and Ponzi schemes based on digital currencies. Since the ban on high-seas fishing last year, Ponzi schemes in various places have actually become extremely arrogant, and due to issues of evidence and jurisdiction, there is already a somewhat unmanaged flavor to it. This will definitely be the main target for crackdown;
3. Exchanges' new user acquisition behaviors through platforms like Douyin and Xiaohongshu will face further risk control, curbing the momentum of the public speculating on coins in the context of an economic downturn;
4. Bank accounts involving digital currencies will face further risk control, and instances of card freezing will increase;
5. Domestic exploration of stablecoins and RWA will continue to stagnate, but it also means more resources will be allocated to Hong Kong. Additionally, with the information about Hainan's upcoming closure, Hainan may also become a new exploration site for digital currencies;
6. Industry talent may further go abroad, and the previous trend of many project parties and institutions returning to the domestic market may start to reverse, with many people possibly leaving again.
1. The impact on mainstream coins is definitely not significant; even if there is a pullback, it will not be because of this reason, but because a pullback was already due;
2. The main targets for crackdown will definitely be scams and Ponzi schemes based on digital currencies. Since the ban on high-seas fishing last year, Ponzi schemes in various places have actually become extremely arrogant, and due to issues of evidence and jurisdiction, there is already a somewhat unmanaged flavor to it. This will definitely be the main target for crackdown;
3. Exchanges' new user acquisition behaviors through platforms like Douyin and Xiaohongshu will face further risk control, curbing the momentum of the public speculating on coins in the context of an economic downturn;
4. Bank accounts involving digital currencies will face further risk control, and instances of card freezing will increase;
5. Domestic exploration of stablecoins and RWA will continue to stagnate, but it also means more resources will be allocated to Hong Kong. Additionally, with the information about Hainan's upcoming closure, Hainan may also become a new exploration site for digital currencies;
6. Industry talent may further go abroad, and the previous trend of many project parties and institutions returning to the domestic market may start to reverse, with many people possibly leaving again.
