At 7 PM today, the "China Internet Association" based in Shanghai issued another risk warning to prevent illegal activities related to virtual currencies.

I myself work at a state-owned enterprise in a certain district of Shanghai, and I often interact with friends from the Bank of China and the State-owned Assets Supervision and Administration Commission. Previously, there were signs of loosening regulations around virtual currencies in Shanghai this year, and there were even plans to set up a department within an organization to temporarily "pilot" this. However, the prevalence of illegal fundraising, pyramid schemes, and fraud has sounded the alarm again, and in cooperation with the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission, a series of "Notices" and "Announcements" have been issued to continue prevention and crackdowns.

Currently, this is still an early stage, and of course, it also serves as a warning to retail investors. There is no impact on normal retail investors!!