Regarding the new regulatory policies in the cryptocurrency circle, here are a few words from my heart.

Recently, eight departments jointly issued document Yinfa [2026] No. 42, making a concentrated statement on the industry's direction. After that, I整理ed my own judgments about the crypto world, a few points, and they are honest.

First, this industry definitely will not disappear. The joint issuance of the document by eight departments reaffirms that virtual currencies do not have the same legal status as fiat money, domestic virtual currency-related activities are illegal financial activities, and overseas entities and individuals are not allowed to illegally provide virtual currency-related services to domestic entities in any form. The barriers are higher, and regulation is stricter, but that does not mean this industry will vanish domestically.

BTC is still here, on-chain assets are still here, and real needs like RWA tokenization and cross-border settlement are also ongoing. As long as these exist, the industry cannot completely disappear. Internationally, Hong Kong has already granted licenses to the first batch of stablecoin issuers on April 10. Major global economies are all moving toward “regulatory inclusion,” and China is exploring制度 through Hong Kong. Hong Kong completed a cross-border RWA settlement test with digital RMB and stablecoins in February this year, reducing transaction time from 2 hours to 3 minutes. So, the industry is reshuffling, but not退出.

However, if you think you can get rich overnight by relying on this circle, haha, that’s difficult. The opportunities have already become clearly fewer. The early dividend phase, where closing your eyes and increasing positions or doubling everything, is basically over. Now, there are more structural opportunities. In the big waves of淘沙, if participants still use faith-based充值 or full holdings of copycat projects to fight, the risk-reward ratio is not ideal.

The regulatory environment is in front of us. Companies’ registered names and business scopes cannot include words like “virtual currency,” “cryptocurrency,” “stablecoin,” “RWA,” etc. Financial institutions are not allowed to provide any services related to virtual currencies. China maintains a prohibition policy on virtual currencies. Any unit or individual investing in virtual currencies, the related civil legal acts are invalid, and any losses incurred are to be borne by themselves.

Therefore, under this overall background, the overall expectations must be lowered.

The crypto circle remains important, but should no longer be overly idolized. Under the current circumstances of tightening policies, market differentiation, and judicial regulation, maintaining rationality,守住底线, and making decisions that you can afford to lose are more important than anything else. #WCTC交易王PK