Regulations on Foreign Investment by the State Council

I read through it, and it mostly serves as a protection for traditional investments. I think it's still due to recent events like the Anshi Semiconductor incident and policy adjustments in Indonesia and other countries regarding nickel and other minerals for China, aimed at protecting domestic investments and industrial development. Relying solely on the crypto industry to justify it is a bit of a stretch, but the leading department is the Commerce Bureau, which still leans more towards traditional investments.