Any units and individuals investing in virtual currencies, real-world asset tokens, and related financial products do so at their own risk. A few days ago, the People's Bank of China, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the Financial Regulatory Authority, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and eight other departments jointly issued the "Notice on Further Preventing and Disposing of Risks Related to Virtual Currencies and Other Matters." I have summarized four key points for everyone: Definition, Ban, Responsibility, and Rectification.

1️⃣. Definition: Virtual currencies are illegal financial activities
• Legal status: Virtual currencies (such as Bitcoin, Ethereum) do not have legal tender status and cannot be used as currency for circulation.
• Business nature: Conducting virtual currency exchange, trading, issuance, and related activities within the country are all illegal financial activities, strictly prohibited and to be eradicated.

2️⃣. Ban: Completely cut off the service chain
• Financial institutions: Must not provide account opening, fund transfer, clearing, and settlement services, nor issue related financial products.
• Internet companies: Must not provide online business venues, marketing, paid traffic, and other services.
• Overseas services: Overseas entities must not illegally provide virtual currency services within the country.

3️⃣. Responsibility: Investment losses are at your own risk
• Risk assumption: Any units and individuals investing in virtual currencies and related products do so at their own risk.
• Legal consequences: Relevant civil legal actions may be invalid, and suspected disruption of financial order will be prosecuted according to law.

4️⃣. Rectification: Crack down on mining and tokenization
• Mining activities: New virtual currency "mining" projects are strictly prohibited, and the sale of "mining machines" is forbidden.
• Tokenization: Without approval, real-world asset tokenization activities are not allowed.

Based on the above notice, opening up cryptocurrency services domestically still seems very far off. Most people’s understanding of cryptocurrencies is still associated with scams, gray industries, and gambling. Therefore, whether making money or losing money in the crypto space, don’t draw too much attention. It’s easy to attract jealousy, and if someone reports you for not being liked, it could cause trouble—at best, a lot of hassle, and at worst, imprisonment.