Analysis: China's crypto regulatory lineup has added the Ministry of Justice, the Central Financial Office, and the State Administration of Finance compared to 2021 According to Zhongke Chain Security analysis, the People's Bank of China, together with 13 departments including the Ministry of Public Security and the Cyberspace Administration of China, held a coordination meeting on November 28 to crack down on virtual currency trading speculation. The lineup of this conference is eye-catching, with the addition of the Central Financial Office, the State Administration for Financial Regulation, and the Ministry of Justice compared to the ten ministries and commissions mentioned in the 2021 "924 Notice". This marks the comprehensive upgrade of China's regulation of virtual currencies from domain coordination to system governance. Analysis suggests that this change will reshape the regulatory landscape on three levels: Upgrading the overall planning framework: The intervention of the Central Financial Office will promote regulatory coordination from departmental linkage to higher-level cross disciplinary coordination, forming a synergy of policies and resources. Deepening regulatory framework: The addition of the State Administration for Financial Regulation means that regulation will shift from basic monitoring of capital flows to precise identification and professional investigation of illegal financial activities. The improvement of the legal framework: The addition of the Ministry of Justice will promote the upgrading of supervision from being dominated by administrative documents to having stronger legal support for the connection between legal application and execution, and strengthen the authority of law enforcement. In addition, the meeting clearly identified "stablecoins" as the core target of this round of crackdown, and emphasized the focus on "information flow and capital flow", building a technology driven full chain monitoring system, demonstrating the determination and means of the regulatory authorities to comprehensively upgrade their crackdown on virtual currency related crimes.