Years of strict crackdowns, what's different this time? Aside from focusing on stablecoins and RWA (kind of funny how they were heavily promoted domestically before, and now it's a complete reversal), there’s not much new. The early bird knows the spring water’s warmth—top-tier CEXs have the best lawyers and GR teams. If enforcement ramps up, just watch them. From light to heavy measures: blocking domestic IPs from logging in, banning domestic KYC registrations, stopping CNY C2C transactions, and clearing out domestic users. It’s just these four levels. If they really want to go hard, anything is possible. After all, with the domestic economy declining and so many scammers around, not a single legitimate stablecoin or RWA has been developed, but there are already thousands of scams...