With regard to the article "Coordination Mechanism Meeting on Combating Virtual Currency Speculation" released by the People's Bank of China on the official account today, a thousand waves were aroused by one stone, which triggered extensive discussion in various communities and Twitter in the currency circle. Everyone is asking: Who are we going to hit? Who is the target of the attack? First of all, the answer is: people like Qian Zhimin are the key targets of the crackdown. What needs to be severely cracked down on is the series of illegal and criminal activities carried out by these people using virtual currencies, with the aim of protecting the property safety of the general public and maintaining economic and financial stability. After reading this article this afternoon, I quickly asked a friend who works in the Ministry of Public Security. Because around early June, during a dinner party, he mentioned to me that his team was negotiating with the UK to recover a huge asset, which he claimed was an illegal fundraising and money laundering case from a few years ago. He said someone cheated a large amount of money in China, bought it in Bitcoin and ran it to the UK. Now Bitcoin has risen to $100000, which is many times the amount of non collection at that time. Due to the confidential nature of their work, he did not mention the name of the Chinese person, only stating that she was a woman. Not long after, around July 20th, an article titled 'The UK Home Office plans to sell approximately $7 billion in seized cryptocurrency assets to fill the fiscal gap' circulated online. Meanwhile, another article provides a detailed account of the situation: the 61000 bitcoins (now worth approximately £ 5 billion) seized by the British police originated from an illegal fundraising case by Tianjin Blue Sky Gree Company in China. The company, under the guise of "smart elderly care" and virtual currency, defrauded 126000 Chinese investors of approximately 43 billion yuan, with some funds being used to purchase Bitcoin and transferred to the UK. After the main culprit Qian Zhimin (pseudonym Zhang Yadi) fled to the UK, his assistant Wen Jian was sentenced for assisting in money laundering, but his Bitcoin assets were seized by the UK police. I will verify with my friend immediately, is this Qian Zhimin the one they followed up on? He replied, 'Exactly.'. Today I sent the People's Bank of China's official account article and asked him for his opinion. He didn't say much, just shared with me a ten thousand word article published by China Newsweek on the 27th, titled 'Can the 40 billion bitcoins taken away by Qian Zhimin be returned to China?' As expected, my guess has been validated. On the 28th, 13 departments, including the Ministry of Public Security, the Cyberspace Administration of China, the Central Financial Office, the Supreme People's Court, the Supreme People's Procuratorate, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Justice, the People's Bank of China, the State Administration for Market Regulation, the State Administration for Financial Regulation, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, held a meeting on the coordination mechanism for cracking down on cryptocurrency speculation. The purpose of the meeting was to crack down on fraudsters who use the flags of Bitcoin, stablecoins, and RWA to fabricate various investment lies and carry out fraudulent activities. Or they may fabricate various investment lies and then convert the defrauded RMB into cryptocurrency through exchanges, wash it out, and run abroad to enjoy themselves. Qian Zhimin bought Bitcoin through Huobi with the stolen money obtained from illegal fund-raising. Qian Zhimin turned the money he swindled into Bitcoin and went abroad to indulge in extravagance, leaving behind over 100000 victims in China. Their families were destroyed and their families and children were separated. Relevant departments in China have been helping victims track down fraudsters for so many years. Do you think such fraudsters should be cracked down on? 100% to be hit. Two typical cases that surfaced this year, one involving Qian Zhimin and the other involving Chen Zhi, were both scams of Chinese money that turned into Bitcoin and were confiscated by British and American police. Isn't this a typical case of robbing the rich to help the poor? Originally, Chinese people did not have the comfortable living conditions of ordinary people in Europe and America. They worked like oxen and horses every day and lived frugally. I originally wanted to invest and earn some extra money, but ended up encountering scammers who took the money away, laundered it abroad, and had it confiscated by Americans and British to subsidize my own people. Who can bear it if it's someone else? just as As stated in the article "Can the 40 billion bitcoins taken away by Qian Zhimin be returned to China?": Our internal ban is to prevent financial risks, and our external search is to uphold judicial justice. These two are not contradictory, just like closing the door to clean, it does not mean that things thrown at the door can be picked up by others. https://mp.weixin. (qq.com)/s/fhJQjW-uX39dwZNcT8RrAQ