Yesterday, the central bank led a major meeting specifically targeting 'virtual currency trading and speculation.' The main points are threefold: First, the definition hasn’t changed. Bitcoin and Ethereum are absolutely not considered money in the country. You can’t use them as currency, and anyone who dares to circulate them is breaking the law. Second, the business red line: any activity involving virtual currency exchanges or transaction matchmaking is classified as 'illegal financial activity,' and people involved will be arrested. Third, the new focus: this time, they’ve explicitly targeted 'stablecoins' (like USDT), clearly stating that these are accomplices to money laundering, fraud, and illegal capital outflows. They claim it’s impossible to regulate, so it must be strictly cracked down on. Pay attention to a term mentioned in the news: 'coordination mechanism.' This shows it’s not just the central bank’s issue anymore—it’s a joint effort involving law enforcement, the judiciary, and the Cyberspace Administration. In the past, people thought crypto trading was a personal freedom. Now, the authorities are telling you it’s 'illegal financial activity.' The harshest part here is the redefinition of 'stablecoins': they were previously seen by many as tools to bypass foreign exchange controls, but now the authorities are directly equating them with 'illegal cross-border capital transfers.' What does this mean? It means that from now on, buying and selling USDT is no longer just a simple investment activity—it could very well be considered 'disguised foreign exchange trading' or even make you an accomplice to 'money laundering.' For those still doing OTC (over-the-counter) trades or the so-called 'crypto big shots,' the risk level has skyrocketed. Before, you might just have your bank account frozen. Now, there’s a high chance you’ll be charged with 'assisting in criminal activities' or 'illegal business operations,' which could land you in jail. As for regular retail crypto traders, take note: the government has made it clear that virtual currencies have 'no legal tender status.' This means if you get scammed on a platform, the exchange runs off with your money, or USDT collapses, the law won’t protect you. Reporting it to the police won’t help—your money is as good as gone. What do you all think about this?