On September 24, the People's Bank of China issued a "Notice" on its official website to further regulate and supervise activities involving virtual currency transactions.

The regulatory measures introduced this time are stricter and firmer than all previous regulatory measures. What impressed me the most are the following:

1. Clarified that business activities related to virtual currency are illegal financial activities, and listed related activities by name.

Among the activities mentioned, there are two businesses that are closely related to ordinary people: one is the exchange business between legal tender and virtual currency, and the other is the exchange activity between virtual currencies. The former has been mentioned in previous statements, and many investors have made it clear, while the latter is mentioned this time, and there was no clear statement in the past. Following the latter formulation, any exchange between virtual currencies is now also clearly defined as an illegal activity. For example, user transactions on Uniswap and Curve are also illegal activities.

The above-mentioned transactions are spot transactions of virtual currencies, while derivative transactions and leveraged transactions related to this are even more illegal financial activities.

Another highly active field "mining" is undoubtedly a key area of ​​focus. Any activities involving "mining" are strictly prohibited by the state. That is to say, the current popular Bitcoin, Ethereum, Filecoin and other mining activities are all activities prohibited by the state. It is even more expressly prohibited for some companies to use the name of "data center" to mine.

2. Clearly stated that the management of Internet information content and access should be strengthened.

The media-related part of the activities mentioned is described as follows: "Internet companies are not allowed to provide online business premises, commercial exhibitions, marketing promotions, paid diversions, and other services for virtual currency-related business activities. Relevant departments will report and provide technical support and assistance for related investigations and investigations.”

In layman's terms, this passage means that on Internet-related applications (such as WeChat and Weibo), all information related to virtual currency transactions is prohibited, and the dissemination and exchange of such information is also prohibited, regardless of Free or paid. This means that not only information such as pyramid schemes and project promotions are prohibited, but information about investment is also prohibited.

The reason why I focus on listing these two types of activities is because these two types of activities are the most basic and bottom-level activities among all virtual currency-related activities. The prohibition of these two types of activities means that from now on in our country, all activities related to virtual currency will be prohibited, and consultations involving virtual currency trading, mining, and investment will also be prohibited. Furthermore, the ultimate goal of the country is to make it impossible for ordinary people to obtain virtual currency at all, not to know about virtual currency transactions, and to have no channels to obtain information related to virtual currency transactions.

So next, in our country, it is almost difficult for newcomers who participate in large-scale virtual currency investment to enter this field, and the influence of our country's funds on this market is almost negligible.

Two days ago, Jiang Zhuoer published such a piece of information: From January 20 to the present, according to statistics, virtual currency has risen by 87% during U.S. trading hours, 294% during European trading hours, and 294% during Chinese trading hours. It fell 14%.

This data also shows the influence of virtual currency, European and American capital has gained the dominance, and Chinese capital has no influence.

It is not only almost impossible for ordinary people in China to intervene in this field, but it has also been classified as illegal by the state.