The reason for the rectification by the ministries should be related to the increase in people engaging in Cryptocurrency Trading and rebate promotions on social media platforms.

The day before yesterday, I happened to read an article from the New First-Line Finance, and after reading it, I felt quite bad.

Portal:

The downside is not that the articles are poorly written, but rather that as a heavy user of Xiaohongshu, I can feel that there has been an influx of information from the cryptocurrency space recently, especially from those with impure intentions looking to cut leeks and promoting high-leverage contracts for wealth. Some of what is stated is indeed true.

With the decline of the market in the past month, the number of people losing money has significantly increased. As more people gather, it is easier to form group events, and the likelihood of being noticed by the national stability maintenance department also increases, raising the risk of being hammered.

Although the industry has developed to the point where we no longer have to worry about being crushed by an iron fist, it is still quite painful to go through the hassles of downloading on a CEX, deposits and withdrawals, and KYC.

I hope everyone can still develop in a low-key and subtle manner. Especially recently, please don't flaunt wealth and don't get yourself into trouble.