Last weekend, Lao Chen, a post-90s programmer in Hangzhou, did something—he deleted all three exchange apps from his phone.

It wasn't because he lost money. The few bitcoins he owns had already multiplied more than tenfold. What truly prompted him was helping his parents set up a digital RMB wallet and, in the process, attending a community anti-fraud seminar. When he got home and dug out the "Virtual Currency Risk Notice," he suddenly understood: "Regulation isn't about stifling technology; it's about preventing ordinary people from falling into an abyss without guardrails."

Thirteen departments have joined forces, and outsiders like to oversimplify it as a "one-size-fits-all" approach. In reality, they're drawing a red-line list: OTC private currency exchanges, investing on behalf of others in so-called financial products, leading people to play with contract copy trading—these are all illegal operations. The goal is clear: cut off underground channels for money laundering, fraud, and tax evasion.

Bitcoin itself hasn't changed, but its positioning has. Domestically, it is considered a non-sovereign digital asset, and its status as currency is not recognized by law—you can hold it, but you can't use it for circulation or trading. Stablecoins like USDT are even more sensitive; domestic trading is directly in violation, though compliant cross-border asset allocation channels are gradually being piloted.

The real opportunities have long since shifted to a different track. Digital RMB users have surpassed 280 million, blockchain technology is being applied in manufacturing and agricultural projects, and several cities have started offering Web3 talent subsidies. Now, success isn't about luck in coin speculation, but about professional skills, industry certification, and the ability to follow the rules.

Stop worrying about questions like "Can I still buy Bitcoin?" Pass this on to friends still dreaming of getting rich overnight: true financial freedom comes from understanding where the rules and boundaries are, and then positioning yourself where the country needs you most.