Friends who still hold crypto assets in their hands, this time the wind has changed.
A recent cross-departmental meeting made it very clear: virtual currency-related businesses are illegal across the board. More importantly, those stablecoins that are used as "safety cushions" are also officially classified as virtual currencies. Gray area? It doesn't exist anymore.
This movement is not small. Thirteen functional departments sat together, and every link was stuck, from fund monitoring, network communication to judicial accountability. In the past, it may have turned a blind eye, but now it is whoever touches and has an accident - opening an exchange, acting as an agent, and trading privately, all stepping on the edge of the law.
Stablecoins are named this time, which is of extraordinary significance. Many people think that USDT is a "safe asset" even if it is pegged to the US dollar, but in fact it has long become a transfer station for underground funds. Fraud gangs cheat money and exchange it for stablecoins to transfer overseas, and the traditional financial system cannot catch up at all. Now the regulator has said directly: it does not meet anti-money laundering standards. In the future, the probability of large transfers of stablecoins and being marked by big data will skyrocket, and the risk of money laundering charges will also follow.
The market has voted with its feet. As soon as the policy news came out, BTC dived directly, breaking $87,000 at the beginning of December, and more than 190,000 people liquidated their positions within 24 hours, evaporating nearly 4 billion yuan. And this is not the first shot - as early as 2021, the ten departments said that virtual currency transactions were illegal, but this time it was just tightening the mouth.
Now the regulatory tools have been upgraded. Blockchain traceability, big data tracking, every transaction may be targeted. It's time to wake up to the stories of "getting rich overnight" in the currency circle, and all that remains is the legal thunderstorm.
Do you still have coins in your hand? How to prepare for it?
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Ser_This_Is_A_Casino
· 7h ago
It should have been managed earlier; this market won't last much longer, and I didn't pour money into it.
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Holdings must be sold off, or they'll be marked sooner or later.
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Waiting to see who still dares to place orders on the exchange.
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USDT is now a hot potato. Do you really dare to transfer it?
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Crypto friends, reflect carefully. If it's time to exit, just do it.
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It's really heartbreaking for the 190,000 people who got liquidated; it hurts to watch.
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This time, there's no joking around. It's not just a feint like before.
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After the stablecoin is nailed down, how can one cash out? Just thinking about it is troublesome.
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If I had known earlier, I wouldn't have touched it. Now it's too late to regret.
View OriginalReply0
RektButSmiling
· 13h ago
Damn, here we go again? This time there's really no room for negotiation, the gray area is completely gone.
It was about time to tighten up, watching those stablecoins laundering money, it's been so annoying.
190,000 liquidations, the bankruptcy meeting is starting again? The crypto world is really... it's time to wake up.
Using USDT as a treasury? That's hilarious, it's just a ticking time bomb now.
Friends holding coins, you really should think about your backup plan, guys.
This isn't scare tactics, over a dozen departments are working together, no one can hide.
Legal thunder and lightning, tsk, just hearing it is exciting...
For those still holding coins, get mentally prepared, the trend has indeed changed.
View OriginalReply0
DaoTherapy
· 12-10 03:18
It's here again, I said this day would come, but now I'm panicking.
Everyone who holds the coin should wake up, not falling, but the iron gate knife of policy.
USDT as a safety cushion? Laughing to death, I have long been targeted, who is still playing with fire.
This time the 13 departments went together, not a joke, but really wanted to be serious.
Can't escape, every transaction is tracked, and the good days of the currency circle are over.
Look at the 190,000 liquidations, this is the reality, don't dream.
It should have been said that gray space was originally an illusion, and now it is a little late to react.
View OriginalReply0
DAOdreamer
· 12-10 03:04
The one holding the coin is still sleepwalking, this time there is really no way out
It's long overdue to come to this show, whoever touches the gray area will be finished
USDT Safe Asset? Laugh to death, it's just a money laundering hotline
The liquidation of 190,000 people has just begun, and the follow-up is even more desperate
Not everyone can escape big data, to put it bluntly, it depends on the regulatory mood
I don't understand what those people in the currency circle think, and they still want to turn the tables against the wind
Brothers, it's time to wake up, there is no fluke in the face of the legal storm
After this wave, the ecology of the currency circle is going to be reconstructed... But I really doubt that there will be another wave in the future
View OriginalReply0
FudVaccinator
· 12-10 03:04
The brothers holding the coins are really trapped to death now, and this wave of rectification has not even let go of USDT, it is too ruthless...
It has long been said that the gray game cannot be played, and now the 13 departments are trying to fix it to the death, and they can't run.
USDT is really a trick, I used to be able to say that I was safe, but now I directly characterize it as illegal, and large transfers are marked in minutes, I am really a little cowardly.
190,000 people liquidated and evaporated 4 billion, which is a panic...
It's time to recognize the reality, the dream of getting rich in the currency circle should wake up, and the question now is not whether to make money, but whether to go in.
View OriginalReply0
QuorumVoter
· 12-10 03:03
Damn, I really can't play this time, it should have been completely banned a long time ago
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Stablecoins are also blocked? Isn't this the bottom of the pot?
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I said it shouldn't be all in, but now it's okay, 190,000 people are buried with it
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USDT has been used as a money laundering tool for so long, and it has finally been turned out, who is to blame?
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13 departments join forces? This formation is really amazing, no matter how much you hide, you can't hide it
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My friends are still saying that USDT is safe, I really can't laugh...
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Wait, will the transfer of stablecoins be marked in the future? Then play with yarn
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In 2021, it was said that it was illegal, and there are still people who are not dreaming in the past three years
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There is nothing wrong with the legal storm and thunder, and the currency circle should be sober
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The story of getting rich overnight is over, and now the court story begins
View OriginalReply0
FadCatcher
· 12-10 03:02
Damn, it's really going to be completely banned... It should have been like this a long time ago, too many people have ruined their families because of this thing
Seriously, what does the fact that stablecoins are named means, that is, the regulator has finally seen through it, and this thing is a tool for transferring stolen money
Those buddies who are still tossing should really wake up, unless you are really not afraid to go in and drink tea
I think after this wave, a large number of people and projects will die in the currency circle, and it is time to come
Friends who still hold crypto assets in their hands, this time the wind has changed.
A recent cross-departmental meeting made it very clear: virtual currency-related businesses are illegal across the board. More importantly, those stablecoins that are used as "safety cushions" are also officially classified as virtual currencies. Gray area? It doesn't exist anymore.
This movement is not small. Thirteen functional departments sat together, and every link was stuck, from fund monitoring, network communication to judicial accountability. In the past, it may have turned a blind eye, but now it is whoever touches and has an accident - opening an exchange, acting as an agent, and trading privately, all stepping on the edge of the law.
Stablecoins are named this time, which is of extraordinary significance. Many people think that USDT is a "safe asset" even if it is pegged to the US dollar, but in fact it has long become a transfer station for underground funds. Fraud gangs cheat money and exchange it for stablecoins to transfer overseas, and the traditional financial system cannot catch up at all. Now the regulator has said directly: it does not meet anti-money laundering standards. In the future, the probability of large transfers of stablecoins and being marked by big data will skyrocket, and the risk of money laundering charges will also follow.
The market has voted with its feet. As soon as the policy news came out, BTC dived directly, breaking $87,000 at the beginning of December, and more than 190,000 people liquidated their positions within 24 hours, evaporating nearly 4 billion yuan. And this is not the first shot - as early as 2021, the ten departments said that virtual currency transactions were illegal, but this time it was just tightening the mouth.
Now the regulatory tools have been upgraded. Blockchain traceability, big data tracking, every transaction may be targeted. It's time to wake up to the stories of "getting rich overnight" in the currency circle, and all that remains is the legal thunderstorm.
Do you still have coins in your hand? How to prepare for it?