Core Viewpoint - The article discusses the recent collapse of a cryptocurrency trading platform named "Yuzhi Financial," highlighting the risks associated with virtual currency investments and the illegal activities that have emerged in this sector [3][19]. Group 1: Company Overview - Yuzhi Financial was established on September 3, 2024, claiming to operate in Hong Kong and was listed on the Hong Kong Equity Trading Display Center with stock code HK31919 [4]. - The platform falsely claimed to have developed a 6G Hongmeng system in collaboration with Huawei, asserting a 99.99% reliability in its trading signals [4]. - Yuzhi Financial utilized the HSEX app for trading, charging a 10% withdrawal fee, which was increased to 30% just before the platform's collapse [4][6]. Group 2: Regulatory Actions and Warnings - The HSEX exchange issued a notice regarding Yuzhi Financial's suspicious activities, including potential wash trading and market manipulation, leading to regulatory measures requiring a 20% deposit of total assets as a "self-certification margin" [5][6]. - The Hong Kong Stock Exchange had previously flagged Yuzhi Financial as a suspicious website and clarified that it had no affiliation with HSEX [10]. - Local authorities in various regions, including Guangdong, issued warnings about Yuzhi Financial's illegal financial activities, emphasizing that it lacked the necessary regulatory licenses [19][22]. Group 3: Investment Scheme and Risks - Yuzhi Financial employed a multi-level marketing strategy, offering incentives for users to recruit new investors, which is characteristic of Ponzi schemes [13][16]. - The platform advertised unrealistic returns, with claims of a 370.6% monthly growth rate for dynamic investments, which raised red flags about its legitimacy [12][16]. - Users reported that initial small investments yielded quick returns, which encouraged them to invest larger amounts, ultimately leading to significant losses when the platform collapsed [13][18]. Group 4: Industry Context - The article places Yuzhi Financial's collapse within the broader context of increasing illegal activities related to virtual currencies, including fraud and money laundering, particularly following the rise of stablecoins [21][23]. - Regulatory bodies, including the People's Bank of China, have intensified efforts to combat illegal cryptocurrency trading and related financial crimes, marking a significant shift in the regulatory landscape [20][23].

Core Viewpoint - The convergence of Ponzi schemes and virtual currencies has led to significant financial fraud, exemplified by the collapse of the "Yuzhi Financial" platform, which claimed to operate in the virtual currency options market but has left users unable to withdraw funds [1][15]. Group 1: Company Overview - "Yuzhi Financial" was established on September 3, 2024, and falsely claimed to be based in Hong Kong, listing itself on the Hong Kong Equity Trading Display Center with stock code HK31919 [2]. - The platform utilized the Hong Kong Stablecoin Exchange (HSEX) app for trading, charging a 10% withdrawal fee, which was raised to 30% just before its collapse [4]. - The platform's operations were flagged as suspicious by the Hong Kong Stock Exchange, which listed it as a dubious website and clarified that it had no affiliation with HSEX [8]. Group 2: Financial Operations and Fraud Mechanisms - "Yuzhi Financial" employed a strategy of creating a false narrative of wealth generation through fabricated profit records, enticing users to invest more and leverage their positions [10]. - The platform offered both static and dynamic returns, with claims of a 370.6% monthly return on dynamic investments, which were part of a multi-tiered referral system designed to incentivize user recruitment [13][10]. - Users reported that initial small investments yielded quick returns, which were then used to encourage larger investments, ultimately leading to significant losses when the platform collapsed [10][15]. Group 3: Regulatory Context and Industry Risks - The People's Bank of China and other regulatory bodies have been actively working to combat illegal financial activities associated with virtual currencies, emphasizing that such activities are considered illegal financial operations [16][17]. - Recent regulatory measures have included the classification of stablecoins as a form of virtual currency, subjecting them to the same scrutiny and legal boundaries as other cryptocurrencies [17][18]. - The rise of Ponzi schemes utilizing virtual currencies has prompted warnings from various local governments, highlighting the risks associated with unregulated financial activities in this sector [15][16].

本报北京12月1日电(记者徐佩玉)中国人民银行日前召开打击虚拟货币交易炒作工作协调机制会议。会 议指出，我国将继续坚持对虚拟货币的禁止性政策，持续打击虚拟货币相关非法金融活动，保护人民群 众财产安全。 近年来，各单位按照2021年中国人民银行等十部门联合发布的《关于进一步防范和处置虚拟货币交易炒 作风险的通知》要求，坚决打击虚拟货币交易炒作，整顿虚拟货币乱象，取得明显成效。近期，受多种 因素影响，虚拟货币投机炒作有所抬头，相关违法犯罪活动时有发生，风险防控面临新形势、新挑战。 会议强调，虚拟货币不具有与法定货币等同的法律地位，不具有法偿性，不应且不能作为货币在市场上 流通使用，虚拟货币相关业务活动属于非法金融活动。稳定币是虚拟货币的一种形式，目前无法有效满 足客户身份识别、反洗钱等方面的要求，存在被用于洗钱、集资诈骗、违规跨境转移资金等非法活动的 风险。 会议要求各单位要深化协同配合，完善监管政策和法律依据，聚焦信息流、资金流等重点环节，加强信 息共享，进一步提升监测能力，严厉打击违法犯罪活动，维护经济金融秩序稳定。 ...

Core Viewpoint - The People's Bank of China (PBOC) has reaffirmed its strict stance against virtual currencies, emphasizing the continuation of prohibitive policies and intensified efforts to combat illegal financial activities related to virtual currencies [1][2][3] Regulatory Framework - The PBOC and other government departments have consistently defined virtual currencies as illegal financial activities, starting from a 2013 notice that classified Bitcoin as a "specific virtual commodity" without legal status equivalent to currency [1] - In 2017, the regulatory environment tightened further with a ban on Initial Coin Offerings (ICOs), which were deemed illegal public financing activities [1] Recent Developments - A recent meeting highlighted the resurgence of speculative activities in virtual currencies, leading to increased illegal activities such as gambling, fraud, and money laundering [2] - The meeting reiterated that virtual currencies do not have the same legal status as fiat currencies and should not circulate as money in the market [2] Focus on Stablecoins - The meeting specifically identified stablecoins as a form of virtual currency, noting their fundamental flaws in meeting customer identification and anti-money laundering requirements [2] - Concerns were raised about the risks associated with stablecoins, including their potential use in money laundering and fraudulent fundraising [2][3] Future Regulatory Direction - The regulatory approach is expected to evolve towards more collaborative, precise, and efficient mechanisms to address the challenges posed by virtual currencies [3] - There will be a focus on leveraging technological advancements to combat hidden transactions and fund transfers, aiming to establish a robust risk isolation framework in the virtual currency sector [3]

Core Viewpoint - The People's Bank of China emphasizes the need to combat virtual currency trading speculation and illegal financial activities, highlighting the risks associated with virtual currencies and the importance of regulatory measures [1][2] Group 1: Meeting Overview - The meeting was attended by representatives from various government departments, including the Ministry of Public Security and the State Administration of Foreign Exchange [1] - The meeting acknowledged the efforts made in recent years to implement policies against virtual currency trading and the noticeable results achieved [1] Group 2: Current Challenges - There has been a recent uptick in speculative trading of virtual currencies, leading to an increase in illegal activities and new challenges in risk prevention [1] - Virtual currencies do not hold the same legal status as fiat currencies and should not be used as a medium of exchange in the market [1] Group 3: Regulatory Actions - The meeting called for a continuation of the prohibition on virtual currencies and a sustained crackdown on related illegal financial activities [2] - Emphasis was placed on enhancing collaboration among regulatory bodies, improving regulatory policies, and focusing on key areas such as information and capital flows [2]

Core Viewpoint - The People's Bank of China (PBOC) is intensifying efforts to combat virtual currency trading speculation and illegal activities, emphasizing that virtual currencies do not hold legal status equivalent to fiat currencies and should not circulate in the market [2] Group 1: Regulatory Actions - A meeting was held by the PBOC on November 28 to coordinate efforts against virtual currency trading speculation [2] - The meeting highlighted the need to address the recent resurgence of speculative activities in virtual currencies and related illegal activities [2] - The PBOC reiterated its commitment to a prohibitive policy on virtual currencies and the continuous crackdown on illegal financial activities related to them [2] Group 2: Risks and Challenges - The PBOC noted that stablecoins, a form of virtual currency, currently fail to meet requirements for customer identification and anti-money laundering, posing risks for illegal activities such as money laundering and fundraising fraud [2] - The meeting acknowledged new challenges in risk prevention and control due to various influencing factors [2] Group 3: Collaborative Efforts - Various governmental bodies, including the Ministry of Public Security and the Supreme People's Court, participated in the meeting to enhance collaboration and improve regulatory policies [3] - The PBOC called for deeper cooperation among units to strengthen information sharing and monitoring capabilities [2]

Core Insights - The fundamental principle of trading is survival, followed by profit, emphasizing the importance of a personal trading strategy and risk management [1] - The current price of Ethereum (ETH) is $2995, with potential short-term support at $2960 and resistance levels to watch [1][3] - The market is experiencing a consolidation phase, with key indicators suggesting a downward trend [3][5] Price Analysis - The highest price before the report was $3051, and the lowest was $2960, indicating a range of volatility [3] - The EMA15 trend line is pressing down at $3036, suggesting a bearish outlook [3] - The MACD shows a bottom divergence trend, with the DIF and DEA forming a golden cross below the zero line [3] Support and Resistance Levels - Short-term support is identified at $2960, which coincides with the lower Bollinger Band and trend indicators [5] - Key resistance levels are at $3100 (EMA120) and $3170 (Fibonacci retracement level) [5] - If the price fails to break through $2960, a short-term trading opportunity is suggested [5] Trading Strategy - For short positions, entry points are suggested between $3100 and $3150, with a stop loss of 50 points and targets set between $3050 and $3000 [5] - For long positions, entry points are between $3000 and $2970, with similar stop loss and target strategies [5] - Emphasis on real-time data for specific trading decisions, highlighting the importance of risk management [5]

Core Viewpoint - The People's Bank of China (PBOC) is intensifying efforts to combat virtual currency trading speculation, highlighting the need for strict regulatory measures and collaboration among various government departments to address emerging risks in the sector [3][6]. Group 1: Regulatory Actions and Policies - The meeting emphasized the importance of adhering to the directives from the Central Committee and the State Council, focusing on the implementation of the 2021 notice aimed at preventing and addressing risks associated with virtual currency trading [3]. - The PBOC and other relevant departments have previously issued multiple policy documents since 2017 to mitigate risks related to domestic virtual currency trading, which remain effective [5]. - The PBOC plans to continue its crackdown on illegal virtual currency operations and trading, while also monitoring the development of overseas stablecoins [5]. Group 2: Risks and Challenges - Recent trends indicate a resurgence in speculative trading of virtual currencies, leading to an increase in related illegal activities, thus presenting new challenges for risk management [3]. - Virtual currencies do not hold the same legal status as fiat currencies and are classified as illegal financial activities, with stablecoins posing specific risks related to anti-money laundering and customer identification [3][5]. - The international community has expressed growing concern over the potential risks associated with virtual currencies, particularly regarding their impact on financial stability and regulatory gaps [5]. Group 3: Future Directions - The meeting called for a comprehensive implementation of the Party's 20th National Congress directives, emphasizing risk prevention as a perpetual theme in financial work [6]. - There is a need for enhanced collaboration among various regulatory bodies to improve monitoring capabilities and information sharing, aiming to protect public assets and maintain financial order [6].

会议强调，虚拟货币不具有与法定货币等同的法律地位，不具有法偿性，不应且不能作为货币在市场上 流通使用，虚拟货币相关业务活动属于非法金融活动。稳定币是虚拟货币的一种形式，目前无法有效满 足客户身份识别、反洗钱等方面的要求，存在被用于洗钱、集资诈骗、违规跨境转移资金等非法活动的 风险。 新京报讯据中国人民银行消息，2025年11月28日，中国人民银行召开打击虚拟货币交易炒作工作协调机 制会议。公安部、中央网信办、中央金融办、最高人民法院、最高人民检察院、国家发展改革委、工业 和信息化部、司法部、中国人民银行、国家市场监管总局、国家金融监管总局、中国证监会、国家外汇 局有关负责同志出席会议。 会议指出，近年来各单位认真贯彻落实党中央、国务院决策部署，按照2021年中国人民银行等十部门联 合发布的《关于进一步防范和处置虚拟货币交易炒作风险的通知》要求，坚决打击虚拟货币交易炒作， 整顿虚拟货币乱象，取得明显成效。近期，受多种因素影响，虚拟货币投机炒作有所抬头，相关违法犯 罪活动时有发生，风险防控面临新形势、新挑战。 会议要求，各单位要坚持以习近平新时代中国特色社会主义思想为指导，全面落实党的二十大和二十届 历次全会精神 ...

Core Viewpoint - The influx of cryptocurrency trading activities on social media platforms, particularly targeting young users, has led to a proliferation of misleading and potentially harmful content promoting speculative trading practices [1][2][10]. Summary by Sections Cryptocurrency Trading Promotion - Various social media platforms, especially Xiaohongshu, have become hotspots for cryptocurrency trading discussions, with posts claiming significant profits from small investments [2][3]. - Users are being lured into trading through enticing narratives, such as turning 5,000 yuan into 1 million yuan, often shared by accounts portraying relatable personas like young workers or mothers [2][4]. Monetization Strategies - Some accounts are selling cryptocurrency trading tutorials, with prices ranging from 29.9 yuan to 128 yuan, while others promote job opportunities in the crypto space with inflated salary claims [3][5]. - There are also direct advertisements claiming benefits for new users on platforms like Binance, which are actually designed to funnel users into trading activities [3][4]. Risks and User Experiences - A recent investigation revealed that many new traders experience significant losses, often due to high-risk leveraged trading strategies [6][7]. - The volatility of cryptocurrency markets is highlighted, with reports of substantial losses during market downturns, emphasizing the dangers of relying on leverage [8][9]. Regulatory Environment - The Chinese government has classified cryptocurrency trading as illegal financial activity, and ongoing efforts are being made to combat these practices [10][11]. - Regulatory bodies are focusing on the deceptive marketing tactics used to attract new traders, emphasizing the need for stricter oversight and user education [10][12]. Conclusion - The current landscape of cryptocurrency trading on social media poses significant risks to inexperienced investors, necessitating a collaborative effort between regulators, platforms, and users to mitigate these dangers [11][12].