Virtual Money is not currency and is not allowed to circulate domestically.

Meaning is:
Don't think that the domestic market will be unblocked; it's impossible in the short term.
Because once it is opened up, it is a loophole for capital outflow.
So this is to tell everyone: "Don't hold any illusions."
"Virtual money related businesses are all illegal financial activities"
That is to say:
Doing these in the country:
Development, operation, maintenance, community, activities, conferences...
All belong to "illegal".
But the reality is:
As long as you don't show off, don't deceive people, and don't engage in large-scale capital flows, they generally won't specifically cause you trouble.
This is "the people do not raise, the officials do not investigate".
"Stablecoin risk is the highest" - this is the core,
Why?
Because stablecoins circumvent foreign exchange controls, it is equivalent to:
A "non-regulated small dollar system" has been quietly established domestically.
This is the most sensitive for the country, so the investigation is the strictest.
Summarize whether the impact is significant or not.
Reasons for minimal impact:
Everything that can be managed has been managed.
Everyone in the industry is overseas.
The market has long lost hope in mainland policies.
Funds and transactions are mainly overseas.
This is a statement of attitude, not a devastating blow.
But the points you need to pay attention to:
Do not openly promote cryptocurrency in the country.
Don't flaunt wealth.
Don't bring the rhythm.
Do not participate in gray OTC or score running.
Do not conduct large-scale cross-border capital flows.
Don’t cross the red line with self-media content.
Low profile is the best security.
Last sentence summary
This policy will not crash the market, nor will it change the bull or bear trend, but it continues to emphasize one thing:
"Prohibited domestically, active abroad" will be a long-term state.
Can play, can play,
But —
Keep a low profile, respect boundaries, and avoid gray areas.
This is the most correct posture.