I went to the bank to take care of some matters and saw this description from the Industrial and Commercial Bank regarding virtual currency:

Business activities related to virtual currency, including exchanges and trading virtual currency as a central counterparty, are suspected of illegal financial activities and are strictly prohibited.

Overseas virtual currency exchanges providing services to residents within our country via the internet also constitute illegal financial activities.

Investing in virtual currency is not protected by law.

In fact, I fully understand the bank and the state's decision. The cryptocurrency market is indeed a high-risk environment, with 9 out of 10 people losing money. Therefore, the state simply implemented a blanket ban, which at least prevents the vast majority from being exploited. As for the small number who do not heed warnings and end up either getting rich or going bankrupt, that's their own business. To take it a step further, what is the difference between today's cryptocurrency market and the fraud market? I believe the vast majority of people regret entering the cryptocurrency market.