企鹅队长
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Xu Mingxing speaks out, the real storm has just begun
Xu Mingxing, the founder of OKX, recently made a rare statement: he will review the sources of user funds and clear out borrowers involved in cryptocurrency trading, marking a formal upgrade in domestic regulation of the virtual currency market.
This storm has long been in the making. As early as February, Liangxi learned that the UAE planned to invest $2 billion in Binance; by the end of May, Sun Yuchen appeared at a Trump dinner, drawing high-level attention to the issue of capital outflows, and regulatory direction quickly shifted to tightening.
Xu Mingxing has always been tough; he once directly handed over cases of employee corruption to judicial authorities. Now, his proactive clearing of loan users indicates that this is driven by policy, not voluntary on the part of the platform. It is not surprising that OKX, which has the deepest background of “semi-nationalization,” took the lead in making a statement, and other platforms are expected to follow suit.
The core of this round of regulation is to prevent capital outflows, curb high-leverage speculation, and avoid more people losing their fortunes due to borrowing for cryptocurrency trading. The cryptocurrency industry is accelerating into a fully compliant era, and this round of cleansing is not only about risk control but also about systemic reconstruction.
Xu Mingxing, the founder of OKX, recently made a rare statement: he will review the sources of user funds and clear out borrowers involved in cryptocurrency trading, marking a formal upgrade in domestic regulation of the virtual currency market.
This storm has long been in the making. As early as February, Liangxi learned that the UAE planned to invest $2 billion in Binance; by the end of May, Sun Yuchen appeared at a Trump dinner, drawing high-level attention to the issue of capital outflows, and regulatory direction quickly shifted to tightening.
Xu Mingxing has always been tough; he once directly handed over cases of employee corruption to judicial authorities. Now, his proactive clearing of loan users indicates that this is driven by policy, not voluntary on the part of the platform. It is not surprising that OKX, which has the deepest background of “semi-nationalization,” took the lead in making a statement, and other platforms are expected to follow suit.
The core of this round of regulation is to prevent capital outflows, curb high-leverage speculation, and avoid more people losing their fortunes due to borrowing for cryptocurrency trading. The cryptocurrency industry is accelerating into a fully compliant era, and this round of cleansing is not only about risk control but also about systemic reconstruction.
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