Is the "94 Incident" of 2017 coming again? 😱 In 2017, the People's Bank of China and six other departments banned ICOs and required exchanges to cease services. This time, the People's Bank of China and eight departments (including the People's Bank, Cyberspace Administration, Ministry of Industry and Information Technology, Public Security, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange) jointly issued a document. In 2017, the focus was mainly on ICOs and exchanges; this time, it is more comprehensive, including risk monitoring, targeted crackdowns, and restrictions on licensed financial institutions from participating, involving more departments (such as the Public Security Bureau and the State Administration of Foreign Exchange), possibly emphasizing law enforcement and cross-border activities. Overall, this seems like an upgraded version of the "94 Incident"! Is this big piece of bad news signaling the end of bearish sentiment? Or are we headed into more turmoil?