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The truth about the Hangzhou encryption team involved in the case: not a full industry sweep, practitioners should know the red lines.
The Truth and Warning of the "Hangzhou Investigation" Incident in the Encryption Industry
Recently, the "Hangzhou investigation" incident regarding the encryption industry has attracted widespread attention. After multiple verifications, including confirming with the relevant judicial authorities in Hangzhou and obtaining information from other sources, it can be confirmed that the so-called systematic investigation by the Hangzhou police on encryption practitioners is false information.
The Truth of the Event
According to reliable sources, a local large-scale encryption-related team in Hangzhou is involved in a case that may relate to foreign exchange crimes, likely constituting illegal business operations. Previously circulated information might have resulted from the involvement of suspects or witnesses cooperating with public security investigations. There are reports that certain practitioners in Hangzhou's encryption industry have been missing for several days, and these individuals are part of a relatively large team.
Therefore, it is speculated that the truth of the "Hangzhou investigation" incident is that there are local encryption-related teams involved, rather than conducting an investigation, inspection, or crackdown on the entire encryption industry.
Warning to the encryption industry
This event brings two important warnings to the encryption industry:
regulatory red line
Currently, practitioners in the mainland encryption industry are prohibited from engaging in the following activities:
It is important to note that although the relevant notice lists the above red lines, it does not specify clear legal consequences. In criminal cases, the principle of legality must still be strictly adhered to.
response strategies during investigation
If you unfortunately encounter criminal legal issues, you can refer to the following suggestions:
Conclusion
The domestic encryption industry practitioners face a severe survival environment. It is essential to be cautious when disseminating information, and it is best to publish only after verification. In case of legal issues, it is advisable to consult a professional blockchain lawyer promptly.