Suning Financial Research Institute special researcher He Nanye told the Times reporter that the regulatory authorities have always held a non-supportive attitude towards virtual currencies. This comprehensive crackdown is due to the recent rise in virtual currency transactions, especially the increasing use of blockchain to engage in virtual currency transactions. Virtual currencies at this stage cannot provide real value to the real economy. At the same time, virtual currencies provide a hotbed and soil for illegal transactions such as money laundering. There are many illegal cases of financial pyramid schemes through virtual currencies, which are not good for the development of the real economy. The crackdown on virtual currency transactions is good for the development of blockchain technology. The first is to contain the chaos in the industry, making the development of the industry more standardized, compliant, and transparent; the second is to play a good guiding role, highlighting the country's support for enterprises engaged in formal blockchain applications. At the same time, all blockchain companies are required to be able to remove fakes and save the truth, conduct solid research on the underlying applications, realize the combination of blockchain and physical scenes as soon as possible, and exert real value.