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"Notice on Further Prevention and Handling of Risks Related to Virtual Currencies and Other Assets" has been released, and the entire social circle is discussing it. Here are some notes for Web3 workers:
1. Choosing the Right Track
The first step is selecting a track. Currently, there are many RWA concept projects domestically. Like previous "legitimate" blockchain projects in China, many of these lack underlying assets. Many newcomers can't tell the difference. Another track is exchanges. Exchanges have long been high-risk in China, but globally, they are a promising direction and can be considered major Web3 companies. The key is not to serve mainland users subjectively; most exchanges cannot pass KYC with mainland resident IDs. Technical services and art-related roles currently carry lower risks. 🔴 Do not overly trust the project team's rhetoric. 🔴 Do not go all-in on your own project, such as personal endorsements. For example, "Trust me, I’m fine in this project." 🔴 Avoid claiming you are involved in this or that. 🔴 Our target audience is always overseas Chinese; from our perspective, there are no mainland users.
2. Job Functions
The most common roles are operations, marketing, and business development, which also have the highest employment numbers. These can be divided into external and internal roles. External roles are riskier, especially those involving recruitment and fundraising. The "Notice" mentions rectifying "market entity registration and advertising management." Internal roles mainly involve producing materials. Do not exaggerate content for promotional effects or make unfulfillable promises, especially regarding returns—this is a big red flag! 🔴 Avoid publicly promoting ICOs, exchange rebates, or high-yield financial products on social platforms like Moments or Xiaohongshu. 🔴 Do not become a "代理" (agent) or "primary figure" for projects in China. 🔴 Never handle user funds personally or use personal bank accounts for deposits and withdrawals. Some may rush to buy U tokens and make serious mistakes. 🔴 Before promoting projects as KOLs, conduct thorough background checks.
3. Salary-Related Matters
Most issues here are not major, except for concerns about unclean U tokens. 🔴 It is recommended to use exchanges for receiving payments, as funds in exchanges are relatively cleaner.