China's crypto regulations upgraded: 13 departments join forces, adding the Ministry of Justice, Central Bank Financial Office, and National Financial Regulatory Administration. Compared to the 10-department lineup of the 2021 '924 Notice,' this time the regulatory framework has undergone a qualitative shift. From departmental collaboration to systematic governance, from administrative documents to legal enforcement, the determination and methods of regulators are being fully upgraded. What’s particularly noteworthy is that stablecoins have been explicitly listed as a key target for crackdown, and a tech-driven full-chain monitoring system is being built. What does this mean?