After being pro-blockchain and removing crypto mining in their banned industries, these filthy companies who are implementing scams and ponzi schemes are taking advantage of the news thinking that the government are fine with them.
I got a feeling that even before China ruled in favor of crypto these illegal operations from these companies already existed. They are "illegal" in the first place and they don't see any kind of requirement to operate. The crackdown that is happening now only justify that they already operating in their Silicon Valley before any kind of support from the government. This is something commonly done by greedy people who are taking advantage of the demand and instead of having a legitimate business they will opt out to a much easier way of getting money which is scamming them. This is a good move from the Chinese government as it is a plus to see that they are trying to remove scams from happening in the industry.
