Economic Daily: Resolutely cut off the money laundering industrial chain of virtual currency

ChainCatcher news, Economic Daily published an article titled "Resolutely Cut Off the Virtual Currency Money Laundering Industry Chain," which states that virtual currencies have characteristics such as decentralization, anonymity, global convertibility, and ease of transaction. These features make money laundering methods more covert and difficult to trace, opening new channels for money laundering crimes and becoming a breeding ground for a series of new types of crimes. Many criminals hide abroad, making it difficult for regulatory authorities to collect evidence, repatriate, and combat these activities, which seriously endangers social stability, disrupts financial order, and affects the safety and development of financial markets, posing a significant threat.

The article states that cutting off the virtual currency money laundering industry chain requires grasping the new characteristics of money laundering, taking multiple approaches, and forming a joint force. Regulatory authorities need to further improve the regulatory mechanism, strengthen technological empowerment, and achieve full-chain tracking and real-time information backup of virtual currency transactions and exchanges through a combination of online monitoring and offline inspections, in order to curb the spread of money laundering and other illegal activities. Platform providers should strengthen their sense of responsibility, enhance their management awareness of anti-money laundering operations, organizational support, control capabilities, and technological investment, and utilize monitoring methods such as big data analysis and cloud computing to timely plug loopholes.