Caixin: Last year, over 3,000 people were prosecuted for money laundering involving cryptocurrencies. Establishing a virtual currency firewall is necessary to protect normal economic and trade activities

Caixin published an article titled "Building a Firewall for Virtual Currency to Protect the Public's 'Wallet'", which points out: Recently, speculation and hype around virtual currencies have been on the rise. Establishing a firewall for virtual currencies relies not only on the full cooperation of various departments but also on improving relevant regulations, enhancing regulatory levels, strengthening technical monitoring capabilities in key areas, and protecting normal economic and trade activities.

Data shows that in 2024, relevant departments prosecuted 3,032 individuals for money laundering crimes involving the transfer of criminal proceeds using "virtual currencies." Many individuals were drawn into this due to a lack of legal awareness. Scholars have analyzed 283 judgments of money laundering cases using virtual currencies and found that criminal groups heavily utilize marginalized youth from socio-economic backgrounds as tools for crime, with a significant regional concentration and a majority having a junior high or high school education.