An article in the 12th edition of the Economic Daily pointed out that virtual currencies have the characteristics of decentralization, anonymity, global exchangeability, and convenient transactions. Money laundering techniques are more concealed and difficult to trace, opening up new channels for money laundering crimes. The difficulty of collecting evidence and retrieving it is exacerbated by multiple conversions between different trading platforms and frequent exchanges between virtual and fiat currencies.

Therefore, to break the money laundering chain of virtual currencies, it is necessary to grasp the new characteristics of the new type of money laundering and adopt multiple measures to form a joint force. Regulatory authorities need to further improve regulatory mechanisms, strengthen technological empowerment, and achieve full-chain tracking and real-time information backup of virtual currency transactions and exchanges through online monitoring and offline investigation to curb the spread of illegal activities such as money laundering.

Platform operators should strengthen their sense of responsibility, improve their management awareness, organizational support, control capabilities, and technical inputs for anti-money laundering businesses. They should also use technologies such as big data analysis and cloud computing to monitor and timely plug loopholes.