Why does China not allow virtual currency trading platforms to exist?

I am very curious about the fact that in recent years, when China cracked down on illegal transactions such as fraud, online gambling, collusion, embezzlement, and money laundering, a large amount of virtual currency may have been confiscated.

So, how are these confiscated virtual currencies handled by judicial authorities? How to deal with them legally and in compliance with regulations needs to be supervised by the people.

One contradiction: If the judicial authorities sell virtual currency in China and convert it into cash and collect it into the national treasury or use it for fiscal and people's livelihood. Then there must be a counterparty and a buyer for the sale. The buyer must buy it for the purpose of trading. In this case, not only is the buyer guilty, but the judicial authorities will also find it difficult to deal with it.

Two contradictions: If the judicial authorities entrust the sale of virtual currency overseas, first of all, there will be entry and exit declarations for valuable goods entering and leaving the country. If the customs allows virtual currency to be declared and inspected normally, then isn't it a disguised recognition of legality? Secondly, the money traded overseas is subject to restrictions on foreign exchange settlement, and can only be carried out either as an individual or as a company, and is subject to quota restrictions. Then individuals and companies engaging in this business are also involved in crimes.

Three contradictions: The value of virtual currency fluctuates greatly. Many virtual currency varieties have a life span of only a few years. If they are not cashed temporarily, if they are held and kept by judicial authorities. The rise and fall of the value of virtual currency, inventory management, may also breed corruption, and even financial statistics are difficult to do.

In fact, the key point is that the definition of virtual currency is very vague. What do you think?

Recently, I am also preparing to lay out some potential spot.

Those who like spot contracts can follow and see the strength.

Click on my avatar,

Follow, homepage for more information, share strategies!

I need fans, you need references, it’s better to follow than to guess!

#币安合约锦标赛 #ASI代币合并计划 #Mt.Gox将启动偿还计划 #以太坊ETF批准预期 #MiCA