What are the hazards of cross-border money laundering with virtual currency?
Compared with traditional money laundering tools, virtual currency has the characteristics of anonymity and decentralization, which makes virtual currency more harmful when used for cross-border money laundering.
1. Cross-border money laundering with virtual currency causes financial regulatory failure and endangers the stability of financial management order.
2. There is huge room for regulatory arbitrage at home and abroad, which seriously interferes with the normal activities of judicial organs.
3. The regulatory evasion of cross-border money laundering with virtual currency is strong, which has an impact on the foreign exchange control system.
4. It is difficult to recover the property involved in cross-border money laundering crimes with virtual currency, which seriously infringes on the victim's right of recourse.