Bitcoin is increasingly being utilized for illicit activities such as money laundering and unregulated fund transfers. For example, in China, individuals exchange assets for Bitcoin and sell them abroad for US dollars, evading banking regulations and moving funds undetected. This virtual currency poses a serious threat to our financial system, as criminals exploit its anonymity and lack of traceability to carry out illegal operations, disregarding the interests of the nation and its citizens.
Furthermore, Bitcoin's extreme price volatility and lack of intrinsic value often lead to reckless investments. Many individuals, enticed by the promise of high returns, end up losing their savings, causing significant economic losses and societal instability. Our country is committed to enhancing financial oversight and cracking down on illegal financial activities. We must remain alert to the risks and dangers posed by Bitcoin and prevent it from becoming a tool for personal gain at the expense of national interests.
Ordinary citizens should be cautious and avoid being lured by promises of high returns. Investments should be made through legitimate channels, selecting projects that are secure, legal, and compliant. Ensuring the country's financial security is a shared responsibility. We must work together to protect our economic environment by resisting the use of illegal financial tools like Bitcoin.
