‘I made over 10 million from trading cryptocurrencies, but I dare not cash out.’
‘I conducted four transactions, and my bank card was frozen three times. The last time, I chose Alipay, but it was also frozen due to being flagged as an abnormal transaction by the system.’
Having bought but not daring to sell, and profits becoming difficult to convert into tangible wealth, as Bitcoin prices reach new historical highs, similar experiences cast a shadow over every cryptocurrency trader.
Since its inception, despite frequent drastic price fluctuations, Bitcoin has become a well-known alternative asset recognized and traded by more and more people, with prices continually rising. On the other hand, the semi-anonymity of Bitcoin has become a breeding ground for certain criminals to hide their identities, transfer funds, and evade foreign exchange controls. Especially since 2017, when multiple countries, including China, severed the routes for purchasing Bitcoin and other digital assets with fiat currency, various stablecoins pegged to the US dollar, such as USDT and USDC, have become essential tools in the cryptocurrency space, providing more convenient and risk-free channels for the aforementioned activities.
