#加密市场观察 Why is virtual currency banned in the country? Because it can perfectly bypass foreign exchange controls and directly undermine the Golden Tax Phase IV.
Want to exchange 5 million cash from selling a house in a first-tier city into US dollars and transfer it abroad? Bank currency purchase and remittance, with a limit of 50,000 US dollars per person per year, it would take 14 years to complete; Finding someone to exchange, cash out of the country, receiving payments with an overseas card, all are under strict surveillance. Legal pathways? Completely blocked.
But cryptocurrencies are different — There are no limits, instant global transfers; Even with limits, 14 people can help you exchange 5 million RMB into coins, Load them onto a USB drive and take them abroad, no one knows.
It’s like gold, but even scarier — Decentralized, anonymous transactions, global circulation, National finance and regulation cannot grasp it at all.
What’s worse — Once it becomes popular, Golden Tax Phase IV will be a joke. Who can tolerate such complete loss of control?
So, it’s not that virtual currency has a problem, But that it threatens the centralized financial and tax system. This is the real reason for its ban.
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