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 dollars and transfer it abroad?
Bank currency purchase and remittance have a limit of 50,000 US dollars per person per year, taking 14 years to complete;
Finding someone to exchange, cash exit, and overseas card collection are all under strict surveillance.
Legal pathways? Completely blocked.
But cryptocurrency is different—
No limit restrictions, instantaneous globally;
Even with limits, 14 people can help you convert 5 million RMB into coins, put it on a USB drive, take it abroad, and no one will know.
It’s like gold, but more terrifying than gold—
Decentralized, anonymous transactions, global circulation,
National finances and regulations simply cannot catch it.
What’s even more deadly is—
Once it becomes popular, the Golden Tax Phase IV will be a joke.
Who can tolerate such complete loss of control?
So, it’s not that virtual currency has problems,
But that it threatens the centralized financial and tax system.
This is the real reason it has been banned. $BTC #美联储降息