I just saw the work report at the Two Sessions from the Supreme People's Court, which emphasized the crackdown on virtual currency money laundering and illegal capital flight crimes. To be honest, this signal is very clear— from the regulatory level to the judicial level, the country's attitude towards this area is becoming increasingly strict.

The Chief Justice explicitly pointed out in the report the need to punish crimes involving virtual currency as a medium for money laundering and capital flight according to the law, and to work together to prevent illegal cross-border fund transfers. This is not a new topic, but the fact that it was reiterated in such an official setting at the Two Sessions indicates that law enforcement and the judiciary are forming a joint effort. This year, as the starting year of the "14th Five-Year Plan," the national public security economic investigation departments have already listed cracking down on illegal financial crimes related to virtual currencies as a core task, meaning we are entering a phase of full normalization and high-pressure enforcement.

Interestingly, criminals are constantly upgrading their methods. Early on, it was simple virtual currency transfer money laundering, but now they have developed to using decentralized tools like DEX, mixers, and cross-chain bridges to hide fund flows. Some are also leveraging new concepts like NFTs, GameFi, and RWA to package money laundering activities, making them highly deceptive. Even more outrageous, some use models like "running points," "proxy investments," and "proxy U收" to lure ordinary users with high commissions, turning unaware individuals into accomplices in money laundering.

The harm caused by these virtual currency money laundering activities is really significant. Once the funds are laundered and flow abroad, tracking becomes extremely difficult, and the financial losses for individuals and institutions are often irreparable. Moreover, virtual currencies have become channels for crimes like telecom fraud, online gambling, and illegal fundraising, amplifying the social harm of illegal activities. Most importantly, ordinary users may unknowingly violate the law by participating in "proxy virtual currency collection" or "proxy transfers," potentially becoming money laundering accomplices.

Therefore, my advice is that everyone must stay alert to these traps. Absolutely do not participate in any exchange between virtual currencies and legal tender, do not accept or pay virtual currencies on behalf of others, and stay away from suspicious activities like "running points" and "arbitrage mining." Be cautious of phrases like "low risk, high return" or "instant collection," and any request for bank card, wallet address, or seed phrase carries extremely high risk. Protect your private keys and seed phrases, and do not lend out your accounts casually, as these can be exploited by criminals.

In summary, virtual currency is definitely not above the law. From policy bans to judicial enforcement and full-chain crackdowns, the country's governance system for this area is becoming more and more complete. While virtual currency money laundering may seem covert, it is actually fully traceable, risk predictable, and responsibilities can be pursued. Any luck-based mindset will ultimately pay a legal price. We must all abide by national laws, resist illegal financial activities, and jointly safeguard our property security and legal bottom line.