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China’s counterespionage authorities warned that cryptocurrencies are being used in illegal activities including cyberattacks and anti-China operations, according to Yonhap News.
China’s Ministry of State Security said today on social media platform WeChat that some people mistakenly believe receiving overseas funds in cryptocurrency enables true anonymous transactions and helps them evade legal penalties through what they see as untraceable features. The ministry said cryptocurrencies are not beyond the reach of the law and that their so-called anonymity is only superficial. It added that cryptocurrencies not only carry a risk of financial losses, but are also frequently used by overseas anti-China hostile forces and illegal actors in crimes that disrupt financial order and threaten national security, warning the public to clearly recognize their nature and remain vigilant.