Virtual Currency: Criminal Governance Dilemmas and Countermeasures for Money-laundering Crime

Abstract

Based on the increasing number of virtual currency money laundering cases year by year, it can be observed that traditional money laundering methods are no longer sufficient to address the evolving money laundering practices associated with a large volume of accounts engaged in upstream criminal activities. The current society urgently needs effective governance strategies to combat virtual currency money laundering. By examining the concept and characteristics of virtual currency, as well as the criminal composition, types, and forms of offenses associated with money laundering, it becomes clear that there are several challenges in judicial determination, supervision, and evidence collection related to virtual currency money laundering, as well as other criminal governance dilemmas. To address these challenges, it is essential to implement prevention and control measures that improve the normative mechanism and regulatory system of virtual currency money laundering, optimize the means of evidence collection, and target the entire chain of criminal activity, with a particular focus on cracking down on upstream crimes. These measures can play a vital role in effectively curbing the occurrence of virtual currency money laundering.