China warns crypto transactions are traceable despite claims of anonymity
- China’s Ministry of State Security warned cryptocurrency transactions are not anonymous or untraceable.
- The ministry said blockchain preserves transaction records allowing fund movements to be tracked.
- Institutions can identify users behind wallet addresses using blockchain and big data analysis.
- China does not recognise cryptocurrencies as legal tender and warns users that illicit transactions receive no legal protection.
Source: news.sbs.co.kr
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