Why should we ban encrypted digital currencies? Because it's too easy to launder money.

Encrypted digital currencies cannot be monitored by the state; if you have a good memory, you can even remember it all in your head, leaving no traces.

For example, if a corrupt official embezzles hundreds of millions, what can be done? It's impossible to spend that much; where did all that money come from? Storing it in a bank would only expose oneself, buying gold? Ultimately, it still can't be spent. Bringing it abroad? Customs will tell you it's very risky!

At this point, you can convert all your cash into Bitcoin, remember the wallet address and password in your head, and smoothly migrate abroad.

Once overseas, you can convert the Bitcoin back.

So why do countries define cryptocurrencies as illegal? Because this thing makes money laundering and asset transfer too easy.

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