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Urgent Call for Crackdown on Crypto’s Role in Corruption, According to China State Daily

According to The Legal Daily, cryptocurrency is being labeled as a convenient tool for bribery due to its ability to be easily hidden. The article highlights the urgency for implementing measures to combat this issue. The authorities are urged to take strict action in cracking down on the use of cryptocurrency for illegal activities, particularly bribery. Given its anonymous nature, cryptocurrency provides a platform for individuals to engage in corrupt practices without leaving a trace. Therefore, it is crucial for regulatory bodies to establish effective mechanisms to monitor and prevent the misuse of cryptocurrencies in order to maintain transparency and integrity in financial transactions.

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