Bitcoin and other crypto currency are increasingly being used for money laundering in other illegal financial transactions.

This was reported in the statement of the National Association of Internet Finance of China (NIFA).

The Association notes that bitcoin and other crypto-currencies are characterized by volatility, the absence of a clearly defined value base, the speculative atmosphere in the market. At the same time, investors often blindly follow trends, which can easily lead to financial losses.

According to experts, investors should increase their vigilance in order to prevent such risks.

The Association in its statement calls to observe the laws of the country and follow the prescribed standards, not to participate in centralized operations related to the crypto currency, and not to provide such services, as well as to counteract illegal financial activity.

Note that NIFA initiated by the central bank of China in cooperation with relevant ministries and commissions.