The State Council strengthens regulation of illegal activities involving virtual currencies related to tobacco, and deploys a comprehensive cleanup campaign across the entire chain

The General Office of the State Council recently issued a systematic rectification plan targeting illegal activities related to tobacco violations. According to reports from Foresight News, this official document explicitly states the need to intensify efforts to crack down on illegal transactions utilizing internet platforms and emerging technologies, with virtual currencies becoming a key focus.

Multidimensional Blockades Make Virtual Currency Transactions a Regulatory Focus

The rectification plan by the State Council covers multiple aspects including inbound and outbound transportation, international mail, and online transactions. In terms of enforcement, it not only emphasizes strengthening inspections of international logistics channels but also calls for in-depth research on overseas-registered websites, especially those involved in illegal tobacco product transactions using virtual currencies. This indicates that regulators have fully recognized the “cross-border advantage” of digital assets in smuggling activities.

New Challenges Behind New Technologies, Multi-Department Collaboration Is Essential

Smugglers of tobacco are leveraging virtual currencies to facilitate covert fund transfers and cross-border transactions, posing new challenges to traditional regulatory methods. The State Council’s plan highlights the need to establish precise crackdown mechanisms on new channels and emerging technologies, shifting from single-point investigations to comprehensive chain-wide enforcement. Illegal activities from production, transportation, and trading to final sales are all incorporated into the regulatory framework.

Policy Significance, Standardizing the Digital Economy Ecosystem

The release of this document signifies an increased requirement for compliance in the virtual currency sector. By coordinating multiple departments such as import and export, postal services, and finance, the State Council is building a more comprehensive prevention and control system to ensure that emerging technologies like virtual currencies are not exploited for illegal purposes, thereby safeguarding consumer safety and market order.