In the field of cryptocurrency, many participants often focus only on short-term gains, ignoring the deeper economic impacts. They generally believe that if the legalization of cryptocurrency can be achieved, issues such as convenient transactions and free deposits and withdrawals can be easily resolved. However, this idea may be overly simplistic.

In fact, if cryptocurrency is fully legalized in our country, its impact may go far beyond the realm of the crypto community and could even cause a huge shock to the entire economic system. Let's imagine the following scenarios that may occur within a year after legalization:

Firstly, a large amount of capital may shift from traditional financial markets to the cryptocurrency market, resulting in a severe blow to the A-share market. Many small and medium-sized listed companies may face delisting risks, which could trigger a chain reaction in the fund market. At the same time, the real estate market may also be affected, with housing prices potentially experiencing a significant drop.

Secondly, the large-scale flow of capital may lead to turmoil in the job market, resulting in an increase in unemployment rates. At the same time, inflationary pressures may significantly rise, which will directly impact the daily lives of ordinary people.

More seriously, if the situation continues to deteriorate, we may face the risk of currency devaluation. Imagine if the face value of the Renminbi had to be significantly increased like the currencies of some countries, making everyday consumption extraordinarily expensive, which would undoubtedly bring a huge shock to the socio-economy.

Therefore, when we discuss the legalization of cryptocurrency, we need to consider the far-reaching impacts it may bring comprehensively. Simply addressing some issues of transaction convenience while ignoring the potential economic risks is clearly not worth the cost. On this matter, we need to think more cautiously and comprehensively, weighing the pros and cons, rather than simply pursuing short-term gains.