‍China Supreme Court Cracks Down on Crypto for Money Laundering

The Supreme People's Court of China has announced a significant shift in enforcement priorities, targeting the use of virtual currency and underground banking in cross-border crimes and telecom fraud. Authorities are intensifying efforts to dismantle financial networks used for illicit activities.

The court will focus on prosecuting leaders of criminal syndicates and "money men" who manage financial logistics. Virtual currencies are identified as a key tool for modern money laundering due to their perceived anonymity and ease of transfer. Future actions will target technical facilitators of these operations. This move reflects a global trend in adapting legal frameworks to address decentralized finance and digital assets.

https://cryptovka.com/news/china-supreme-court-targets-crypto-in-new-money-laundering-crackdown