China Supreme Court cracking down on money laundering, includes virtual assets, signaling stricter penalties

From Cointelegraph
August 19, 2024 11:03:05 PM:

The Supreme People’s Procuratorate reported a 20-fold increase in people prosecuted for money laundering since 2019.

This surge signals a crackdown on financial crimes in China, with authorities working to combat illegal activities and enforce stricter penalties.

The focus on money laundering comes as part of broader efforts to enhance financial transparency and integrity within the country’s legal system.

Read more at Cointelegraph: China Supreme Court revises Anti-Money Laundering law to include ‘virtual assets’