#MarketSentimentToday Oh well! Justin Sun start shill posts about China soon will unban crypto)) But today China Recognizes Cryptocurrency Transactions as a Form of Money Laundering
China's Supreme Court has included the concept of "virtual asset transactions" in the Anti-Money Laundering Law, making the transfer and conversion of illegally obtained digital assets subject to the law.
Violators face fines of 10,000 to 200,000 yuan (1400 to 28000) or prison terms of five to 10 years. The number of people convicted under the law increased 20-fold from 2019 to 2023, to more than 2,900, according to the Supreme People's Procuratorate.
