Yesterday, China's Supreme People's Court officially included virtual asset transactions in the scope of money laundering activities. The news was announced at the latest press conference and marks China's tougher policies in combating money laundering and financial crimes.

According to the interpretation of China's Supreme People's Court, virtual asset transactions, including those of cryptocurrencies, are now officially recognized as a means that may be used for money laundering. This decision is part of the revision of the Anti-Money Laundering Law (AML Law) to address the growing risks posed by virtual assets. The revised law will further expand the scope of application of anti-money laundering and strengthen supervision of virtual asset service providers.

The update shows that the Chinese government will continue to take strong measures to control the potential risks of the virtual asset market and prevent it from being used for illegal activities. #美联储何时降息？ #MemeWatch2024 #币安Web3钱包