🚨 New "Anti-Money Laundering Law" Effective, Cryptocurrency Sector Enters a New Era of Compliance!
Starting January 2025, the new "Anti-Money Laundering Law" will officially take effect, and virtual currency transactions will be brought under regulatory oversight for the first time. This significant change will profoundly impact the entire cryptocurrency sector. Here are the core points:
1️⃣ Expanded Definition of Money Laundering Crimes
Virtual currency transactions will become a key focus of anti-money laundering monitoring, with all transactions subject to strict scrutiny, making it impossible for illegal fund flows to evade detection.
2️⃣ New Regulations on Wage Payments
The new law explicitly states that salaries must be paid in legal tender, prohibiting the use of virtual currencies for settlement. This means that businesses and employees will need to adopt compliant payment methods.
3️⃣ Increased Compliance Requirements for Platforms and Users
• Trading platforms must enhance anti-money laundering audit standards.
• For example: stringent identity verification, tracking the flow of funds, ensuring the transaction process is transparent and compliant.
🔍 Industry Impact and Trends
• Individuals and businesses can still legally participate in virtual currency transactions, but they must undergo rigorous compliance checks.
• With the advancement of compliance, the virtual currency market will become more regulated, and the industry environment will be revitalized.
• Compliance will become a key competitive advantage for platforms and investors in the future.
💡 Summary:
The introduction of the new "Anti-Money Laundering Law" signifies that the cryptocurrency sector will bid farewell to the "gray area," and future success will depend on compliant development. Individuals and businesses need to prepare in advance and seize the new opportunities brought by compliance!
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