China Tightens Cryptocurrency Control 🚨

- Chinese lawmakers are considering amendments to the Anti-Money Laundering Law to increase monitoring of cryptocurrency risks.

- The Supreme People's Court has expanded the definition of money laundering channels to include virtual assets.

- Financial institutions will be required to assess the risks associated with new technologies.

- Authorities continue to aggressively crack down on cryptocurrencies, which has already led to exchange closures and a drop in BTC prices.