🇨🇳 China considers amending anti-money laundering law to oversee new financial technologies, including cryptocurrencies. 📈
- Legislative Affairs Commission spokesman Wang Xiang stressed the need to improve methods for detecting money laundering risks.
- The central bank and financial authorities will cooperate to manage risks from new technologies.
- Financial institutions must also assess risks from new business models.
🧑⚖️ The Supreme People's Court expands the definition of money laundering channels to include virtual assets.
- Money laundering of more than 5 million yuan or losses of more than 2.5 million yuan will be punished more severely.
🚫 The Chinese government has a history of hostility toward cryptocurrencies.
- In 2017, it ordered virtual asset exchanges to be shut down.
- In 2021, intensify the campaign against cryptocurrencies with cross-industry cooperation.
🌟 What do you think about the future of BTC in this context? Share your opinion! 💬