The new Anti-Money Laundering Law takes effect, bringing the cryptocurrency sector into a new era of compliance!

Starting January 2025, the newly revised Anti-Money Laundering Law will officially come into effect, for the first time including virtual currency transactions under regulatory supervision. This significant change will have a profound impact on the entire cryptocurrency sector, with the core points as follows:

1️⃣ Broadened Definition of Money Laundering Crimes

• Virtual currency transactions will become a key focus of anti-money laundering monitoring, with all transactions subjected to strict supervision, leaving no hiding place for illegal funds.

2️⃣ Updated Wage Payment Regulations

• The new law clearly states that salaries must be paid in legal currency, prohibiting settlements in virtual currencies. Companies and employees are required to adopt compliant payment methods.

3️⃣ Upgraded Compliance Requirements for Platforms and Users

• Trading platforms must strengthen anti-money laundering review standards, such as strict identity verification and tracking the flow of funds, to ensure transparent and compliant transactions.

🔍 Industry Impact and Trends

• Individuals and companies can still legally participate in virtual currency transactions, but must undergo strict compliance reviews.

• The compliance process will promote the standardization of the virtual currency market, revitalizing the industry environment.

• Compliance will become a core competitive advantage for platforms and investors in the future.

💡 Summary

• The promulgation of the new Anti-Money Laundering Law marks the cryptocurrency sector's farewell to the "gray area," with future success based on compliant development. Individuals and companies should prepare in advance to seize the new opportunities brought about by compliance!

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