China is cracking down on illegal crypto trades! đšđł
Banks must track and report risky forex activities linked to underground banking, gambling, and illegal crypto deals.
SAFEâs new rules tighten control over yuan and foreign currency flows â making it harder to dodge forex laws.
Legal experts say this adds more legal firepower to penalize offenders. Now banks are part of the watchdog team.
Is China setting a new global standard for stopping illegal crypto flows?