Chinese lawmakers are considering revising a previous anti-money laundering law to increase their ability to monitor and analyze money laundering risks from new financial technologies, including cryptocurrencies.

According to a translation by the South China Morning Post, Wang Xiang, a spokesman for the Legislative Affairs Commission, said on September 9 that detection methods need to be improved due to the rapid development of new technologies.

The proposed regulations require the central bank and financial regulators to cooperate to manage money laundering threats from new technologies.

The Supreme People's Court has stated that virtual assets can be used as a method of money laundering and tax evasion. What do you think about this? We welcome your comments.