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Caixin: 3,032 People Prosecuted for "Virtual Currency" Money Laundering Crimes in 2024
BlockBeats News, December 6th. A Caixin article titled "Building a Strong Firewall for Virtual Currency to Protect the Public's 'Wallet'" pointed out that in the recent period, speculative trading of virtual currencies has been on the rise. Establishing a firewall for virtual currency not only relies on full cooperation among various departments but also requires the improvement of relevant regulations, enhancement of regulatory capabilities, strengthening of technical monitoring in key areas, and protection of normal economic and trade activities.
The article cited data showing that in 2024, Chinese authorities prosecuted 3,032 individuals for money laundering crimes involving the use of "virtual currency" to transfer criminal proceeds. Some individuals were "dragged into the water" due to a lack of legal awareness. Scholars analyzed 283 judgment documents of money laundering crimes involving virtual currency and found that criminal groups extensively used marginalized youth with low education levels as criminal tools, with significant regional clustering.
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