Caixin: Last year, 3,032 people were prosecuted for money laundering related to cryptocurrencies; establishing a firewall against virtual currencies i...
TL;DR
Caixin reports that 3,032 people were prosecuted in 2024 for money laundering involving cryptocurrencies, highlighting the need for regulatory improvements and technical monitoring to protect the public. Criminal groups often target marginalized youth with low education levels for these crimes.
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Odaily Odaily that Caixin.com published an article titled "Building a Firewall Against Virtual Currency to Protect Public's 'Wallets'," which points out that recent speculation in virtual currencies has resurfaced. Establishing a firewall against virtual currencies requires not only the full cooperation of various departments but also the improvement of relevant regulations, enhanced supervision, strengthened technical monitoring capabilities in key areas, and protection of normal economic and trade activities. Data shows that in 2024, relevant departments prosecuted 3,032 people for money laundering crimes, including using virtual currencies to transfer criminal proceeds. Many were drawn into these crimes due to a lack of legal awareness. A scholar's analysis of 283 judgments in cases of money laundering using virtual currencies revealed that criminal groups heavily exploit marginalized youth as tools for their crimes, exhibiting significant geographical clustering and a predominantly high school or junior high school education.