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Caixin: 3032 People Prosecuted for Crypto Money Laundering Last Year, Establishing Virtual Currency Firewall Needed to Protect Normal Economic Trade Activities
Summary: According to Caixin, in the article 'Building a Virtual Currency Firewall to Protect the Public's 'Wallets',' it is pointed out that recent speculation in virtual currencies has been on the rise. Establishing a firewall for virtual currencies not only requires full cooperation from various departments, but also the improvement of relevant regulations, enhancement of regulatory ...
According to Caixin, in the article 'Building a Virtual Currency Firewall to Protect the Public's 'Wallets',' it is pointed out that recent speculation in virtual currencies has been on the rise. Establishing a firewall for virtual currencies not only requires full cooperation from various departments, but also the improvement of relevant regulations, enhancement of regulatory levels, strengthening of technical monitoring capabilities in key areas, and protection of normal economic trade activities.
Data shows that in 2024, authorities prosecuted 3032 people for crimes such as money laundering using 'virtual currency' to transfer criminal proceeds. Many individuals were unwittingly involved due to a lack of legal awareness. Scholars analyzed 283 judgments of cases involving money laundering using virtual currencies and found that criminal groups extensively used marginalized youth as crime tools, with significant regional clustering and a majority having only a junior high school education.
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Link: Caixin: 3032 People Prosecuted for Crypto Money Laundering Last Year, Establishing Virtual Currency Firewall Needed to Protect Normal Economic Trade Activities [Copy]
