#Supreme Procuratorate Cracks Down on Cryptocurrency Money Laundering#

The Supreme People's Procuratorate, at a recent national procurators-general conference, stressed that it would increase efforts to punish money laundering crimes and crack down on illegal activities involving the use of virtual currencies to transfer assets overseas. The meeting made it clear that procuratorial organs should severely crack down on financial crimes, including illegal fund-raising, loan fraud, financial fraud, and market manipulation, and maintain a high-pressure stance against financial crimes involving large numbers of people, striving to build a solid foundation for financial safety and stability. In addition, procuratorial organs will also give full play to the role of the procuratorate stationed at the China Securities Regulatory Commission, improve and implement the handover mechanism for securities crime cases, and promote the steady and healthy development of the capital market. The meeting emphasized the need to work together to prevent and resolve financial risks, actively promote the improvement of the mechanism for coordination between administrative law enforcement and criminal justice in the financial field, and strengthen the joint efforts of risk prevention, supervision, and development. This move shows that the state will further strengthen its crackdown on virtual currency money laundering crimes, maintain financial safety and stability, and promote the healthy development of the capital market.