#Supreme Procuratorate Cracks Down on Virtual Currency Money Laundering Crimes#

The Supreme People's Procuratorate, at a recent national procurators-general meeting, stressed that it will step up efforts to punish money laundering crimes and crack down on illegal activities involving the use of virtual currencies to transfer assets overseas. The meeting pointed out that procuratorial organs should severely crack down on financial crimes, including illegal fundraising, loan fraud, financial fraud, market manipulation, etc., and maintain a high-pressure posture in punishing financial crimes involving large numbers of people, striving to build a solid foundation for financial safety and stability. In addition, procuratorial organs will play the role of the procuratorial office stationed at the China Securities Regulatory Commission, improve and implement the mechanism for handling securities crime cases, and promote the stable and healthy development of the capital market. The meeting also stressed the need to coordinate efforts to prevent and resolve financial risks, actively promote the establishment of a sound mechanism for coordinating administrative law enforcement and criminal justice in the financial field, and strengthen the combined forces of risk prevention, supervision, and development. This measure indicates that the Chinese government will further strengthen its crackdown on money laundering crimes involving virtual currencies, safeguard financial security and stability, and promote the healthy development of the capital market.