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

The Supreme People's Procuratorate (SPP) has emphasized at a recent national procuratorate conference that it will intensify efforts to combat money laundering crimes, and will crack down on illegal activities involving the use of virtual currencies to transfer assets overseas. The conference 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 stance in punishing financial crimes involving large numbers of people, striving to build a solid foundation for financial security and stability. Furthermore, procuratorial organs will also play a role in the Procuratorate Office stationed at the China Securities Regulatory Commission (CSRC), improve and implement the transfer mechanism for securities crime cases, and promote the healthy and stable development of the capital market. The conference emphasized the need to work together to prevent and resolve financial risks, actively promote the sound development of a mechanism that links administrative law enforcement and criminal justice in the financial sector, and strengthen the combined force of risk prevention, enhanced supervision, and promotion of development.