#Supreme People's Procuratorate Cracks Down on Virtual Currency Money Laundering#

The Supreme People's Procuratorate, at a recent national procurators' conference, stressed that it would intensify efforts to crack down on money laundering crimes, and prosecute criminal activities involving the illegal transfer of assets overseas using virtual currencies. The conference made it clear that procuratorial organs would severely crack down on financial crimes, including illegal fund-raising, loan fraud, financial fraud, market manipulation, and other activities, maintaining a high-pressure stance against financial crimes involving the public. The conference also emphasized the need to leverage the role of the procuratorial office stationed at the China Securities Regulatory Commission, to improve and implement mechanisms for handling securities crime cases, to promote the stable and healthy development of the capital market, and to actively promote the establishment of a sound mechanism for coordination between administrative law enforcement and criminal justice in the financial field, strengthening the combined force of risk prevention, strengthened supervision, and promoting development. This measure indicates that the State will pay more attention to cracking down on criminal activities involving money laundering and illegal asset transfer using virtual currencies, and will include them as a priority target for crackdown on financial crimes, in order to safeguard financial security and stability and promote the healthy development of the capital market.