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

The Supreme People's Procuratorate, at a recent national procurators' conference, emphasized that it would intensify efforts to punish money laundering crimes and crack down on illegal transfers of assets overseas through virtual currencies. The conference pointed out that procuratorial organs should severely crack down on financial crimes, including illegal fund-raising, loan fraud, financial fraud, market manipulation, and others, and maintain a high-pressure stance against financial crimes involving the public, striving to build a solid foundation for financial safety and stability. The meeting also stressed the need to leverage the role of the Procuratorate Office stationed at the China Securities Regulatory Commission, improve the implementation of the case transfer mechanism for securities crimes, promote the steady and healthy development of the capital market, and actively promote the establishment of a sound mechanism for the connection between administrative law enforcement and criminal justice in the financial field, strengthening the combined force of risk prevention, strengthening supervision, and promoting development. This move indicates that the country will further strengthen its crackdown on money laundering crimes involving virtual currencies, and through improving relevant mechanisms, maintain financial safety and stability and promote the healthy development of the capital market.