#Supreme Procuratorate Cracks Down on Virtual Currency Money Laundering#

The Supreme People's Procuratorate, at a recent national procurators' conference, emphasized that it will increase efforts to combat money laundering crimes and crack down on criminal activities involving the illegal transfer of assets overseas using virtual currencies. The conference pointed out that procuratorial organs should crack down severely on financial crimes, including illegal fundraising, loan fraud, financial fraud, market manipulation, etc., and maintain a high-pressure posture in combating financial crimes involving the public, striving to solidify the bottom line of financial security and stability. The conference also emphasized the role of the Procuratorate's office stationed at the China Securities Regulatory Commission, the need to improve and implement the mechanism for handling securities crime cases, promote the stable and healthy development of the capital market, and actively promote the sound development of the mechanism for connecting administrative law enforcement and criminal justice in the financial field, and strengthen the synergy of risk prevention, strong regulation, and promoting development. This conference demonstrates that the Supreme People's Procuratorate will maintain a high-pressure posture against financial crimes such as money laundering using virtual currencies and actively promote the improvement of relevant laws and regulations and regulatory mechanisms to maintain financial security and stability.