#Supreme People's Procuratorate Cracks Down on Virtual Currency Crimes#

The Supreme People's Procuratorate, at a recent national procuratorate conference, stressed that it will step up efforts to punish money laundering crimes and crack down on illegal activities of transferring assets to overseas through virtual currencies. The conference pointed out that procuratorial organs should crack down on financial crimes, including illegal fundraising, loan fraud, financial fraud, market manipulation, etc., maintaining a high-pressure stance against financial crimes involving the public, and strive to build a solid foundation for financial stability. In addition, procuratorial organs will leverage the role of the Procuratorate Office stationed in the China Securities Regulatory Commission, improve the implementation of the case transfer mechanism for securities crimes, and promote the stable and healthy development of the capital market. The conference also stressed the need to work together to prevent and resolve financial risks, actively promote the establishment of a sound mechanism for the coordination of administrative law enforcement and criminal justice in the financial sector, and strengthen the combined forces of risk prevention, supervision, and development. This measure shows that the country will strengthen its crackdown on virtual currency crimes, maintain financial stability, and promote the healthy development of the capital market.