Chinese Police Arrest 1.1K People on Crypto-Related Money Laundering Charges

Chinese Police Arrest 1.1K People on Crypto-Related Money Laundering Charges

Chinese police have arrested over 1,000 people on money-laundering charges, alleging they used cryptocurrency to help them evade the law.

This is the fifth round of a nationwide crackdown on money laundering activities related to telecom fraud in China, dubbed “Card Breaking Operation,” according to a statement released by the Ministry of Public Security on its official WeChat account on Wednesday.

The most recent round is targeted at people that use cryptocurrencies to assist money-laundering activities. The Chinese police named 170 criminal organizations in addition to the individuals they arrested.

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