News Snapshot:
Yuriko Nakao/Getty ImagesPolice in China arrested more than 1,100 people suspected of using cryptocurrencies to launder money acquired through telecommunication scams, the country's Ministry of Public Security said on its official WeChat account .Its investigators have stamped out over 170 criminal gangs to date in an operation to crack down on telecom fraud, the ministry said Wednesday.The suspected "coin farmers" converted the proceeds of illegal activity into cryptocurrencies on trading platforms and charged their criminal clients commissions of between 1.5% to 5% for the service, the ministry said. "The high illegal income attracts a large number of people to participate,...
