News Snapshot:
Crypto-Related Money Laundering in China Leads to Arrest of 1,100 Suspects Chinese authorities have arrested over 1,110 people suspected of crypto-related money laundering. The Ministry of Public Security claims those arrested used crypto to launder profits from internet and telephone scams. The case involved a 1.5-5% commission charged to clients, in order to convert illegal profits into digital money via crypto exchanges. By the afternoon of June 9, reports claim that police caught at least 170 criminal groups using digital currencies in money laundering schemes. The ministry released the report via its official WeChat page. Following the report, the Chinese...
