News Snapshot:
World Chinese police have detained over 1,000 people on suspicion of using cryptocurrencies to circumvent regulations and launder money. China’s Ministry of Public Security claimed on Wednesday that amid a statewide crackdown on money-laundering activities, authorities arrested more than 1,100 people and dismantled more than 170 “criminal gangs.” The arrests came as part of the fifth wave of Operation Card Breaking, which aimed to stop the use of “virtual currencies to facilitate transfer and money-laundering services for telecommunications network fraud crimes.” “In order to avoid being investigated and prosecuted, criminals began transferring payments using virtual currency. Some criminals actively supply...