China Busts a Crypto-Related Money Laundering Network of 1,100 People

News Snapshot:

Bitcoin Ethereum News The Chinese government keeps enforcing its cryptocurrency crackdown campaign as it has arrested over a thousand people who allegedly got engaged in money laundering through cryptos. According to a report from The Times of India, the detained people used profits from different crimes to acquire virtual currencies. Specifically, the country’s Ministry of Public Security unveiled that it busted a criminal ring of 1,100 people involved in money laundering, who charged clients a fee ranging between 1.5% – 5% to exchange illicit proceeds into cryptos via digital asset exchanges. However, authorities didn’t disclose the exact amount of money...