Sichuan authorities disclosed a forex-crypto operation case in Chengdu involving 3.9 billion yuan in illegal cross-border transactions. The Sichuan Public Security Bureau arrested 21 suspects, highlighting increased regulatory scrutiny.
This operation, initiated in August 2021, reveals China’s strict stance against unauthorized currency exchanges and financial misconduct. Heightened regulations aim to deter similar practices and protect economic integrity.
Additionally, China's actions may influence global financial governance trends, reflecting a broader movement toward standardized regulation of cryptocurrencies.
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