Authorities in Sichuan have dismantled a large-scale forex operation involving over 3.9 billion yuan. A total of 21 individuals were arrested for conducting illegal currency trades through technology consulting firms.
The suspects employed virtual currency counter-trading and social media to attract clients, highlighting the role of crypto in cross-border financial crimes.
China's regulatory efforts continue to strengthen, with collaborations to publish cases of illegal activities, emphasizing a commitment to combat currency violations.
As regulations intensify, blockchain traceability solutions could emerge to stabilize unauthorized currency activities in the future.
Full story here: https://coincu.com/337974-sichuan-forex-operation-bust
