👀 #Верховный A Chinese court has recognized transactions with “virtual assets” as a method of money laundering and enshrined this in the relevant law.
Now, the transfer and conversion of criminal proceeds through digital transactions can be punished with a fine ($1,400-28,000) or imprisonment for a term of five to ten years. Serious circumstances of the offense include refusal to cooperate with the authorities and laundering over 5 million yuan ($700,000).