China is closely monitoring the use of virtual assets in money laundering activities, according to the country’s highest court, in a move that legal experts say could increase the risk of prosecution for trading cryptocurrency on the mainland.
Using virtual assets to transfer or convert criminal proceeds is among a range of money laundering methods that violate China’s criminal law, according to a judicial interpretation published on Monday by the Supreme People’s Court and the main agency responsible for legal prosecution, the Supreme People’s Procuratorate.
