TechFlow news: The State Council's executive meeting made significant progress in discussing the "Anti-Money Laundering Law (Revised Draft)." Wang Xin, a professor at Peking University Law School and an expert who participated in the revision discussions, stated that the revised draft is expected to be passed in 2025.
Yan Lixin, Executive Director of the China Anti-Money Laundering Research Center at Fudan University, said, "The most important, urgent, and necessary issue to address at the legal level currently is money laundering involving virtual assets." Money laundering using cryptocurrencies and virtual assets is gradually becoming a mainstream trend, yet Chinese law currently lacks a clear definition of the connotation and scope of virtual assets.
