TechFlow news: On August 19, the Supreme People's Court and the Supreme People's Procuratorate jointly held a press conference to release the "Interpretation on Several Issues Concerning the Application of Law in Handling Money Laundering Criminal Cases." The interpretation will take effect starting August 20, 2024.
The Interpretation lists transactions involving "virtual assets" as one of the methods of money laundering. It explicitly states that using "virtual asset" transactions or financial asset exchanges to transfer or convert proceeds and gains from criminal activities can be recognized as "other methods of concealing or disguising the source and nature of illegal gains" under Item 5, Paragraph 1, Article 191 of the Criminal Law.
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