Citing DL News, a recent report by Kathryn Westmore, senior research fellow at the Centre for Finance and Security, Royal Services Institute, reveals that Chinese money launderers are increasingly incorporating cryptocurrencies like Bitcoin and Tether USDT into their operations. Despite China’s strict capital controls and hostility toward digital assets, the report highlights how these virtual assets are being used to transfer illicit funds out of the country. The report also notes that Chinese laundering groups are now major players in Western organized crime, including the fentanyl supply chain, with blockchain data supporting the claims. Europol has also expressed concern over the growing sophistication of crypto-related crimes.
Chinese Money Launderers Increasingly Using Crypto, Report Reveals
DL NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.