Deputy Governor of the People's Bank of China: Strengthening Crackdown on Virtual Currency Money Laundering; Over 2,000 Cases Adjudicated Under the Money Laundering Charge Last Year

Odaily Planet Daily News: According to an article published by the People's Bank of China (PBOC) official WeChat account, PBOC Deputy Governor Xuan Changneng stated that China's anti-money laundering work has entered a new phase of high-quality development. Significant results have been achieved in combating money laundering and related illegal activities. In 2025, the number of cases nationwide adjudicated under Article 191 of the Criminal Law for the crime of money laundering exceeded 2,000. The authorities will strengthen the crackdown on professional money laundering, virtual currency money laundering, and cross-border money laundering activities, enhancing the efficiency of investigations, prosecutions, and judgments in money laundering cases.

Criminal groups exploit differences and loopholes in legal systems and regulatory rules across different countries and regions for arbitrage. They utilize various methods such as nominee accounts, fund matching (fictitious trades), and virtual currencies to conceal the flow of funds. This presents new challenges for financial regulation and law enforcement efforts globally. There is an urgent need for countries to strengthen cross-border coordination and cooperation in areas such as intelligence sharing, case investigation, and asset recovery.