Central Bank Deputy Governor: Strengthening Crackdown on Virtual Currency Money Laundering, Over 2,000 Money Laundering Cases Judged Last Year

Odaily reported that the official WeChat account of the People's Bank of China published an article stating that Xuan Changneng, Deputy Governor of the People's Bank of China, indicated that China's anti-money laundering work has entered a new phase of high-quality development. Significant progress has been made in combating money laundering and related illegal activities. In 2025, the number of cases adjudicated nationwide under Article 191 of the Criminal Law (money laundering offense) exceeded 2,000. Efforts will be intensified to target professional money laundering, virtual currency money laundering, and cross-border money laundering activities, enhancing the efficiency of investigation, prosecution, and adjudication of money laundering crimes.

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 off-setting, and virtual currencies to obscure the flow of funds, posing new challenges to financial regulation and law enforcement in various countries. This also urgently requires enhanced cross-border coordination and cooperation in intelligence sharing, case investigation, and asset recovery.