Chinese police have arrested over a thousand people. They are suspected of using cryptocurrency transactions to launder money obtained as a result of criminal activity, writes Reuters…
These are mainly money received from telephone and Internet fraud. In total, members of 170 criminal groups were arrested. For a commission of 1.5-5 percent, they transferred money into digital currency through cryptocurrency exchanges.
Earlier, the authorities of Xinjiang Uygur Autonomous Region of China demanded from June 9 to stop miners. In May, the PRC authorities announced the need to fight mining and crypto trading and called for stricter regulation of the sphere.
Because of this, BTC.TOP and HashCow cryptocurrency mining companies stopped working in the country. Huobi Exchange Huobi Exchange also announced that it will suspend digital currency mining and serve customers from mainland China.