Osaka police in Japan arrest three suspects involved in laundering billions of yen through stablecoins

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Mars Finance News, June 20th, according to Japan's Kyodo News, Osaka Prefectural Police arrested three men on suspicion of violating the Act on Punishment of Organized Crimes, for allegedly laundering criminal proceeds on behalf of an investment scam group. It is reported that these three individuals converted approximately 14 million yen from six prefectures, involving a total of 10 victims, into stablecoins and other cryptocurrencies to conceal the source of funds.
According to Osaka Prefectural Police, these three individuals are classified as "over-the-counter traders" who conduct private cryptocurrency transactions without using trading platforms, and are believed to have participated in money laundering activities amounting to billions of yen.
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