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Yesterday, I saw this hot news related to our wallets and the crypto playground, so I’m writing a quick summary for everyone to get the latest situation.
The story is that the Ministry of Justice just held a meeting to amend some anti-money laundering laws. This time, they are more strict and clear.
Here are the main points you need to note:
• Crypto under scrutiny: Soon, "cryptocurrency asset services" (meaning your crypto and digital currencies) will be subject to supervision. There will be clear regulations on suspicious transaction indicators to help authorities monitor and prevent cross-border money laundering.
• There will be specific figures, no more vague criteria: Previously, the State Securities Commission found the criteria too vague—like large transactions, quick buying and selling, or unusual prices—being classified as suspicious. Soon, they will quantify these with clear numbers and ratios for easier enforcement, so violators will know immediately instead of guessing.
In general, tightening the laws will make the market more transparent and cleaner, so if we trade properly, just stay calm and keep going!