The new Anti-Money Laundering Act has been promulgated, the crypto world is going to have a big problem.


Starting from January 2025, China's new Anti-Money Laundering Act will explicitly include Virtual Money transactions in the regulatory scope for the first time. This is aimed at combating illegal activities such as Money Laundering using Virtual Money!
There are three points in summary:
1. Expand the definition of Money Laundering crime, and include Virtual Money transactions in Anti-Money Laundering regulation.
2. The law clearly stipulates that wages must be paid in legal tender.
3. Strengthen the Compliance requirements review for the platform and users, and the trading platform needs to implement stricter Anti-Money Laundering checks,
Including:
• User authentication.
• Tracking of fund flows in transactions.
• Please note that individuals and businesses can legally participate in Virtual Money transactions!
After the sharp rise, encountering strict control, the market may have a large pullback!
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