China has intensified its crackdown on cryptocurrency, now classifying crypto transactions as money laundering under a new legal interpretation.
This move represents one of the strictest measures taken by the country against digital assets.
The Supreme People’s Court and the Supreme People’s Procuratorate have issued new guidelines that target various forms of money laundering, including those involving cryptocurrencies. These new rules establish clear legal repercussions for those using digital currencies to mask illicit funds.
Under the updated regulations, anyone involved in using crypto to hide the origins of illegal money will face severe penalties. The guidelines make it clear that claiming ignorance will not be accepted as a defense. Courts will evaluate the knowledge and handling of funds based on transaction details and the overall context of the activities.
Significant thresholds have been set, with transactions involving over 5 million RMB in laundered funds being considered especially severe. Failure to cooperate or causing major financial harm will lead to hefty fines and possible imprisonment.
The guidelines also cover various methods of laundering money through crypto, including using it in pawn shops, risky investments, or cash concealment in retail and entertainment venues. Both individuals and organizations found guilty of such activities will face substantial fines and legal consequences.
For those who come forward and assist in recovering the laundered funds, there may be an opportunity for a reduced sentence, provided the crime is considered minor. Convictions will result in significant financial penalties, ranging from 10,000 RMB to 200,000 RMB, with the possibility of lengthy prison terms.
As the U.S. Senate debates a sweeping reconciliation package dubbed the “Big, Beautiful Bill,” crypto industry advocates are rallying behind an amendment introduced by Senator Cynthia Lummis aimed at reforming outdated and burdensome tax rules for digital assets.
In a major shift from its earlier stance, Sparkassen-Finanzgruppe — Germany’s largest banking group — is preparing to introduce cryptocurrency trading services for retail clients by the summer of 2026, according to a report from Bloomberg.
Kazakhstan is taking a major step toward integrating digital assets into its national financial strategy, with plans to establish a state-managed crypto-reserve.
Bitvavo, Europe’s largest euro-denominated spot crypto exchange, has officially received a MiCA license from the Dutch Authority for the Financial Markets (AFM), allowing the firm to operate across all 27 European Union member states.