WuBlockchain Weekly: China Classifies "Virtual Asset" Transactions as a Form of Money Laundering, First Economic Criminal Extradited Between China and Thailand, CZ to Be Released from Prison, etc
1. Supreme Court and Prosecutor General Include “Virtual Assets” Transactions as a Form of Money Laundering link link link On August 19, the Supreme People’s Court and the Supreme People’s Procuratorate held a joint press conference to issue an interpretation on the application of law in handling criminal cases involving money laundering. The interpretation clarifies that using “virtual assets” for transactions or financial asset exchanges to transfer or convert criminal proceeds and their profits can be recognized as “concealing or disguising the origin and nature of criminal proceeds” under Article 191, Paragraph 1, Item 5 of the Criminal Law. Attorney Shao Shiwei explained that the inclusion of virtual asset transactions as a method of money laundering means that if one receives illicit funds through the sale or purchase of virtual currency, the nature of those funds will determine the crime. If the funds come from the seven predicate crimes specified in the money laundering laws,