The Supreme People’s Court of China has sentenced three individuals for laundering illicit funds through crypto transactions, marking a significant legal step in combating crypto-related crime.
China's Supreme People’s Court and Supreme People’s Procuratorate have published a case where three defendants laundered over ¥500,000 through cryptocurrency transactions, helping telecom fraud criminals transfer funds. The court sentenced them to prison terms ranging from two years eight months to three years three months and imposed fines between ¥30,000 and ¥40,000. The verdict is now legally effective without appeal.