Overview

• China's Supreme People's Court and Supreme People's Procuratorate have updated anti-money laundering laws to cover virtual assets.
• Cryptocurrency transactions, online game coins, and live streaming tips are now recognized as potential money laundering methods.
• Legal experts warn that the changes increase prosecution risks for crypto investors and traders in mainland China.
• The judicial interpretation introduces stricter penalties for large-scale money laundering operations involving virtual assets.
• This marks the first time virtual assets have been explicitly included in China's criminal law interpretations.