China formalizes crypto crackdown, police seize $1.7 billion in Tether laundering case

🚨 China formalizes crypto crackdown as police seize $1.7 billion in $USDT laundering case.
🚓 Authorities arrested 63 suspects linked to a Tether-based money laundering network.
📉 Central bank bans most yuan stablecoins and real-world asset tokenization.
🇨🇳 Despite the ban, crypto laundering networks in China handle billions each year.

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