China Supreme Court Expands Crackdown to Crypto-Related Money Laundering Networks

• China’s court to crack down on crypto, underground banks in fraud laundering.
• Chinese-language laundering networks moved $16.1 billion in crypto in 2025.
• Recently, the 2021 crypto trading ban was reaffirmed, with strict limits on stablecoin issuance.

On February 26, China’s Supreme People’s Court said its next enforcement phase will target crimes involving virtual currencies and underground banks used for money laundering.

Wang Bin, president of the Third Criminal Tribunal, made the statement at a press conference focused on telecom fraud and financial abuse cases.

The court will prioritize ringleaders, core members of fraud groups, financial backers, illegal immigration organizers, and groups providing armed protection for cross-border cybercrime.

Virtual currency channels are now explicitly named as part of the laundering chain. The court also confirmed…

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