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Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened

Police in China arrested 63 people accused of laundering ¥12 billion ($1.72 billion) via crypto. The Public Security Bureau of Inner Mongolia’s Tongliao city in northern China stated that starting from May 2021, this cri...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened
Police in China arrested 63 people accused of laundering ¥12 billion ($1.72 billion) via crypto.
The Public Security Bureau of Inner Mongolia’s Tongliao city in northern China stated that starting from May 2021, this criminal group converted the proceeds from illicit sources – including pyramid schemes, fraud, and gambling - into the major stablecoin Tether (USDT)....
Read More: Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened

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This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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