China rules all crypto illegal, page-11

March 19, 2021, the Supreme People’s Procuratorate and the People’s Bank of China jointly pointed out that the use of virtual currency cross-border exchange to convert criminal proceeds and proceeds into overseas legal currency or property is a new means of money laundering crime. The virtual currency crime represented by Bitcoin has become the focus of China's financial regulatory and judicial departments. The statistics of the "2020 Annual Virtual Currency Anti-Money Laundering Report" released by the blockchain security company PeckShield show that in 2020, China have 17.5 billion U.S. dollars exported overseas through unregulated cross-border virtual currency transactions.