Executive Director of Anti-Money Laundering Research Center: Money Laundering through Virtual Assets is Gradually Becoming a Mainstream Trend

Techflow, a financial and research platform, reports that the State Council's executive meeting has made significant progress in discussing the "Anti-Money Laundering Law (Draft Amendment)". Wang Xin, a professor at Peking University Law School and an expert involved in the discussion of the draft amendment, stated that the amendment is expected to be passed by 2025. Yan Lixin, Executive Director of the China Anti-Money Laundering Research Center at Fudan University, stated that "the most important, urgent, and necessary issue that needs to be addressed at the legal level is money laundering involving virtual assets." The use of cryptocurrencies and virtual assets for money laundering is gradually becoming a mainstream trend, but there is a lack of clear definition in Chinese law regarding the essence and scope of virtual assets.