{"id":271585,"date":"2021-06-10T17:14:24","date_gmt":"2021-06-10T14:14:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-arrests-1100-crypto-users-on-money-laundering-charges\/"},"modified":"2021-06-10T17:14:24","modified_gmt":"2021-06-10T14:14:24","slug":"china-arrests-1100-crypto-users-on-money-laundering-charges","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-arrests-1100-crypto-users-on-money-laundering-charges\/","title":{"rendered":"#China arrests 1,100 crypto users on money laundering charges"},"content":{"rendered":"

“#China arrests 1,100 crypto users on money laundering charges<\/strong>”
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China\u2019s crackdown on cryptocurrencies is heating up with a series<\/a> of arrests that suggest digital currency users can be traced. <\/p>\n

More than 1,100 people who allegedly used cryptocurrencies to launder profits from frauds were arrested Wednesday, the country\u2019s Ministry of Public Security said in a statement<\/a>.\u00a0<\/p>\n

The busts involved 170 criminal groups who authorities say hired \u201ccoin farmers\u201d to open crypto accounts after bank accounts they used for their alleged scams had been seized. <\/p>\n

\u201cThe high illegal income attracts a large number of people to participate, causing serious social<\/a> harm,\u201d the ministry said of the alleged plots.<\/p>\n

The arrests may cast further doubt on the supposed un-traceability of cryptocurrencies. On Tuesday, the price of bitcoin fell almost 12 percent after it was revealed that US authorities were able to reclaim most of a bitcoin ransom that Colonial Pipeline paid to hacker group DarkSide in May.\u00a0<\/p>\n

\u201cCriminals have been using bitcoin because of the supposed inability of governments to get at it,\u201d Anthony Denier, CEO of trading platform Webull, told the Post on Tuesday. \u201cIf governments can claw it back, that hurts its app<\/a>eal.\u201d\u00a0<\/p>\n

Wednesday\u2019s arrests are part of a broader Chinese crackdown on crypto. They come less than a month after the government called for greater regulation of digital currencies.<\/p>\n

A committee presided over by a member of China\u2019s Politburo wrote in May that it is necessary to \u201ccrack down on bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field.\u201d\u00a0<\/p>\n

Worries about bitcoin\u2019s traceability and the looming threat of government regulations have sent the cryptocurrency plummeting from its peak of more than $63,000 in April. Bitcoin was trading at about $37,600 Thursday morning.\u00a0<\/p>\n

Additional reporting by Will Feuer<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#China arrests 1,100 crypto users on money laundering charges” China\u2019s crackdown on cryptocurrencies is heating up with a series of arrests that suggest digital currency users can be traced. More than 1,100 people who allegedly used cryptocurrencies to launder profits from frauds were arrested Wednesday, the country\u2019s Ministry of Public Security said in a statement.\u00a0…<\/p>\n","protected":false},"author":1,"featured_media":271586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/china-crypto-coins-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,108888,91267,4973,76127,33897],"class_list":["post-271585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-10-21","tag-bitcoins","tag-china","tag-cryptocurrency","tag-money-laundering"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/271585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=271585"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/271585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/271586"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=271585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=271585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=271585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}