Posted on 06/15/2021 8:10:02 PM PDT by SeekAndFind
The Chinese Communist Party (CCP) on June 9 launched a nationwide campaign to prevent cross-border money laundering using virtual currencies (cryptocurrencies). This is the fifth time for such action and part of the CCP’s recent efforts to prevent capital flight and guard against financial risks.
The People’s Bank of China (PBoC), China’s central bank, said on June 1 that revisions to the Anti-Money Laundering Act were included in the legislative work plan of the Standing Committee of the National People’s Congress, and that it is soliciting public opinion before June 30. The statement stressed that revisions to the act are an inevitable requirement for preventing and controlling financial risks for China’s economy.
As early as April 23, the PBoC made a decision to “crack down on the cross-border gambling capital chain,” to stop cross-border money laundering and transfer activities using cryptocurrencies from the source.
On May 18, the CCP’s National Internet Finance Association, China Banking Association, and China Payment & Clearing Association, echoing the central bank’s decision, jointly issued a statement asking their members to “resolutely not carry out or participate in any business activities related to virtual currencies.”
The three trade associations cover almost all payment and transfer tools in China, including bank cards and rechargeable phone cards, as well as third-party payments such as Alibaba’s Alipay and Tencent’s WeChat Pay.
On May 21, the Financial Stability and Development Committee issued policies to guard against financial risks, including containing bitcoin mining and trading. The committee is the CCP’s top decision-making body on financial affairs.
To carry out a propaganda offensive supporting the crackdown policy, the party mouthpiece Xinhua News Agency published six lengthy investigative reports across 10 days that started on May 20.
(Excerpt) Read more at theepochtimes.com ...
Especially as long as Bidet and son remain out of prison...
It’s only money laundering when private citizens do it. Governments can do it at will.
Crappy paintings are the replacement for a book deal to cover for money laundering.
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