Monday, July 4, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Cryptocurrencies

China arrests 1,100 over cryptocurrency money laundering

MtR by MtR
June 10, 2021
in Cryptocurrencies
0
China arrests 1,100 over cryptocurrency money laundering


Issued on: 10/06/2021 – 09:24

Beijing (AFP)

China has arrested more than a thousand people for using the profits from crime to buy cryptocurrencies, security officials said, as part of a growing crackdown on the industry.

The country’s bitcoin mines power nearly 80 percent of the global trade in cryptocurrencies, although trading in China is banned.

Officials have started to turn a sharp eye towards cryptocurrency miners to prevent speculation and stamp out money laundering.

Chinese police busted a network of 1,100 people involved in laundering money by buying cryptocurrencies, the ministry of public security said in a statement dated Wednesday.

The launderers charged clients commission to convert illegal proceeds into virtual currencies via crypto exchanges, the ministry said, without outlining the amount of money involved.

China banned trading in cryptocurrencies in 2019 and is increasingly tightening restrictions on bitcoin mining.

In April, the northern region of Inner Mongolia closed down all its cryptocurrency mines, claiming they failed to meet annual energy consumption targets.

The region accounted for eight percent of the computing power needed to run the global blockchain — a set of online ledgers to record bitcoin transactions.

That is higher than the amount of computing power dedicated to blockchain in the entire United States.

The northwestern province of Qinghai announced a similar ban on cryptocurrency mining on Wednesday, but no data is available about the size of the operations in the region.

Bitcoin values tumbled in May on the back of a warning by Beijing to investors against speculative trading in cryptocurrencies.

China is in the midst of a wide-ranging regulatory crackdown on its fintech sector, whose biggest players have been hit with large fines after being found guilty of monopolistic practices.

© 2021 AFP



Source link

Related articles

4 men convert duped money into cryptocurrency to hide trail, held

July 3, 2022

Cryptocurrency Market: Crypto week at glance: Volatility jolts crypto markets, BTC below $20k

July 3, 2022

Related Posts

4 men convert duped money into cryptocurrency to hide trail, held

by MtR
July 3, 2022
0

Four men were arrested from Rajasthan’s Chittorgarh for allegedly cheating people on the pretext of securing online loans and converting...

Cryptocurrency Market: Crypto week at glance: Volatility jolts crypto markets, BTC below $20k

by MtR
July 3, 2022
0

The cryptocurrency industry is living up to its legendary volatility. After making a more than 20 per cent recovery from...

Explained: Who is ‘cryptoqueen’ Ruja Ignatova, now among FBI’s ten most wanted?

by MtR
July 3, 2022
0

Dr Ruja Ignatova, the self-styled ‘cryptoqueen’, who allegedly led one of the world’s biggest cryptocurrency scams, is now on the...

Cryptocurrency market cap goes up to $870.81 billion

by MtR
July 3, 2022
0

The market capitalization of all cryptocurrencies is $870.81 billion, up 0.77 percent from yesterday. The entire volume of the cryptocurrency...

Five reasons bitcoin had its worst quarter in more than a decade

by MtR
July 3, 2022
0

Bitcoin just had its worst quarter since 2011 and its worst month on record. The world’s largest cryptocurrency lost about...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Your queries: Mutual Funds | Children’s funds invest in a mix of equity and debt

July 3, 2022

5 assets investors are buying in the dip: From commodities to ETFs

July 3, 2022

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Record Breakers: Four key commodity predictions from Canberra’s pen-pushers

July 3, 2022

Recent News

Your queries: Mutual Funds | Children’s funds invest in a mix of equity and debt

July 3, 2022

5 assets investors are buying in the dip: From commodities to ETFs

July 3, 2022

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter