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Shanghai Court Clarifies Legal Liability for Crypto-Linked Fraud Promoters
The Shanghai First Intermediate People's Court has issued a landmark ruling regarding the legal classification of "traffic attracters" involved in virtual currency-related telecommunications fraud. The court clarified t…
Guizhou Man Sentenced to Prison Over Fraudulent Crypto Airdrop
A local court in the Pingba District of Anshun City, Guizhou, has sentenced a man to seven months in prison following a fraudulent scheme involving a fake virtual currency "airdrop project." The defendant, identified as…
New Staking Mining Scam Defrauds Over 30 Investors of 3 Million Yuan
Law enforcement authorities have uncovered a sophisticated fraudulent scheme involving virtual currency "staking mining" that has targeted over 30 individuals across various regions. The perpetrators utilized long-term …
PBOC Shanghai Office Heightens Scrutiny on Crypto Trading Risks
The People's Bank of China (PBOC) Shanghai Head Office has reaffirmed its commitment to maintaining financial stability by intensifying its crackdown on virtual currency trading and speculation. During its work conferen…
Virtual Currency Emerges as Recoverable Asset in Zou Shiming Debt Case
A recent investigative report by Caixin.com titled "The Boxer King's Collapsed Balance Sheet" has highlighted a significant shift in asset recovery within the Chinese legal landscape. As the financial liabilities of Oly…
Procuratorate Daily Calls for New Legal Framework for Crypto Laundering
The Procuratorate Daily has published a comprehensive analysis titled "Systematically Solving the Dilemma of Criminal Legal Regulation for Money Laundering Using Virtual Currency", highlighting the urgent need for judic…
China Boosts Anti-Money Laundering Measures for Virtual Currencies
The People's Bank of China (PBoC) has announced a significant escalation in its efforts to combat financial crimes involving virtual currencies and cross-border money laundering. During a recent statement, Xuan Changnen…
Mainland Investor Arrested in Hong Kong After Heavy Crypto Losses
Hong Kong law enforcement authorities intercepted a 34-year-old man from mainland China on May 14, 2026, following his public declarations of intent to commit suicide due to significant financial losses in the virtual c…
Zhejiang Police Uncover 35 Million Yuan Metaverse Token Fraud Case
Authorities in Taizhou, Zhejiang province, have successfully dismantled a sophisticated fraudulent scheme operating under the guise of Metaverse technology and virtual currency investments. The criminal syndicate manage…
China's People's Daily Warns Against Fraudulent Crypto Promotions
The People’s Daily, the flagship newspaper of the Central Committee of the Communist Party of China, has issued a formal warning against the rise of irregular financial self-media accounts that promote high-risk cryptoc…