News Snapshot:
The gang are said to have used various different cryptocurrency trading accounts to convert the money back into Chinese yuan. Starting from May 2021, the criminal gang allegedly used the proceeds from illicit sources including pyramid schemes, fraud and gambling and converted it into the cryptocurrency tether, a stablecoin that is pegged one-to-one with the U.S. dollar , the Public Security Bureau of Inner Mongolia's Tongliao city in northern China, said in a statement over the weekend. Police in China arrested 63 people accused of laundering as much as 12 billion Chinese yuan ($1.7 billion) via cryptocurrency, amid Beijing's intense...
