Chinese money launderers ‘increasingly incorporating crypto,’ new report says – DL News
- Crypto is a major vehicle for Chinese money laundering schemes.
- Criminals are using crypto to fuel the fentanyl drug trade.
- Crypto crime losses hit record levels in 2025.
While the Chinese government has spent years enforcing strict capital controls, the country’s money launderers have spent those same years devising means of subverting such restrictions, including the use of Bitcoin and other cryptocurrencies.
In a recent paper, Kathryn Westmore, senior research fellow at the Centre for Finance and Security, Royal Services Institute, argued that cryptocurrencies play a major part in the Chinese money laundering business model, despite Beijing’s formal hostility to digital assets.
“Increasingly, [Chinese Money Laundering Organisations]…
