- The UK government said it has added ‘Xinbi’—which supported an illicit crypto market worth about $20 billion—to its sanctions list.
- The sanctions fully prohibit Xinbi-related transactions and investments by individuals, financial institutions, and crypto firms in the UK.
- Chainalysis estimated that Xinbi processed about $19.9 billion in illicit funds from 2021 to 2025, saying the move targets the on- and off-ramps for large-scale fraud.
Forecast Trend Report by Period
The UK government has moved to impose sanctions on an illicit virtual-asset (cryptocurrency) market worth about $20 billion (approximately 27 trillion won), aiming to sever its links to the…
