- China’s Supreme Court issued a warning in its annual work report on March 9.
- Courts will crack down on people who use virtual currencies to launder money or evade capital controls.
- It’s part of a broader push against abuses from AI and emerging technologies.
China’s Supreme People’s Court has pledged harsher penalties for individuals and organisations using cryptocurrency to launder money and illegally transfer funds across borders.
Chief Justice Zhang Jun issued the warning during the court’s annual work report to the National People’s Congress on Monday, according to local media outlet Sina Finance.
The announcement comes as Chinese courts handle a rising wave of technology-enabled crimes, from artificial intelligence-powered…
