China’s State Administration of Foreign Exchange Cracks Down on $2.2 Billion Crypto Exchange Ring

Tag : bitcoin
Tag : bitcoin official
China's State Administration of Foreign Exchange Cracks Down on $2.2 billion Crypto Exchange Ring The Chinese State Administration of Foreign Exchange (SAFE) has cracked down on an underground bank that used crypto to offer illegal exchange services. The operation, which had over 1,000 bank accounts and a presence in 17 provinces, moved over 15.8 billion yuan ($2.2 billion) to purchase crypto on exchanges overseas and provide yuan exchanging services. […]
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