【Breaking】Hong Kong police bust cryptocurrency money-laundering syndicate and arrest 22; HK$150 million involved over 3 months
According to a report by Hong Kong media outlet Ming Pao, Hong Kong police have busted a cross-border criminal syndicate that laundered money through over-the-counter (OTC) virtual currency channels and arrested 22 people, including 21 men and 1 woman, aged between 21 and 54. The police investigation found that the syndicate had been active since August this year, recruiting people from mainland China to come to Hong Kong to open nominee bank accounts and withdraw cash proceeds from crime, then transferring the funds to virtual currency OTC shops operated by the syndicate to launder them through methods such as trading virtual currencies. Police estimate that the amount of money laundered by the syndicate between August and October this year alone exceeded HK$150 million.
My take: I treat regulatory news as bearish in the short term. My advice is not to rush to buy the dip before the dust settles and the penalty amount is confirmed.
#快讯 $BTC $KTZ
According to a report by Hong Kong media outlet Ming Pao, Hong Kong police have busted a cross-border criminal syndicate that laundered money through over-the-counter (OTC) virtual currency channels and arrested 22 people, including 21 men and 1 woman, aged between 21 and 54. The police investigation found that the syndicate had been active since August this year, recruiting people from mainland China to come to Hong Kong to open nominee bank accounts and withdraw cash proceeds from crime, then transferring the funds to virtual currency OTC shops operated by the syndicate to launder them through methods such as trading virtual currencies. Police estimate that the amount of money laundered by the syndicate between August and October this year alone exceeded HK$150 million.
My take: I treat regulatory news as bearish in the short term. My advice is not to rush to buy the dip before the dust settles and the penalty amount is confirmed.
#快讯 $BTC $KTZ
