China's prosecutors have cracked down on cryptocurrency laundering tactics, sentencing five individuals in Shanghai for operating an illegal foreign exchange scheme.
The Jing'an District People's Procuratorate announced that the five people were sentenced on June 29, 2026, for using Real World Assets (RWA) to facilitate their illicit activities.
This move is part of China's ongoing efforts to regulate and monitor cryptocurrency transactions within its borders. The country has been cracking down on illegal financial activities in recent years.