Supreme People's Procuratorate Releases Regulatory Response Plan for Money Laundering Involving Virtual Currencies

The People's Procuratorate of Yuhu District, Xiangtan City, Hunan Province, in collaboration with researchers from the Law School of Xiangtan University, has published a systematic response plan addressing the regulatory challenges of money laundering crimes involving virtual currencies. The article points out that current judicial practices face three major dilemmas: first, Article 191 of the Criminal Law limits money laundering offenses to seven types of upstream crimes, resulting in many cases being handled only as "concealment offenses"; second, methods such as mixing services, privacy coins, and cross-chain transfers fragment the evidence chain, making it difficult for traditional investigative methods to penetrate effectively; third, conflicts in the legal attributes of virtual currencies, a vacuum in procedural rules, and barriers to cross-border cooperation create difficulties in asset recovery and enforcement. To address these issues, the article suggests promoting "dual investigations for a single case," establishing a self-authentication principle for blockchain data, constructing a tiered standard of proof, and creating a national-level custody and disposal platform for involved virtual currencies, while also advocating for the signing of a special agreement on international criminal judicial assistance for virtual currency crimes.

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