Thousand Chinese arrested for cryptocurrent operations

The Chinese police arrested more than a thousand people. They are suspected of using cryptocurrency operations for laundering money obtained as a result of criminal activity, writes Reuters.

It is mainly about the money received during phone and Internet fraud. The members of 170 criminal groups were arrested. They for the commission of 1.5-5 percent translated money into digital currency through cryptocurrency exchanges.

Previously, the authorities of the Xinjiang-Uygur Autonomous Okrug of China demanded from June 9 to stop the miners. In May, the PRC authorities declared the need to combat mining and cryptotrading and called for toughening the regulation of the sphere.

Because of this, the Cryptovatomy and Hashcow are ceased to work in the country. Huobi’s Huobi Exchange Exchange also announced the suspension of the production of digital currency and customer service from mainland China.

/Media reports.