China Busts $20 Million Bitcoin Laundering Ring Tied to TikTok-Style App

Chinese authorities dismantled a Bitcoin (BTC) laundering operation involving employees of Kuaishou, the country’s second-largest TikTok-style video-sharing platform. China remains one of the most stringent regulatory environments for cryptocurrencies globally. Its near-total ban is driven by concerns over financial stability, capital flight, crime, and environmental impact. Kuaishou Employees Imprisoned for $20 Million Bitcoin Scheme The Haidian District People’s Procuratorate in Beijing reported that company insiders embezzled nearly 140 million yuan (around $20 million) source: https://beincrypto.com/china-busts-bitcoin-laundering-ring-tiktok-app/