The People's Bank of China is set to intensify its crackdown on money laundering activities involving virtual currencies and cross-border transactions. Deputy Governor Xuan Changneng highlighted that since the "14th Five-Year Plan," China has revised its Anti-Money Laundering Law and improved regulatory frameworks to address risks from new technologies and business models. A comprehensive anti-money laundering system has been established, involving financial institutions and designated non-financial sectors. Since 2022, a coordinated effort by 11 departments, including the central bank and the Ministry of Public Security, has led to over 2,000 money laundering convictions by 2025. As part of the "15th Five-Year Plan," China aims to enhance domestic regulatory coordination and international cooperation to combat money laundering crimes effectively.