"Thousands of cryptocurrency over-the-counter merchants and their clients may have been affected as police in China freeze bank accounts over crypto and fiat assets tainted by illicit activity.
Caught up in a police probe since Thursday, some Chinese crypto buyers and sellers and OTC market makers have already had accounts frozen because their transactions may have been contaminated by money-laundering activities involving cryptocurrencies.
Sun Xiaoxiao, a former staffer at Chinese crypto wallet startup Bixin who now runs an OTC desk, wrote in a Weibo post on Friday his bank accounts had been frozen and it was not an individual case. The action, taken by the police in China’s Guangdong province, potentially impacts “several thousand people,” he said."
https://www.coindesk.com/china-police-freeze-otc-traders-bank-accounts-tainted-crypto
Caught up in a police probe since Thursday, some Chinese crypto buyers and sellers and OTC market makers have already had accounts frozen because their transactions may have been contaminated by money-laundering activities involving cryptocurrencies.
Sun Xiaoxiao, a former staffer at Chinese crypto wallet startup Bixin who now runs an OTC desk, wrote in a Weibo post on Friday his bank accounts had been frozen and it was not an individual case. The action, taken by the police in China’s Guangdong province, potentially impacts “several thousand people,” he said."
https://www.coindesk.com/china-police-freeze-otc-traders-bank-accounts-tainted-crypto