Kathryn Westmore, a senior research fellow at the Centre for Finance and Security, stated today that Chinese-linked money-laundering groups are “increasingly integrating crypto rails” into their operations, according to a newly published report. The document notes that virtual assets such as Bitcoin and USDT are now part of cross-border settlement schemes despite China’s long-standing capital controls.
The report explains that these networks use crypto to streamline transfers between domestic cash collectors and overseas partners. Analysts emphasize that the trend reflects crypto’s speed, liquidity, and resilience to traditional financial bottlenecks, rather than a rise in crypto-native crime. Independent data from Chainalysis and Elliptic confirms recurring on-chain activity involving chemical suppliers and informal remittance brokers, suggesting a broader structural shift rather than isolated cases.
Westmore added that agencies in the US, Europe, and Asia are preparing coordinated updates in the coming weeks. Authorities expect further disclosures as blockchain-analytics firms publish their 2025 risk assessments.
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