China’s Ministry of State Security has accused overseas forces of using cryptocurrencies for espionage and money laundering, while also stressing that crypto is not anonymous. In the same update window, separate data showed Singapore’s crypto economy grew 55.4% against the trend to reach $284 billion. The figure kept Singapore in the top spot across the region. The two developments were presented together in a ChainCatcher newsflash, highlighting a contrast between Beijing’s security-focused messaging and Singapore’s continued expansion in the digital asset sector. No further details were provided in the brief on the specific cases cited by the ministry or the underlying breakdown behind Singapore’s growth figure.
According to ChainCatcher, China’s Ministry of State Security said cryptocurrencies have been used by overseas forces for espionage and money laundering, and added that crypto is not anonymous.
Data from the same period showed that Singapore’s crypto economy grew 55.4% against the trend to reach $284 billion, keeping its lead in the region.
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