[CCTV Finance: Central Bank Collaborates with Public Security Authorities to Crack Down on New Underground Banks Laundering Money via Virtual Currency] According to CCTV Finance, the People's Bank of China and public security authorities have jointly uncovered a series of cases involving new underground banks using virtual currency for money laundering. Criminal groups, under the guise of offering "free credit card repayment services," developed agents across multiple provinces, luring individuals into providing ID and credit card information to facilitate money laundering for overseas online gambling and telecom fraud groups. Funds were recorded as fictitious consumption, then converted into virtual currency by coin dealers and transferred to designated addresses abroad. The Central Bank's Digital Currency Research Institute utilized large-scale models and on-chain analysis systems to trace and identify nearly a thousand accounts involved in the cases, assisting law enforcement in conducting simultaneous operations across multiple locations. Over 10 money laundering and "point-running" dens were dismantled, with approximately 130 million yuan in illegal proceeds confiscated. Several members of the criminal groups were sentenced for crimes such as illegal business operations.