The UK government has announced sanctions against the cryptocurrency exchange platform Xinbi, accusing it of providing money laundering support to telecom scam hubs located in Southeast Asia. This move is part of the UK's efforts to combat global organized crime networks. Xinbi is alleged to have assisted criminals in converting illegal proceeds obtained through schemes like 'pig-butchering scams' into cryptocurrency. Under the sanctions, UK entities are prohibited from conducting any transactions with the platform, and its assets in the UK will be frozen. (TheBlock) http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=58682