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UK sanctions Xinbi over $19.9B illicit crypto flows, restrictions start March 26, 2026
The UK Foreign, Commonwealth & Development Office sanctioned Xinbi on March 26, 2026, a Chinese-language crypto guarantee marketplace accused of processing $19.9 billion in illicit crypto flows from 2021 to 2025. The move freezes any UK-linked assets and bans UK banks, crypto firms, and individuals from dealing with the platform, also naming Thet Li, Hu Xiaowei, and Cambodia-based entities tied to the #8 Park scam compound.