In Sep 2021, the People's Bank of China declared virtual currency-related business activities as illegal financial activities and warned that it seriously endangers the safety of people's assets. China's government banned crypto trading and mining in one of the world's most remarkable crackdowns on crypto. In parallel with the Chinese crypto ban, the number of companies being set up by Chinese in the UK exploded, as a statistic by the UK money laundering expert Graham Barrow shows.