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illegal usdt exchange case
Key Points:* Leshan Court convicts Wan Mouyuan for illegal USDT exchanges in China.
Leshan Court Convicts Major Crypto Offender
Leshan Intermediate Court’s decision to convict several individuals, including principal offender Wan Mouyuan, highlights the court’s focus on illegal foreign exchange via USDT. The scheme involving RMB, USDT, and USD amounted to over 234 million yuan.
The case involving over 234 million yuan in illegal foreign exchange activities is noted for clarifying the legal stance on crypto-related financial crimes in China.
While market reactions have been limited, this case aligns with China’s aggressive crackdown on crypto-facilitated financial crimes. Official statements emphasize the growing importance of legal conformity in cryptocurrency operations.
USDT’s Role in Illicit Transactions Under Scrutiny
Did you know? The use of USDT in illegal cross-border transactions has previously led to numerous financial crime convictions, underlining its role in facilitating swift fund transfers outside traditional banking.
Based on CoinMarketCap data, Tether USDt (USDT) remains steady at $1.00 with a market cap of 163.80 billion. Despite minimal fluctuations over the past months, USDT’s 24-hour trading volume reached 110.46 billion USD.
| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |