Beijing Court Sentences Five Over $166M Crypto FX Scheme

TLDR: Beijing court sentences five for using USDT to transfer over $166M across borders illegally. Illegal foreign exchange using crypto totaled more than RMB 1.182 billion, court documents show. Defendants pleaded guilty and accepted sentences of two to four years and fines. Procuratorate used cross-border data tracing and crypto transaction analysis to secure evidence. Beijing [...]

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