China has made another big move against fraud and gambling gangs, sentencing two principals to six years in prison for their involvement in laundering approximately $300 million in USDT. The defendants, who were found guilty of selling USDT for cash at a low price, then shipped the cash out of the country. This crackdown comes as China continues to tighten controls on the crypto industry, with officials recently calling for a “severe crackdown” on cryptocurrency-related crimes. The country remains wary of virtual currencies, citing concerns over fraud and financial instability.
Chinese Court Sentences USDT Money Laundering Duo!
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