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China Sentences Five to Prison for $166 Million in Illegal USDT Transactions
ByAinvest
Wednesday, Oct 29, 2025 4:14 am ET1min read
Five individuals have been sentenced to prison in China for conducting over $166 million worth of USDT transactions, bypassing the country's strict forex controls. The court ruled that the transactions violated China's Anti-Money Laundering Law and Foreign Exchange Administration Regulations. The ruling reflects China's continued crackdown on crypto use, despite some mainland firms expanding into Hong Kong's more permissive framework.
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