Sichuan court hears case of using virtual currency to resell foreign exchange, involving over 200 million yuan

According to Odaily Planet Daily, the Supreme People's Court released a typical case, revealing that the Leshan Intermediate People's Court in Sichuan Province has escalated a case involving illegal foreign exchange trading using USDT. Between 2020 and 2021, Wan Mouyuan and others illegally traded foreign exchange using the "RMB-USDT-USD" method, involving over 234 million yuan. The court found them guilty of illegal business operations. The principal offender, Wan Mouyuan, was sentenced to 13 years and 6 months in prison and fined 1.14 million yuan. Other defendants were also sentenced. (Red Star News)