According to Odaily Planet Daily, the Hanjiang District People's Procuratorate handled a virtual currency-related criminal case this year. Yan, Zheng, Lin, and others used USDT to establish an underground foreign exchange trading network, recruiting clients through overseas chat apps and illegally exchanging RMB for foreign currencies using "U-coins." The bank accounts involved in the case had over 13.3 billion yuan in transactions, with illegal foreign exchange transactions totaling 25.62 million yuan. They also withdrew over 478 million yuan in cash from banks in various locations to purchase "U-coins" and transfer them to the wallets of the criminals involved. Ultimately, the court sentenced 15 defendants to prison terms ranging from eight months to three years and imposed fines on charges of illegal business operations and aiding in cybercrime. (Putian Net)