TechFlow News, May 11: The Gulou District People’s Court of Fuzhou City recently disclosed that a dispute case—where RMB was exchanged for USDT and transferred to overseas trading platforms for foreign exchange investment—has been dismissed and referred to public security authorities for handling due to suspected economic crimes; the second-instance court upheld the original ruling. According to the case details, between October 2023 and April 2024, Chen transferred a total of RMB 480,000 to Liu for so-called foreign exchange wealth management investments. The court held that this model forms a closed loop of “RMB-to-USDT exchange, cross-border fund transfer, and foreign exchange trading,” constituting de facto foreign exchange trading, thereby涉嫌 disrupting economic and financial order and harming public interest.
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