TechFlow news, July 30 — According to China Central Television, the Supreme People's Court released typical cases of elevated jurisdiction. The Leshan Intermediate Court in Sichuan province upgraded and tried a case involving illegal foreign exchange trading using USDT. Between 2020 and 2021, Wan Mouyuan and others conducted illegal foreign exchange transactions through a "RMB—USDT—USD" method, involving over 234 million yuan. The court ruled that they were guilty of illegal business operations. The principal offender, Wan Mouyuan, was sentenced to 13 years and six months in prison, along with a fine of 1.14 million yuan; other defendants were also sentenced.
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