The post Chinese Court Convicts 17 for USDT Money Laundering appeared on BitcoinEthereumNews.com. Key Points: Seventeen people convicted for USDT money laundering in China. Over 13.3 billion RMB laundered illicitly. No regulatory change or impact on crypto market noted. On September 5, 2025, Fujian’s Hanjiang District People’s Court convicted 18 individuals, including Yan, Zheng, and Lin, for operating an illegal foreign exchange network using USDT. The ruling highlights China’s strict stance on cryptocurrency misuse and has implications for USDT’s regulatory scrutiny without impacting broader crypto markets like BTC or ETH. Chinese Crackdown on Illicit USDT Operations The conviction in Fujian arises from an intricate scheme involving USDT to conduct over 13.3 billion RMB of illegal exchanges. The defendants, including Yan, Zheng, and Lin, faced allegations of using offshore networks to launder money. An elaborate investigation confirmed their actions, leading to prison sentences ranging from 8 months to 3 years. The large-scale laundering via USDT emphasizes China’s efforts in clamping down on illicit financial activities. The court identified the use of “U coins” as central to facilitating exchanges, which illegally converted RMB to foreign currency. The actions resulted in substantial illicit financial flows, affecting Chinese regulatory objectives. There are no quotes available from key players, industry leaders, or experts in the cryptocurrency space related to the case described. The summary indicates that there were no official statements or reactions from notable figures or organizations regarding the convictions in Fujian, China, on September 5, 2025. Crypto Market Holds Steady Amid Laundering Case Did you know? China’s latest sentencing for USDT-linked financial crimes mirrors earlier cases from as far back as 2017, underscoring persistent regulatory challenges in curbing underground exchange activities. Data from CoinMarketCap indicates Tether USDt (USDT) maintains a price stability of $1.00 with a market cap of $168.35 billion and market dominance of 4.4%. Despite the 8.25% decline in its 24-hour trading volume to… The post Chinese Court Convicts 17 for USDT Money Laundering appeared on BitcoinEthereumNews.com. Key Points: Seventeen people convicted for USDT money laundering in China. Over 13.3 billion RMB laundered illicitly. No regulatory change or impact on crypto market noted. On September 5, 2025, Fujian’s Hanjiang District People’s Court convicted 18 individuals, including Yan, Zheng, and Lin, for operating an illegal foreign exchange network using USDT. The ruling highlights China’s strict stance on cryptocurrency misuse and has implications for USDT’s regulatory scrutiny without impacting broader crypto markets like BTC or ETH. Chinese Crackdown on Illicit USDT Operations The conviction in Fujian arises from an intricate scheme involving USDT to conduct over 13.3 billion RMB of illegal exchanges. The defendants, including Yan, Zheng, and Lin, faced allegations of using offshore networks to launder money. An elaborate investigation confirmed their actions, leading to prison sentences ranging from 8 months to 3 years. The large-scale laundering via USDT emphasizes China’s efforts in clamping down on illicit financial activities. The court identified the use of “U coins” as central to facilitating exchanges, which illegally converted RMB to foreign currency. The actions resulted in substantial illicit financial flows, affecting Chinese regulatory objectives. There are no quotes available from key players, industry leaders, or experts in the cryptocurrency space related to the case described. The summary indicates that there were no official statements or reactions from notable figures or organizations regarding the convictions in Fujian, China, on September 5, 2025. Crypto Market Holds Steady Amid Laundering Case Did you know? China’s latest sentencing for USDT-linked financial crimes mirrors earlier cases from as far back as 2017, underscoring persistent regulatory challenges in curbing underground exchange activities. Data from CoinMarketCap indicates Tether USDt (USDT) maintains a price stability of $1.00 with a market cap of $168.35 billion and market dominance of 4.4%. Despite the 8.25% decline in its 24-hour trading volume to…