Real reason for China’s war on crypto, 3AC judge’s embarrassing mistake: Asia Express
Cointelegraph
Published Aug 17, 2023 07:36PM ET
Updated Aug 17, 2023 10:40PM ET
Our weekly roundup of news from East Asia curates the industrys most important developments.
On Aug. 11, a Chinese individual known only as Mr. Chen was sentenced to nine months in prison after helping his friend, Mr. Lin, purchase 94,988 Chinese yuan ($13,104) worth of Tether (USDT) and earning a commission of 147.1 Yuan ($20.24).
Because Mr. Chen shared his personal bank information for the peer-to-peer fiat-to-crypto transaction, Chinese authorities considered the act to be money laundering and imposed a harsh sentence.
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Written By: Cointelegraph
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