New court rulings help quantify the scale of Tether-based money laundering in China
March 17, 2021, 5:07PM EDT · 3 min read
- China has convicted nearly 100 people since November 2020 for knowingly using USDT to launder over $30 million through OTC desks.
- The convictions are part of a broader crackdown on illegal internet-based money-making schemes — one that has had a chilling effect on China’s crypto OTC market.
China has convicted nearly 100 people since November 2020 for knowingly laundering at least $30 million using USDT purchased from OTC desks.
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