China has intensified its crackdown on crypto-related activities since the start of the year.
Highlights
- An individual, identified only as “Mr.
- Chen,” has been convicted by the Fuzhou Mawei People’s Procuratorate on charges of “offense of concealment and concealment of crime” for purchasing 94,988 Chinese yuan ($13,067) worth of Tether (USDT) for an acquaintance.
- Mr.
- Chen was sentenced to nine months in prison, deferred for a period of one year, along with a fine of 5,000 yuan ($689) China has intensified its crackdown on crypto-related activities since the start of the year.
- In July, the Multichain protocol was shut down by Chinese police after the arrest of its CEO.
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