{"id":83102,"date":"2023-08-15T17:43:22","date_gmt":"2023-08-15T14:43:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83102"},"modified":"2025-09-12T08:58:31","modified_gmt":"2025-09-12T05:58:31","slug":"chinese-citizen-jailed-for-nine-months-over-usdt-purchase","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/chinese-citizen-jailed-for-nine-months-over-usdt-purchase\/","title":{"rendered":"Chinese citizen jailed for nine months over USDT purchase"},"content":{"rendered":"

A Chinese citizen, identified by authorities as “Mr. Chen,” was sentenced to nine months in prison for purchasing USDT worth 94,988 yuan (just over $13,000). Local media reported \u043c\u0435\u0441\u0442\u043d\u044b\u0435 \u0421\u041c\u0418<\/a>.<\/p>\n

According to the prosecutors, in February 2022, his acquaintance surnamed Lin contacted Chen with a request to procure stablecoins for him, transferring fiat for these purposes.<\/p>\n

For his services the defendant received 147.1 yuan ($20.26) as a commission.<\/p>\n

\n

“Criminals use virtual currency to transfer and launder stolen funds. The purchase of virtual currency, given that others use the internet to commit crimes, is a violation of the law,” the prosecutors noted.<\/p>\n<\/blockquote>\n

Chen will serve nine months in prison with a one-year suspended sentence. He must also pay a fine of 5,000 yuan ($689).<\/p>\n

In September 2021, the People’s Bank of China, in a joint statement with nine state agencies, classified cryptocurrency operations as illegal financial activity<\/a>.<\/p>\n

In February 2022, China tightened<\/a> criminal liability for illicit fundraising in digital assets. At the same time, the Shanghai High Court recognised Bitcoin as a virtual asset<\/a> with economic value protected by law.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Chinese citizen was sentenced to nine months in prison for purchasing USDT worth 94,988 yuan (just over $13,000).<\/p>\n","protected":false},"author":1,"featured_media":83103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1412,133,1162,1245],"class_list":["post-83102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bans-and-restrictions","tag-china","tag-court-cases","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83102"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83102\/revisions"}],"predecessor-version":[{"id":83104,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83102\/revisions\/83104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83103"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}