Deep Tide TechFlow News, May 11 — The People's Court of Gulou District, Fuzhou City recently disclosed that a dispute case involving converting Renminbi into USDT and transferring it to overseas trading platforms for foreign exchange investment has been dismissed due to suspected economic crimes and has been transferred to public security authorities for handling, with the original ruling upheld in the second instance.


The case shows that Chen transferred a total of 480k yuan to Liu from October 2023 to April 2024 for so-called foreign exchange financial investment.
The court believes that this model forms a closed loop of "Renminbi to USDT, cross-border transfer, buying and selling foreign exchange," which is a disguised form of foreign exchange trading, suspected of disrupting economic and financial order and damaging social public interests.
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