Is it illegal to exchange USDT in the country?
First, let's look at some cases:
1. Wuhan police cracked a money laundering case using virtual currency: Under the guidance of the Wuhan Public Security Bureau, the Qingshan police successfully dismantled a criminal group that used USDT virtual currency to help an overseas fraud group launder money, arresting 6 suspects involved and involving an amount exceeding 6 million yuan.
2. Jiangsu Nantong court hears a virtual currency money laundering case: The People's Court of Tongzhou District, Nantong City, Jiangsu Province publicly heard a case of concealing and disguising criminal proceeds. The defendant conducted USDT virtual currency transactions through the OKEx platform to help fraudsters transfer funds, with an amount involved exceeding 380,000 yuan.
Now, let's look at the judicial interpretation from the Supreme Court: On August 19, 2024, the Supreme People's Court and the Supreme People's Procuratorate jointly issued a judicial interpretation, clearly listing transactions involving "virtual assets" as one of the methods of money laundering, further strengthening the crackdown on crimes related to virtual currency.
When it comes to deposits and withdrawals, be extremely cautious!!!
Otherwise, it might be confiscated!!!