China has harshly enforced its crypto ban since the start of the year, cracking down on individuals and projects alike.
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.
According to local news reports, Mr. Chen was contacted by Mr. Lin, his acquaintance, around February 2022 to post his bank card details on social media app WeChat. Mr. Chen subsequently received seven fiat yuan transfers from Mr. Lin, which Mr. Chen used to purchase USDT.
