According to reports from Golden Finance, and as reported by the Procuratorial Daily, three young men born after 1995 used virtual currency trading as a medium to engage in foreign exchange 'business'. In just a few months, they completed over 650 transactions, exchanging nearly 30 million yuan in foreign currency. The Jianhu County Procuratorate filed a public prosecution, and recently, Lin and the other two were sentenced by the court to prison terms of five years to one year and six months for illegal business operations, along with fines. In early 2020, 25-year-old Lin, due to his low educational background, had not found a suitable job. At that time, the virtual currency market was booming, and he learned online that many people became rich overnight by trading coins, so he also wanted to use virtual currency to turn his life around. After being introduced by a friend, he and his high school classmate Yan started 'brick moving' for virtual currency at a local studio. Subsequently, Lin, in collusion with a Nigerian national, purchased Tether on Binance using the local currency Naira, then transferred it to Lin's Binance account. Lin sold the Tether to domestic currency traders for RMB and then transferred the funds to a bank account in China provided by 'Prince'. Lin initially set the purchase price at a 5% discount based on the Tether's listing price for that day, then sold it to domestic currency traders at the listing price, earning the price difference. Investigations found that from September 2020 to January 2021, Lin and Yan disguised their foreign exchange transactions amounting to over 21.29 million yuan. From January to April 2021, after Xie joined, the three disguised their foreign exchange transactions amounting to over 8.38 million yuan. The prosecuting attorney stated that although it seemed that there was no physical flow between RMB and foreign exchange in disguised foreign exchange transactions, it actually circumvented China's foreign exchange regulation, affected the stability of China's financial market, and led to inaccurate economic data held by the state, impacting financial decisions such as exchange rates and foreign exchange reserve adjustments, posing significant harm. The prosecutor reviewed and believed that Lin and the other two used virtual currency as a medium to provide cross-border exchange and payment services to earn exchange rate differences, thus circumventing national foreign exchange regulation, affecting the effectiveness of foreign exchange management and the stability of the legal exchange rate, disrupting the normal order of the financial market, and should be held criminally liable for illegal business operations according to the law. On April 29, the court, after trial, accepted the charges and sentencing recommendations from the procuratorial organ, sentencing Lin and Yan to five years in prison each, along with fines; Xie was sentenced to one year and six months in prison, with probation, and fined. None of the three appealed, and the judgment has taken effect.