Regulation & Policy

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Fuzhou Gulou District Court: Using USDT as a foreign exchange intermediary constitutes illegal financial activity; the court dismisses the lawsuit and transfers the case to the police

According to reports released on May 11, the People’s Court of Gulou District, Fuzhou (Gulou Court) has recently concluded a case of a dispute over entrusted financial management. Investor Chen through intermediary Liu injected RMB 480,000 into “foreign-exchange wealth management.” After the funds were converted into USDT (Tether), they were transferred to an overseas trading platform, where Chen ultimately suffered a total loss of principal due to the platform’s closure. The Gulou Court held th
MarketWhisper·6h ago
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