Beijing Court Sentences Liu for Crypto Money Laundering

Liu was sentenced to three years and six months in prison for concealing criminal proceeds through USDT transactions, highlighting China’s ongoing crackdown on cryptocurrency-related crimes. This case serves as a reminder of the legal risks associated with crypto transactions, especially those involving digital assets like USDT. 2023 saw an alarming surge in reported crypto fraud cases within Beijing alone, amounting to over $60 billion. These cases underscore the challenges authorities face in combating illicit activities using cryptocurrency.