[Fujian Hanjiang Court Rules on Virtual Currency Money Laundering Case, Involving Over 13.3 Billion Yuan in Transactions] The People's Court of Hanjiang District, Putian City, Fujian Province, recently concluded a criminal case related to virtual currency, with the funds involved totaling a staggering 13.3 billion yuan. Yan XX, Zheng XX, Lin XX, and others used Tether (USDT) to establish an underground foreign exchange trading network. They solicited clients through overseas messaging apps, using virtual currency as a medium to illegally exchange Chinese yuan and foreign currencies. Investigations revealed that the group conducted illegal foreign exchange transactions amounting to 25.62 million yuan and withdrew over 478 million yuan in cash from banks across various locations in Fujian. These funds were used to purchase virtual currencies, which were then transferred to upstream criminal wallets to "launder" cross-border crime proceeds, generating profits in the process. Ultimately, the court sentenced 15 defendants to prison terms ranging from 8 months to 3 years for the crimes of illegal business operations and aiding cybercrime activities, along with corresponding fines.