Foresight News reported that, according to (Workers' Daily), the Beijing Second Intermediate People's Court has concluded a case of concealing and disguising criminal proceeds through virtual currency transactions. The defendant knowingly assisted in the transfer of criminal proceeds and was sentenced to 3 years and 6 months in prison.
In August 2024, Liu, knowing that the cash held by He was criminal proceeds, sold USDT to He and received 200,000 yuan in cash, the whereabouts of which cannot be traced. It was found that the 200,000 yuan transferred by Liu was money fraudulently obtained from others. The court's effective judgment deemed that Liu, knowing it was criminal proceeds, still assisted in the transfer, constituting the crime of concealing and disguising criminal proceeds. The court sentenced Liu to 3 years and 6 months in prison for concealing and disguising criminal proceeds, imposed a fine of 40,000 yuan, and ordered the confiscation of his illegal gains.