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Taiwanese Man Arrested For Illegal USDT Transactions
According to PANews, a 30-year-old man in Kaohsiung, Taiwan, has been apprehended by police for engaging in illegal Tether (USDT) transactions. This marks the first case since the implementation of the new Anti-Money Laundering Law's Virtual Asset Service Provider (VASP) registration system. The investigation revealed that the man used social media platforms to find buyers, completing over 100 transactions within a month and selling 400,000 USDT, earning approximately 800,000 New Taiwan dollars.
In a related incident, authorities in Taipei uncovered an illegal cryptocurrency trading operation with transactions exceeding 200 million New Taiwan dollars and illicit profits reaching 20 million New Taiwan dollars. Police have issued a warning that individuals and businesses conducting cryptocurrency transactions without proper registration are violating the law and may face penalties of up to two years in prison and fines of up to 5 million New Taiwan dollars.
In a related incident, authorities in Taipei uncovered an illegal cryptocurrency trading operation with transactions exceeding 200 million New Taiwan dollars and illicit profits reaching 20 million New Taiwan dollars. Police have issued a warning that individuals and businesses conducting cryptocurrency transactions without proper registration are violating the law and may face penalties of up to two years in prison and fines of up to 5 million New Taiwan dollars.
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