The police have cracked down on 1 billion in virtual currency money laundering. Recently, on February 12, 2025, I saw a report.The Yanbian police in Jilin have cracked down on a money laundering foreign exchange case involving 1 billion in virtual currency. Similar to the 15.8 billion money laundering case published by the State Administration of Foreign Exchange in December 2023, the public security agency actively discovered the criminal suspect Zhang San's involved bank accounts. The daily transaction amount and the trading volume of the accounts in his name were enormous, with frequent capital transactions and numerous trading counterparts, none of whom had any social relationships with each other, which raised significant suspicion. After investigation, it was found that Zhang San, through virtual currency exchanges, purchased USDT with RMB from speculators and currency traders domestically and then sold USDT overseas to obtain foreign exchange, thereby indirectly achieving the purpose of transferring illegal proceeds from within the country to outside. In simpler terms, he was using USDT to facilitate the exchange function of RMB against foreign currencies, and the opposite was also true. According to the regulations on illegal foreign exchange business, if the amount of foreign exchange exceeds 25 million, it can result in a prison sentence of five to ten years. In this case, Zhang San's actions of using USDT for currency exchange are suspected of illegal business operations, with a possible prison term of five to ten years. Don’t think that using USDT to help others exchange currency will go unnoticed; as long as the funds from USDT flow to a bank card, it will eventually be investigated, and the sentence will be severe. Lawyer Hu has previously posted videos indicating that cracking down on cases involving USDT for currency exchange has become one of the key focus areas for enforcement.