USDT Arbitrage Exchange? 6.5 Billion Involved, Difficult to Escape Accountability!

As a partner at a law firm deeply engaged in the web3 field, I recently reviewed the 6.5 billion illegal currency exchange case in Shanghai, and the more I look, the more alarming it becomes—many people think that "convenient currency exchange" has actually already crossed the criminal line!

Want to remit money to overseas children and feel that the $50,000 limit is not enough, so you look for "underground currency exchange companies" to operate? Just like in the case of Ms. Chen, who seemed to quickly receive foreign exchange, but actually stepped into the trap of a criminal gang. This gang used 17 shell companies to collect domestic RMB, transferred it through USDT over-the-counter transactions, and then converted it into foreign currency through "arbitrage" transfers abroad, with a turnover of 6.5 billion in three years!

Don’t think that the process is hidden so it's fine! The law has long made it clear that this kind of "arbitrage" currency exchange that bypasses foreign exchange regulation is essentially a disguised buying and selling of foreign exchange, directly constituting the crime of illegal business operations. Remember two key numbers: involved in cases of over 5 million or profits over 100,000 may be sentenced to less than 5 years; reaching over 25 million or profits over 500,000 means more than 5 years of fixed-term imprisonment, with a maximum sentence of 15 years!

Cross-border capital flows, compliance is always the top priority. Whether it's individuals or enterprises, when encountering foreign exchange-related confusion, never harbor a sense of luck; seeking professional advice to avoid risks is the right path.