Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
May 16, 2024 17:29
An underground bank operation in China was busted for using USDT for foreign currency exchanges involving transactions worth $1.9 billion. The underground operations began on January 21, primarily to smuggle medicine, cosmetics, and investment assets overseas. Authorities destroyed the underground operations in Fujian and Hunan, and the police froze $20 million linked to the operations. Despite the ban on using cryptocurrencies and crypto exchanges in China, some individuals have found ways to evade it and utilize crypto assets in alternative ways over the years.
