Have some melon 🍉
Former manager of BOC (Asia) accused of bribery pleads guilty over $470,000 U
According to Sina Finance: Lin Junxian, a former customer manager of BOC (Asia), has pleaded guilty. He admitted conspiring with an employee of a financial technology company and accomplices to accept bribes—not in cash, but in USDT—totaling more than $470,000. Even more bizarrely, the case also involves “false back-up letters of credit” verified without bank authorization; the reported value of related documents exceeds $1.6 billion. The sentencing has been postponed to September 18.
USDT isn’t an invisibility cloak. There are traces on-chain, and law enforcement is now far more skilled at investigating virtual assets than you might think. This time, the Commission can investigate, prosecute, and get the accused to plead guilty—showing that crypto is no longer outside the law. You think transferring U is smooth; they can collect evidence just as smoothly. Does this mean there is still upward potential, including $ZEC ?
For the crypto world, this isn’t good news or bad news—just a reminder: compliance will only get stricter. Don’t treat USDT as a bribe tool, and don’t treat crypto as a money-laundering channel. Every U you send out could become evidence later.
Tech won’t take the blame—greed will. That’s it.
Source: Sina Finance, Hong Kong ICAC. Personal opinion only; not investment advice.
Former manager of BOC (Asia) accused of bribery pleads guilty over $470,000 U
According to Sina Finance: Lin Junxian, a former customer manager of BOC (Asia), has pleaded guilty. He admitted conspiring with an employee of a financial technology company and accomplices to accept bribes—not in cash, but in USDT—totaling more than $470,000. Even more bizarrely, the case also involves “false back-up letters of credit” verified without bank authorization; the reported value of related documents exceeds $1.6 billion. The sentencing has been postponed to September 18.
USDT isn’t an invisibility cloak. There are traces on-chain, and law enforcement is now far more skilled at investigating virtual assets than you might think. This time, the Commission can investigate, prosecute, and get the accused to plead guilty—showing that crypto is no longer outside the law. You think transferring U is smooth; they can collect evidence just as smoothly. Does this mean there is still upward potential, including $ZEC ?
For the crypto world, this isn’t good news or bad news—just a reminder: compliance will only get stricter. Don’t treat USDT as a bribe tool, and don’t treat crypto as a money-laundering channel. Every U you send out could become evidence later.
Tech won’t take the blame—greed will. That’s it.
Source: Sina Finance, Hong Kong ICAC. Personal opinion only; not investment advice.
