💥 Gate Square Event: #PostToWinCGN 💥
Post original content on Gate Square related to CGN, Launchpool, or CandyDrop, and get a chance to share 1,333 CGN rewards!
📅 Event Period: Oct 24, 2025, 10:00 – Nov 4, 2025, 16:00 UTC
📌 Related Campaigns:
Launchpool 👉 https://www.gate.com/announcements/article/47771
CandyDrop 👉 https://www.gate.com/announcements/article/47763
📌 How to Participate:
1️⃣ Post original content related to CGN or one of the above campaigns (Launchpool / CandyDrop).
2️⃣ Content must be at least 80 words.
3️⃣ Add the hashtag #PostToWinCGN
4️⃣ Include a screenshot s
China imprisons five people for a scheme to launder 166 million dollars in cryptocurrency.
The Beijing court sentenced 5 operators of an illegal foreign exchange ring to 2–4 years in prison for using USDT to transfer over 166 million USD abroad. This is considered one of the largest cases in China related to money laundering with cryptocurrency, marking a step forward in the authorities' ability to trace blockchain transactions. From January to August 2023, this group converted customer funds into USDT through multiple accounts, disguising illegal foreign exchange transactions.
At the same time, the Governor of the People's Bank of China, Pan Gongsheng, warned that stablecoins threaten global financial stability and affirmed a “zero tolerance” stance towards private cryptocurrencies.
Following directives from Beijing, Ant Group and JD.com have also canceled plans to issue stablecoins in Hong Kong, reflecting China's hardline stance on digital assets.