Trial Gets Under Way for Well-Known Crypto Executive in China


Source: coindesk.com coindesk.com

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The trial of prominent over-the-counter (OTC) crypto trader and company founder Zhao Dong has started in the Chinese city of Hangzhou. Zhao Dong is charged with "assisting internet criminal activities" according to a live stream of the trial Wednesday, as reported by The Block. This is defined as providing someone known to be committing an internet-based crime with the tools to do so. These include internet access, network storage, telecommunication or payment settlements. Zhao and his team are accused of being a transactional counterparty for a money-laundering scheme called "Day Day Up." If found guilty, Zhao could be sentenced to...