Fuzhou Court Dismisses Lawsuit Over USDT Investment

A court in Fuzhou has dismissed a lawsuit demanding the repayment of 480,000 yuan, which had been converted into USDT and invested on an overseas platform. According to NS3.AI, the court determined that the transaction constituted a closed loop involving RMB receipt, USDT conversion, cross-border transfer, and foreign exchange trading. This was perceived as disguised foreign exchange trading and suspected economic crime. The Fuzhou Intermediate People's Court upheld the initial ruling, and the case materials have been forwarded to public security authorities for further investigation.