Taiwan's Hualien District Prosecutor's Office will auction more than 26,000 USDT seized for the first time in March

Taiwan’s Hualien District Prosecutor’s Office announced in a press release that it plans to conduct the first auction of the virtual currency USDT in April, with a total of 26,150 tokens. The object of the auction is the proceeds of crime seized by the prosecutor when investigating a case involving a defendant surnamed Zhou who violated the Money Laundering Prevention Act. The Hualien District Prosecutor's Office of Taiwan cooperated with the Hualien Branch of the Enforcement Department to conduct an auction on the seized TEDA coins. Since TEDA determines its value by pegging the U.S. dollar 1:1, that is, when 1 U.S. dollar can be exchanged for 30 New Taiwan dollars, then 1 Tether can also have the value of 30 New Taiwan dollars, which belongs to the category of virtual currency in the virtual currency market. "Stablecoins".