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China's Supreme Court rules that crypto transactions constitute "illegal fundraising"; violators face up to 10 years in prison and fines of up to $79K (Eliza Gkritsi/CoinDesk)

Photo of Grace Will Grace Will February 24, 2022
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Eliza Gkritsi / CoinDesk:

China’s Supreme Court rules that crypto transactions constitute “illegal fundraising”; violators face up to 10 years in prison and fines of up to $79K  —  The ruling paves the way for violators to be criminally prosecuted, with a punishment of up to 10 years in prison and fines of up to $79,000.



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