China busts $1.9 billion underground banking operation using USDTLegal • May 16, 2024, 2:02AM EDT Published 1 minute earlier on Quick Take Police in China have busted an underground bank that conducted foreign currency exchanges using USDT. The operation involved transactions worth about 13.8 billion yuan ($1.9 billion). Police in Southeast China’s Sichuan province have dismantled an underground bank that used the USDT stablecoin for foreign currency exchanges, involving transactions worth a...