According to Yonhap News, the Chuncheon District Court in South Korea sentenced a 34-year-old man to one year in prison for violating the "Act on Reporting and Using Specified Financial Transaction Information." The man, along with two accomplices, recruited clients via Telegram between January and June this year, conducting a total of 152 transactions. They received approximately 2,287,000 USDT, valued at around 3.39 billion KRW, and delivered cash to clients through offline meetups after deducting a 2% to 5% service fee. The court stated that engaging in virtual asset trading requires registration with financial regulatory authorities, but the individuals involved operated for over five months without reporting. It emphasized that exchanging virtual assets for cash could be used to facilitate major crimes such as telecom fraud, gambling, and drug-related money laundering, and therefore unregistered virtual asset trading should be strictly punished. https://(wublock123.com)/news/south-korean-man-jailed-for-illegal-telegram-usdt-exchange-2287000-67861