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)

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.