Woofun AI reports that the Taichung District Court in Taiwan sentenced Shi Qiren, head of BitThink Technology, to 22 years in prison in the first instance. The court found him guilty of 485 charges, including aggravated fraud and money laundering, for operating virtual asset services without completing required anti-money laundering registration. BitThink Technology was accused of selling USDT through 45 stores in collusion with fraud rings, facilitating money laundering exceeding 2.3 billion New Taiwan dollars. This activity resulted in losses of approximately 1.275 billion New Taiwan dollars for 1,539 victims. The judgment also ordered the forfeiture of illicit gains totaling about 43.72 million New Taiwan dollars.