Taiwan's largest virtual currency firm, Bixiang Technology, has been implicated in a major money laundering scheme involving NT$2.3 billion. Shi Qiren, the alleged mastermind with connections to the Tiandao Union, was sentenced to 22 years in prison. The district court found Shi guilty of colluding with fraud groups to sell USDT through 45 stores across Taiwan, affecting over 1,500 victims. Shi Qiren was convicted on 485 counts of aggravated fraud and money laundering. Additionally, he was sentenced to one year and four months for failing to complete Anti-Money Laundering registration while providing illegal virtual asset services. The court also ordered the forfeiture of NT$43.73 million in criminal proceeds.