Chen Zhen was fined 2.48 million for tax evasion, and the issue was with withdrawing funds—transferring personal income to the company's account.

So, will crypto OTC cash-outs be "taxed"? I looked at a lawyer's opinion.

🔹 Liu Lei, a relatively authoritative lawyer in China, believes—no.

1. Crypto is a gray area; criminal law doesn’t cover it and civil law doesn’t recognize it. Taxing it would be "washing it clean."
2. The tax base is impossible to determine; it's too difficult to collect evidence on your earnings from this.
3. Crypto is a commodity, and you don’t need to pay taxes on appreciation. If they want to tax you, you can just withdraw in USDT.

I have to say, that third approach is pretty slick 😂