A former senior manager at a major Chinese cryptocurrency exchange has been acquitted by a Hong Kong court of secretly moving about US$5 million in Tether stablecoins, worth around HK$39 million, to his own accounts six years ago.
A seven-member High Court jury reached the verdict on Friday to find Chen Boliang, who used to work at cryptocurrency firm Huobi – now known as HTX – not guilty of accessing its platform to trade in the dark pool under an individual account he created with an alias between February 27 and March 14, 2020.
According to the Securities and Futures Commission’s regulations, only institutional investors are allowed to use the dark pool, while individual investors are strictly prohibited.
Dark pool trading…
