A Chinese court has ruled that BKEX’s contract trading was illegal gambling, and its employees and agents were accomplices in operating an unlawful casino. The court detailed how BKEX founder Ji Jiaming, currently on the run, set up the exchange and launched perpetual contract trading, allowing users to bet with high leverage on crypto price movements. Employees like Zheng Lei and Wang were convicted of aiding the platform’s operations. While some sentences were suspended, hefty fines and asset recoveries were imposed. This ruling reinforces China’s strict stance against crypto-related financial crimes.
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