Shanghai No. 2 Intermediate People's Court: Simply holding or trading cryptocurrency for personal purposes is generally not considered a crime of illegal business operations
Svmuu News: Under the guidance of the Chinese Society of Criminal Law and the Shanghai High People’s Court, and jointly organized by the Shanghai No. 2 Intermediate People’s Court and the School of Law at Renmin University of China, a criminal trial symposium was held focusing on the theme of “Uniform Application of the Law in Cases Involving Virtual Currency Crimes.” The key points of the discussion are summarized as follows: Regarding the determination of “subjective knowledge” in virtual currency money laundering crimes, a comprehensive assessment of subjective knowledge must be made to prevent the imposition of liability based solely on objective factors. Regarding the types of conduct and the criteria for determining the completion of virtual currency money laundering offenses: First, the essential nature of the crime—namely, “concealing or disguising the source and nature of criminal proceeds and their returns”—must be accurately grasped; Second, the act of concealing or disguising the source and nature of criminal proceeds and their returns, as stipulated in the elements of the money laundering offense, constitutes a completed crime; Third, money laundering offenses must be strictly prosecuted in accordance with the law to resolutely safeguard national financial security. Regarding the determination of crimes involving illegal business operations related to virtual currencies, if the conduct does not exhibit the characteristics of business operations and is limited to personal holding or trading of virtual currencies, it is generally not recognized as the crime of illegal business operations. However, if a person knowingly assists others in the illegal or disguised trading of foreign exchange by exchanging virtual currencies, and the circumstances are serious, they shall be recognized as an accomplice to the crime of illegal business operations.
Source:Odaily · Source Link
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