WJ雯静
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Do you really understand the legal boundaries of holding and trading virtual currencies in our country?
90% of the people in front of the screen may not be clear whether playing virtual currency in our country will get them arrested. Some say friends make money by buying coins without issues, while others see news reports of related personnel being arrested every day. It’s like “picking up gold in a minefield.” You can pick up gold, but stepping on a landmine will be fatal; the key is to be clear about where the “landmines” are buried.
On September 24, 2021, the central bank and ten ministries issued the “Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation,” categorizing matters related to virtual currencies into “green zones, gray zones, and red zones.”
The green zone means that holding virtual currency personally is not illegal. The document clearly states that virtual currency does not have the same legal status as legal tender, and related activities are illegal financial activities, but it does not deny the currency itself. In simple terms, virtual currency is defined as a special virtual commodity, and holding it is like collecting paintings or luxury watches; it is a personal asset and relatively safe in the green zone.
The gray zone means personal transactions are at your own risk. If someone privately uses WeChat to transfer and receive your Bitcoin, although it is not directly illegal, it is in a legally unprotected gray area, and the risks are borne by you. For example, if the other party receives the money but does not give the coins during the transaction, it is difficult to report to the police because the state does not support such risky investment behaviors, related contracts are invalid, and losses can only be borne by oneself. At this point, you have already stepped to the edge of the minefield, and you may be cheated and blackmailed with no protection.
The red zone is a high-voltage line that must be severely punished, involving illegal financial activities. First is setting up exchanges to facilitate buying and selling virtual currencies domestically; second is issuing virtual currencies, creating projects to sell coins for people to buy, which constitutes a serious crime of illegal fundraising; third is engaging in virtual currency exchange services, acting as a “converter” helping people exchange RMB for USDT or vice versa, involving illegal business operations and money laundering crimes; fourth is providing pricing information intermediary services, establishing a company to provide market information for virtual currencies or leading trades.
Therefore, in playing with virtual currency, some have no issues while others get arrested. The difference lies in quietly “picking up gold” in the minefield or recklessly acting as an “arms dealer.” It is essential to recognize the legal boundaries and ensure personal safety.
Wenjing focuses on Ethereum contract spot ambush, and the team still has positions to get in quickly #美国非农数据超预期 $ETH
90% of the people in front of the screen may not be clear whether playing virtual currency in our country will get them arrested. Some say friends make money by buying coins without issues, while others see news reports of related personnel being arrested every day. It’s like “picking up gold in a minefield.” You can pick up gold, but stepping on a landmine will be fatal; the key is to be clear about where the “landmines” are buried.
On September 24, 2021, the central bank and ten ministries issued the “Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation,” categorizing matters related to virtual currencies into “green zones, gray zones, and red zones.”
The green zone means that holding virtual currency personally is not illegal. The document clearly states that virtual currency does not have the same legal status as legal tender, and related activities are illegal financial activities, but it does not deny the currency itself. In simple terms, virtual currency is defined as a special virtual commodity, and holding it is like collecting paintings or luxury watches; it is a personal asset and relatively safe in the green zone.
The gray zone means personal transactions are at your own risk. If someone privately uses WeChat to transfer and receive your Bitcoin, although it is not directly illegal, it is in a legally unprotected gray area, and the risks are borne by you. For example, if the other party receives the money but does not give the coins during the transaction, it is difficult to report to the police because the state does not support such risky investment behaviors, related contracts are invalid, and losses can only be borne by oneself. At this point, you have already stepped to the edge of the minefield, and you may be cheated and blackmailed with no protection.
The red zone is a high-voltage line that must be severely punished, involving illegal financial activities. First is setting up exchanges to facilitate buying and selling virtual currencies domestically; second is issuing virtual currencies, creating projects to sell coins for people to buy, which constitutes a serious crime of illegal fundraising; third is engaging in virtual currency exchange services, acting as a “converter” helping people exchange RMB for USDT or vice versa, involving illegal business operations and money laundering crimes; fourth is providing pricing information intermediary services, establishing a company to provide market information for virtual currencies or leading trades.
Therefore, in playing with virtual currency, some have no issues while others get arrested. The difference lies in quietly “picking up gold” in the minefield or recklessly acting as an “arms dealer.” It is essential to recognize the legal boundaries and ensure personal safety.
Wenjing focuses on Ethereum contract spot ambush, and the team still has positions to get in quickly #美国非农数据超预期 $ETH
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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