Shanghai Second Intermediate Court "Unified Application of Law in Virtual Currency Crime Cases" Seminar: Individual Holding and Trading Cryptocurrencies Generally Not Determined as Illegal Operating Crime
On January 8, the Shanghai Second Intermediate Court recently held a "Unified Application of Law in Virtual Currency Crime Cases" seminar, analyzing three topics:
1. Determination of "Subjective Knowledge" in Money Laundering Crimes Involving Virtual Currency • When determining whether an actor "knew" about money laundering crimes, comprehensive judgment should be made by combining factors such as the source of funds, transaction methods, and behavioral background
• Prevent direct presumption of subjective intent based solely on objective results, and avoid objective criminal liability
2. Types of Money Laundering Conduct and Standards for Crime Completion • Accurately understand the essence of money laundering crimes, namely concealing the source and nature of criminal proceeds and their income
• As long as conduct meeting the elements prescribed by the criminal law for concealment and camouflage is implemented, the crime can be determined as completed
• In judicial practice, money laundering crimes should be strictly punished in accordance with law, and national financial security must be firmly safeguarded
3. Recognition Boundary of Illegal Operating Crime Involving Virtual Currency • If the conduct does not have operational characteristics and merely belongs to individual holding and trading of cryptocurrencies, it is generally not determined as illegal operating crime
• However, if the actor knows that others are illegally or indirectly buying and selling foreign exchange, yet still provides assistance through virtual currency exchange methods
• And meets the standard of serious circumstances, should be determined as an accomplice to illegal operating crime
Shanghai Second Intermediate Court "Unified Application of Law in Virtual Currency Crime Cases" Seminar: Individual Holding and Trading Cryptocurrencies Generally Not Determined as Illegal Operating Crime
On January 8, the Shanghai Second Intermediate Court recently held a "Unified Application of Law in Virtual Currency Crime Cases" seminar, analyzing three topics:
1. Determination of "Subjective Knowledge" in Money Laundering Crimes Involving Virtual Currency
• When determining whether an actor "knew" about money laundering crimes, comprehensive judgment should be made by combining factors such as the source of funds, transaction methods, and behavioral background
• Prevent direct presumption of subjective intent based solely on objective results, and avoid objective criminal liability
2. Types of Money Laundering Conduct and Standards for Crime Completion
• Accurately understand the essence of money laundering crimes, namely concealing the source and nature of criminal proceeds and their income
• As long as conduct meeting the elements prescribed by the criminal law for concealment and camouflage is implemented, the crime can be determined as completed
• In judicial practice, money laundering crimes should be strictly punished in accordance with law, and national financial security must be firmly safeguarded
3. Recognition Boundary of Illegal Operating Crime Involving Virtual Currency
• If the conduct does not have operational characteristics and merely belongs to individual holding and trading of cryptocurrencies, it is generally not determined as illegal operating crime
• However, if the actor knows that others are illegally or indirectly buying and selling foreign exchange, yet still provides assistance through virtual currency exchange methods
• And meets the standard of serious circumstances, should be determined as an accomplice to illegal operating crime
#虚拟货币监管 # Virtual Currency Crime #洗钱犯罪认定 #Trading Not Criminalized #China Crypto Regulation