Shanghai Second Intermediate Court Seminar on "Legal Uniformity in Virtual Currency Crime Cases": Personal Holding and Trading Usually Not Recognized as Illegal Business

January 8 News, the Shanghai Second Intermediate Court recently held a seminar on "Legal Uniformity in Virtual Currency Crime Cases," analyzing three topics:

1. The Recognition of "Subjective Knowledge" in Money Laundering Crimes Involving Virtual Currencies
• Whether the behavior is "knowingly" involved in money laundering crimes should be comprehensively judged based on factors such as the source of funds, transaction methods, and behavioral background

• Prevent relying solely on objective results to directly infer subjective intent, avoiding objective attribution

2. Types of Money Laundering Behaviors and the Standards for Completion
• Accurately understand the nature of money laundering crimes, which involve disguising and concealing the source and nature of criminal proceeds and their gains

• As long as the conduct involves the concealment or cover-up behaviors stipulated by the criminal law, it can be recognized as a completed crime

• In judicial practice, money laundering crimes should be strictly cracked down according to law to resolutely safeguard national financial security

3. Boundaries for Recognizing Illegal Business Crimes Involving Virtual Currencies
• If the behavior does not have the characteristics of business operations and only involves personal holding or trading, it is generally not recognized as an illegal business crime

• However, if the behavior involves knowingly assisting others in illegal or disguised foreign exchange transactions, it should be considered as an accomplice in illegal business crimes if the circumstances are serious

#虚拟货币监管 #Virtual currency crime #洗钱犯罪认定 #Trading not considered a crime #ChinaCryptoRegulation