A seminar held by the Shanghai No. 2 Intermediate People's Court on "Unified Application of Law in Virtual Currency Crime Cases" concluded that individual holding and trading of virtual currency is ge

Author: PANews

Source: PANews

2026/01/08 15:36

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PANews reported on January 8th that the Shanghai No. 2 Intermediate People's Court recently held a seminar on "Unified Application of Law in Virtual Currency Crime Cases," analyzing three topics, including:

1. The determination of "subjective knowledge" in money laundering crimes involving virtual currencies should be based on a comprehensive assessment of the subjective knowledge involved in the money laundering crime involving virtual currencies, in order to prevent objective attribution of guilt.

2. The determination of the types of acts involved in money laundering crimes related to virtual currencies and the standards for completion of the crime is as follows: First, accurately grasp the essence of the crime as "concealing or disguising the source and nature of the proceeds and profits of crime"; second, the act of concealing or disguising the proceeds and profits of crime as stipulated in the constituent elements of money laundering crimes constitutes a completed crime; third, strictly crack down on money laundering crimes in accordance with the law and resolutely safeguard national financial security.

3. Regarding the determination of crimes involving illegal business operations related to virtual currencies, if the behavior does not have the characteristics of business operations and is merely personal holding or trading of virtual currencies, it is generally not considered a crime of illegal business operations. However, if the person knowingly provides assistance to others in illegally buying or selling or indirectly buying and selling foreign exchange by exchanging virtual currencies, and the circumstances are serious, they should be considered an accomplice to the crime of illegal business operations.

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