Latest judicial guidance: Virtual currency transactions are not equivalent to money laundering. Lao Liu saw an article and shared it with everyone.
On August 19, the Supreme People's Court and the Supreme People's Procuratorate jointly issued a judicial interpretation that included virtual asset transactions in the regulatory scope of money laundering. Although this has led to some market fluctuations, consumers and practitioners do not need to worry too much. The core of money laundering lies in the transfer and concealment of illegal funds, not the nature of the currency itself.
In China, it is not illegal for individuals to hold and trade cryptocurrencies, but financing-related behaviors such as illegal fundraising are prohibited.
Professional legal experts pointed out that virtual currency transactions are not automatically equivalent to money laundering, let alone criminal offenses. Only when virtual currency is used as a means of money laundering, that is, transferring or converting illegal income and its proceeds, does it constitute money laundering.
The judicial interpretations of the two high courts are intended to provide a clearer legal basis for accurately identifying and combating money laundering involving virtual assets, not a comprehensive ban on virtual currency transactions.
Therefore, the public should remain calm, reasonably understand the new judicial policy, and avoid unnecessary panic.
Tonight at 20:30, the number of Americans applying for unemployment benefits will be released. Tonight will be another night of war and a sleepless night. Will Bitcoin break through 62,000 or fall below 59,000 after the data is released? Will Ethereum reach the recent high of 2,700 or continue to fall below the low of 2,500?
Lao Liu suggested that those who have orders should close their short positions and wait for the opportunity. Tonight, there will definitely be pins up and down. If the market is uncertain, wait for the highest short position ⌛️ Lao Liu signal📶
