Lawyer Liu Zheng stated that contracts in the cryptocurrency space can indeed be characterized as gambling. In the contract trading of virtual currency exchanges, the combination of virtual currency + extremely high leverage + perpetual contracts creates a series of high-risk behaviors that naturally find it difficult to win favor in the eyes of judicial authorities, which already hold a largely negative view of virtual currencies. This is especially true in a judicial environment dominated by a mindset of criminalization. Currently, operating a virtual currency exchange in mainland China is bound to involve criminal issues. The owners of virtual currency exchanges in mainland China either go overseas, switch careers, or those who insist on operating domestically face the fate of encountering domestic criminal prosecution. Read the full text: