"Exploration: Is Cryptocurrency Trading in my country a Mindfield of Illegal Activities?"
In China, trading virtual currencies is not actually a clear violation of the law. The country does not have any specific laws and regulations that clearly state that trading virtual currencies is an illegal act. However, the country has introduced many policies to restrict trading, mainly to combat criminal acts under the guise of virtual currencies. This is not just the case in China, but also in various countries and regions around the world, with some minor differences in details.
Sometimes when trading virtual currencies, some people's bank cards will be frozen, blocked, or even held accountable, but the main reason is that they received stolen money when cashing out, or it is related to foreign exchange. There are only these two aspects, whether in the United States, Japan or other countries.
As long as the virtual currency receives stolen money when cashing out, the situation is the same as in China. Even if you play virtual currency in Hong Kong, where the policy is relatively loose, and there is a problem with the withdrawal, the relevant departments in the country have the power to unfreeze and judicially deduct it.
In short, your simple act of trading virtual currencies is not illegal, but if you receive stolen money or involve foreign exchange issues during the cashing out process, it may involve criminal offenses.
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