Odaily Planet Daily News Recently, the First Intermediate People's Court of Chongqing made a final ruling on a case involving illegal operation of virtual currency. The defendant He was sentenced to three years in prison and a fine of 5 million yuan by the People's Court of Yubei District, Chongqing for illegal operation because of illegally engaging in fund payment and settlement business on a virtual currency trading platform and earning profit from the price difference. It is understood that under He's operation, he not only invested his own funds in illegal exchange business, but also received a large amount of funds from others for exchange business, with a total amount of up to 609 million yuan. These funds circulated rapidly in He's hands, forming a huge illegal capital chain. As of May 2019, the cumulative transaction flow of bank accounts controlled by He had reached more than 14 billion yuan, and his personal illegal profit was as high as a staggering 4.77 million yuan. He used these illegally obtained funds to purchase real estate, invest in financial products, etc., trying to legalize them. After trial, the Chongqing First Intermediate People's Court finally ruled to dismiss the appeal, upheld the original judgment, and once again reminded that the state has clearly prohibited the recharge and exchange of legal currency with tokens and virtual currency. Any attempt to circumvent this regulation and obtain profits through illegal means will face severe punishment by law.