Tens of millions of profits were confiscated! The first case of "over the wall to speculate in cryptocurrencies" sounded the alarm! 🔥
The first case of "over the wall to speculate in cryptocurrencies" attracted attention, and the compliance alarm sounded
Recently, a case of "over the wall to speculate in cryptocurrencies" has caused heated discussions. The person involved used VPN to over the wall to speculate in cryptocurrencies on overseas trading platforms to make profits, which was deemed illegal. The 10 million yuan profit was confiscated and a fine of 15,000 yuan was imposed. Mobile phones and computers were also confiscated as illegal tools. This is the first case of "over the wall to speculate in cryptocurrencies" in China.
The controversial point of the case is that although there is no clear definition of illegality in virtual currency transactions in China, "over the wall" violates Article 14 of the "Interim Provisions on the Management of International Networking of Computer Information Networks". According to this provision, it is illegal to use VPN to connect to overseas networks without authorization, and the income obtained by over the wall may be deemed as illegal income. Previously, programmers worked over the wall and their millions of salaries were deemed to be illegal income. Although some people believe that the nature of work income and profit from cryptocurrency speculation is different, the core lies in the legality of "climbing the wall" and subsequent income.
Regardless of whether "climbing the wall" is illegal or not, this case warns individuals to fully understand and abide by local laws and regulations, and to be especially cautious when involved in overseas network activities to avoid legal risks.
