ChainCatcher News reports that according to Lawyer Wu Enxiang's public account, in August this year, the public security authorities in a certain area of the country determined that the act of bypassing restrictions to trade cryptocurrencies is illegal, and the individuals involved were administratively punished, with their profits from trading cryptocurrencies confiscated.
The public security authorities in a certain area of the country discovered that a man was using a VPN to illegally connect to the international internet through unregulated channels. He contacted clients abroad who needed to purchase a certain virtual currency via a foreign website and then traded on an overseas trading app, buying the virtual currency at a low price and ultimately selling it at a high price, engaging in the sale of that virtual currency. After being summoned by the public security authorities, the man arrived to accept their investigation. During the operation of his studio, he illegally profited 90,000 yuan.
The administrative punishment decision states that the man's actions constitute the unauthorized use of unregulated channels for international internet connectivity. According to Article 6, Article 14 of the 'Interim Regulations on the Administration of International Connections of Computer Information Networks in the People's Republic of China,' and Article 11, Paragraph 1 of the 'Public Security Administration Punishment Law of the People's Republic of China,' it has been decided to order the violator Zhang San to cease the illegal internet connection, issue a warning, impose a fine of 15,000 yuan, confiscate the illegal gains of 90,000 yuan, and seize eight mobile phones and eight sets of computers used in the crime.