Many people are concerned about whether trading virtual currency in China is illegal? First of all, trading virtual currency in China does not explicitly violate the law. The country does not specifically state which laws and regulations clearly state that trading virtual currency is illegal. Although many policies have been introduced to restrict transactions, the main purpose is to crack down on crimes disguised as virtual currency. Not only in China, but also in various countries and regions around the world, the general situation in this regard is similar, with only some differences in details.
Although some people's cards will be frozen and blocked when trading virtual currency, and even held accountable, the main reason is that they received stolen money during the cashing process, or foreign exchange is involved. Only these two points, even if you are in the United States, Japan or other countries, it is the same.
As long as the virtual currency receives stolen money during the cashing process, the situation is the same as in China, even if you have problems with virtual currency withdrawal in Hong Kong, where the policy is relatively loose. The relevant departments in the country also have the right to unfreeze and judicially deduct.
Your simple behavior of trading virtual currency is not illegal, but if you receive stolen money or involve foreign exchange issues during the cashing process, it may involve criminal offenses.
