Cross-border currency speculation is illegal; profits from speculation have been confiscated (Is it unjust?)
Introduction With the rise of digital currencies, virtual currency trading has become a global focus. In China, the regulatory stance on virtual currencies has always been very clear and strict. Recently, public security authorities in a certain area have made an illegal determination regarding a cross-border currency speculation case and confiscated the profits, once again highlighting China's legal regulatory position in the field of virtual currency transactions.
Case Review In August of this year, public security authorities in a certain area discovered a person named Liao, who illegally used a VPN to access the international network through unauthorized channels and engaged in virtual currency trading by buying low and selling high on overseas trading platforms. During his operations, Liao illegally profited 90,000 yuan and provided eight mobile phones and eight computers as tools for the crime. The public security authorities ultimately determined that his actions violated Article 6 and Article 14 of the (Interim Regulations on the Management of International Networking of Computer Information Networks of the People's Republic of China) and the first paragraph of Article 11 of the (Public Security Administration Punishment Law of the People's Republic of China).
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