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crypto is illegal in China. Violation does not equate to crime
$SOL In China, illegal but non criminal acts are mostly administrative and civil violations with minor circumstances and low social harm. The common types are as follows:
1. Violation of public security management, such as drug use and injection, prostitution, may result in detention or fines; Lightly assaulting others without causing minor injuries, intentionally damaging a small amount of property of others; Carrying controlled knives into public places without causing serious consequences is regulated by the Public Security Administration Punishment Law.
2. Traffic violations: Common behaviors in daily life such as running red lights, going in the wrong direction, not parking according to regulations, and speeding small vehicles by less than 50%, which do not cause major traffic accidents, only require administrative penalties such as fines and deduction of points, and do not constitute a crime.
3. Civil infringement and breach of contract: using someone else's portrait for minor commercial promotion without consent without causing any adverse effects; The breach of contract by merchants who delay delivery after online shopping without causing significant losses; Mild insults to others on the internet without causing serious reputational damage shall be subject to civil liability such as apology and compensation.
4. Market and business category: operating unlicensed small vendors and not reaching the level of illegal business crime; The merchant's slight false advertising of the product did not cause significant losses to consumers; Selling a small amount of unqualified products without seriously endangering human health violates market supervision regulations but does not involve criminal activities.
5. Other administrative violations: unauthorized release of drones, graffiti in public places, unauthorized opening of other people's parcels, playing mahjong involving small gambling funds, etc. These behaviors disrupt public order or infringe on the rights and interests of others, and are usually punished with warnings, fines, and other penalties.
$BNB In China, the act of individuals simply trading cryptocurrencies does not constitute a crime in itself, but it is not protected by law, and many related behaviors are highly likely to be suspected of crimes. The specific explanation is as follows:
1. Determination of no criminal liability for individual cryptocurrency trading itself: According to the "Notice on Further Preventing and Dealing with Risks of Virtual Currency Trading Speculation" issued by ten ministries in 2021, the focus of regulation is on illegal financial business activities related to virtual currencies, rather than individual buying, selling, and holding behavior, and the document does not directly classify individual cryptocurrency trading as a crime. However, if a transaction dispute arises due to cryptocurrency speculation, the relevant civil and legal actions will be deemed invalid, and the losses must be borne by oneself.
2. Related activities may easily violate criminal charges, such as illegally building virtual currency trading platforms or providing services to domestic users for overseas exchanges, which may constitute the crime of illegal business operations; Assisting in the transfer of funds involved in telecommunications fraud, gambling, and other related activities through OTC trading may violate the crime of aiding and abetting or concealing criminal activities; The model of using virtual currency as a gimmick to attract people for investment may also be suspected of organizing or leading pyramid schemes or illegal fundraising related crimes.
$ETH The final conclusion is that cryptocurrency trading should be done quietly, without getting caught or guiding others to operate, especially in real life traffic diversion.
But it should also be noted that all responsibilities are borne by oneself. If you become a huge whale, there is a possibility that government departments may harvest you
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