Shanghai Second Intermediate People's Court: Holding coins personally and trading cryptocurrencies generally do not constitute illegal business activities

2026-01-08 15:11
Odaily Planet Daily Report: Guided by the China Criminal Law Society and the Shanghai Higher People's Court, the Shanghai Second Intermediate People's Court and the Law School of Renmin University of China jointly hosted a criminal trial seminar focusing on “Legal Uniformity in Virtual Currency Crime Cases.” The discussion content is summarized as follows:
The determination of “subjective knowledge” in virtual currency money laundering crimes should be comprehensively judged to prevent objective guilt.
Regarding the types of behaviors and the standards for completion in virtual currency money laundering crimes, firstly, accurately grasp the essence of the crime “covering up and concealing the source and nature of criminal proceeds and their gains”; secondly, the behaviors that constitute the crime of money laundering, which involve covering up and concealing criminal proceeds and their gains as stipulated by the crime's elements, are considered completed crimes; thirdly, strictly crack down on money laundering crimes in accordance with the law to resolutely safeguard national financial security.
In the identification of illegal business crimes involving virtual currencies, if the behavior does not exhibit characteristics of business activities and only involves personal holding and trading of coins, it is generally not recognized as an illegal business crime. However, if the individual knowingly assists others in illegal buying and selling or disguised trading of foreign exchange, and still provides help through virtual currency exchange, and the circumstances are serious, it should be identified as an accomplice to illegal business.