Is virtual currency trading illegal?

Virtual currency trading is risky. Whether it is illegal or not depends on the situation, as follows:

1. Virtual currency exists legally in China, but it is illegal to use virtual currency to engage in illegal activities;

2. Those who engage in securities, futures and insurance business illegally, or engage in fund payment and settlement business illegally without the approval of the relevant competent departments of the state shall be punished as illegal business.

The criteria for filing the crime of illegal trading are as follows:

1. Whoever disturbs the market order, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall be fined not less than one time but not more than five times the illegal income;

2. If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times the illegal income, or his property shall be confiscated.

To sum up, virtual currency exists legally in China, but it is illegal to use virtual currency to engage in illegal activities. It is illegal to engage in securities, futures and insurance business without the approval of the relevant competent departments of the state, or illegally engage in fund payment and settlement business.

Legal basis:

Legal basis:

criminal law

Article 225

Whoever, in violation of state regulations, commits one of the following illegal business operations and disrupts the market order, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times for illegal gains or confiscation of property:

(a) without permission, the franchise, monopoly of goods or other goods restricted by laws and administrative regulations;

(2) buying and selling import and export licenses, import and export certificates of origin and other business licenses or approval documents stipulated by laws and administrative regulations;

(three) without the approval of the relevant competent departments of the state, illegally engaged in securities, futures, insurance business, or illegally engaged in fund payment and settlement business;

(four) other illegal business activities that seriously disrupt the market order.