Odaily Odaily reports that a seminar on criminal trials, jointly hosted by the Shanghai No. 2 Intermediate People's Court and the Law School of Renmin University of China, under the guidance of the China Criminal Law Research Association and the Shanghai High People's Court, focused on the theme of "Unified Application of Law in Cases Involving Virtual Currency Crimes." The seminar content is summarized below:
The determination of "subjective knowledge" in money laundering crimes involving virtual currencies should be based on a comprehensive assessment of the subjective knowledge involved in the money laundering crime in order to prevent objective attribution of guilt.
The determination of the types of acts involved in money laundering crimes related to virtual currencies and the standards for completion of the crimes involves three aspects: First, accurately grasping the essence of the crime as "concealing or disguising the source and nature of the proceeds and profits of crime"; second, committing acts of concealing or disguising the proceeds and profits of crime as stipulated in the constituent elements of money laundering crimes constitutes a completed crime; and third, cracking down on money laundering crimes strictly in accordance with the law to resolutely safeguard national financial security.
In determining whether a crime involves illegal business operations related to virtual currencies, if the behavior does not exhibit characteristics of business operations and is merely personal holding or trading of virtual currencies, it is generally not considered a crime of illegal business operations. However, if someone knowingly assists others in illegally buying or selling or indirectly buying and selling foreign exchange by exchanging virtual currencies, and the circumstances are serious, they should be considered an accomplice to the crime of illegal business operations.
