Lawyer: Crypto contracts can be characterized as gambling

The lawyer Liu Zheng stated that crypto contracts can indeed be characterized as gambling. In the contract gameplay of crypto exchanges, the combination of cryptocurrencies, extremely high leverage, and perpetual contracts, this series of high-risk behaviors naturally finds it difficult to gain favor in the eyes of judicial authorities who already hold a relatively negative view of cryptocurrencies, especially in a judicial environment where the mindset of criminalization is absolutely dominant. Currently, operating a cryptocurrency exchange in mainland China will inevitably involve criminal liability. Crypto exchange bosses in mainland China have to either go overseas or change careers, and those who insist on doing business within the country will face criminal crackdown.