Making profits from buying and selling USDT cryptocurrency Why does it constitute the crime of illegal forex trading

Beijing News reports:


Over the past six months, Lawyer Shao has deeply felt that cases of illegal business operations involving the buying and selling of virtual currencies are increasing.
Since the end of 2023, various official media have successively released typical cases of illegal business operations related to the buying and selling of virtual currencies. In practice, judicial authorities across the country seem to be continuously strengthening their crackdown on such transactions.
However, many parties involved still do not understand why trading USDT virtual currency results in charges of illegal business operations. Why would one be convicted even if no illicit gains were received? How is simply trading U related to foreign exchange? This article elaborates on specific scenarios from practice, aiming to provide a simple public education.
Written by: Lawyer Shao Shiwei