Share this article
China Seeking Judicial Authority to Convict and Sentence Crypto Activities: Report
Judicial interpretations are likely to be issued in the future.
Updated May 11, 2023, 5:16 p.m. Published Oct 11, 2021, 11:47 a.m.
The Chinese judiciary is reportedly investigating how to convict and sentence activity related to cryptocurrency.
- It is expected that judicial interpretations will be issued in the future, China-based crypto journalist Colin Wu tweeted Monday, citing Beijing political magazine Caijing.
- The current laws in China that make commercial activities involving crypto illegal cannot be applied, and so the government needs the judiciary to interpret them.
- Virtually all crypto trading was outlawed in China last month, when the exchange of one crypto for another was banned. Caijing Magazine has suggested that the withdrawal of exchanges could see the criminal activities involved becoming more concealed.
Read more: China Crypto Bans: A Complete History
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Paxful Pleads Guilty to Aiding Crime, Ignoring AML Laws
The DOJ said the firm knowingly facilitated illicit trades tied to sex work, sanctions evasion, and fraud, earning millions in fees while ignoring U.S. law.
What to know:
- Paxful pleaded guilty to a three-count criminal information for enabling illegal activity including prostitution, fraud and sanctions violations.
- The platform processed $3 billion in crypto trades while evading anti-money laundering rules and serving high-risk users, the Department of Justice announced Wednesday.
- Prosecutors reduced Paxful’s penalty to $4 million after assessing its finances, with sentencing set for February 2026.
Top Stories
