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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
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