Supreme People's Procuratorate: Using virtual currency as a medium to carry out illegal transactions is illegal financial activity

On December 27th, recently, the Supreme People's Procuratorate and the State Administration of Foreign Exchange jointly released 8 typical cases of punishing foreign exchange illegal crimes. The person in charge of the Fourth Procuratorial Department of the Supreme People's Procuratorate stated that the cases released this time mainly targeted illegal foreign exchange transactions involving cross-border matching. Regarding the cases of illegal foreign exchange transactions using virtual currencies as a medium in the typical cases, the person in charge of the Fourth Procuratorial Department of the Supreme People's Procuratorate pointed out that in China, virtual currencies do not have the same legal status as legal tender, and related business activities belong to illegal financial activities. (Wall Street News)