Virtual currency transactions are set as a few questions that illegally fund-raising from the industry must pay attention to

Virtual currency transactions are set as a few questions that illegally fund-raising from the industry must pay attention to

source:Finance Federation | Block Chain Daily

Reporter Xu Jihao

Recently, the Supreme People’s Court released the decision of the Supreme People’s Court on the Amendment of the Interpretation of the Supreme People’s Court on the Specific Application Laws of Improving the Criminal Cases of Illegal Raising Criminal Cases (hereinafter referred to as "the latest judicial interpretation"), March 1, 2022 Get a way.

The latest judicial interpretation is the refinement and explanation of the 1966 illegal absorption public deposits and the crime of the criminal law and the refinement and explanation of fund-raising fraud, two of whom (8) clearly defined virtual currency transactions. In order to absorb public deposits.

"The landing of the supervisory boots is not unexpected." Pantry, Lawyer, Lawyer, said to the "Block Chain Daily" reporter, in fact, since the "Notice on Further Prevention and Disposal of Virtual Money Trading Survey," related virtual coins related The judicial explanation of the transaction is already in expectations.

After the implementation of the new judicial explanation, what kind of behavior can be, and the difficulties in the process of implementation, the "Block Chain Daily" reporter interviewed a number of professional lawyers.

ICO, IEO, IGO variety of behaviors are illegal

Pan Ting’s lawyer said that the rule of judicial explanation was the first to rush. ICO (from the first public release of IPO concepts from the stock market, is the first time the zipper chain project issued the basin, raised Bitcoin, Ether Fang and other universal digital currency behavior). Such behavior is "the latest judicial interpretation" focuses on objects, including the various transformation forms of ICO, IEO (use the exchange as a fundraising platform, issuing (selling) to the transaction (sell) to the loop), IGO (The initial game issuance is an application of a crowdfunding form similar to the block chain technology similar to ICO or IEO.

Pan Ten further explained that before the implementation of "the latest judicial interpretation", ICO’s case has always been a problem. If the project is fundraising with French, then the public security organ is usually relatively simple. However, if the project part is fundraising with virtual coins, such as Eth, USDT, then the case is comparable to the scripture, and it is difficult to pass a nine nineteen eighty. However, after the implementation of the "latest judicial explanation", it is believed that the difficult situation will gradually change.

Pantene lawyer pointed out,Gamefi’s project party does not have a lucky psychology, although the form of chain is very novel, but IGO’s nature is still illegally absorbing public deposits.

"Then it is financial management. Such as lock warehouse, PPAD, LunchPad, etc., basically within the jurisdiction of the latest judicial interpretation." Pantene said.

"Illegal fund-raising new judicial interpretation will be implemented, illegally absorbing funds in network borrowings, investment shares, virtual currency transactions, etc. will be used as the certification of the crime of illegally absorbing public deposits, which is supplemented by regulatory and legal short boards, combating relevant illegal crimes. The new demand is also a new summary of judicial new practice and new forms of crimes. "The Senior Law Firm, Li Ya, who was interviewed by "District Block Chain Daily".

Li Ya L. said that the behavior of virtual currency transactions, whether it is OTC transaction, coin trading, DEFI, GAMEFI, and airdrops, etc., can not only judge a legal nature of a behavior only, need to unveil The veil looks at the essence of this matter.

Li Ya further explained thatAs long as it is in line with the four characteristic requirements of illegal absorption public deposits, ie illegal, openness, profit, sociality, etc. .

Is the previous currency project party safe?

It is worth noting that for the previous currency item, the latest judicial explanation is a focus of currency concerns.

"If the original project continues until now, this illegal or criminal behavior is a sustainable state, it is certainly suitable for the new judicial explanation." Li Ya said.

Li Ya explained that my country’s criminal law is back to the principle of "from the old and light" principle, that is, "conducive to the defendant". Similarly, for the pre-implementation of the new judicial explanation, there is a relevant judicial explanation, and the judicial interpretation is processed according to the act of judicial interpretation; however, the new judicial explanation is beneficial to the suspect, the defendant is beneficial, and the new judicial explanation is applicable. .

Will the NFT platform will affected?

In 2021, it is known as NFT in the first year, and many Internet companies have launched their own digital collection platform (NFT platform), will the NFT platform be affected by the "latest judicial explanation"?

Pantene lawyers said that routine NFT platforms and transactions are not within the scope of "the latest judicial interpretation" and "Notice on Further Prevention and Disposal of Virtual Money Trading."

Pan Ting pointed out "regular" NFT platform and transaction, if the project or platform uses a large number of NFTs to raise the financial market for raising or price steering, etc., and still involve criminal offenses.

However, Pan Ting also said that like Ali’s whale, Tencent’s hyperkaler and other digital collection platforms do not have a secondary market transaction. It is also a private chain, and the sale is used in RMB, and their legal risk is small.

Difficulties for conviction

For virtual currency trading, it is difficult to illegally absorb funding behavior. Li Ya Lao believes that there are mainly three aspects:

First, virtual currency transactions are often related to technological innovation, financial innovation is closely related.In order to definitely define, the legal identification of criminal means is required.

Second, virtual currency transaction crimes will involve relevant technical issues such as block chains,Need to make a case personnel have a certain understanding of the knowledge of relevant expertise.

There is also a virtual currency transaction crime to use the network, block chain and other technical tools.And involving many people, causing a lot of difficulties for handling the cases and fixed evidence.