Is it illegal to buy and sell virtual currency, and is it legal to buy and sell virtual currency

Selling virtual currency is not an illegal offense. The sale of virtual currency is legal, and virtual currency is legal in China, but if the use of virtual currency to engage in illegal activities, it is illegal, and it is illegal to operate **, **, insurance business without the approval of the relevant competent state authorities, or illegally engage in fund payment and settlement business is an illegal business crime.

According to the Notice of the Ministry of Culture and the Ministry of Commerce on Strengthening the Management of Virtual Currency in Online Games, in order to carry out the application and approval of for-profit Internet cultural units to engage in the business of "online game virtual currency issuance services", according to the "Decision on the Establishment of Administrative Licenses for Administrative Examination and Approval Items that Really Need to Be Retained" and the "Interim Provisions on the Administration of Internet Culture", enterprises engaged in the issuance or trading of virtual currency in online games need to apply for relevant business operations.

1. "Online game virtual currency issuing enterprises" refers to online game operating enterprises that issue and provide virtual currency use services. "Online Game Virtual Currency Trading Service Enterprise" refers to an enterprise that provides platform-based services for the trading of online game virtual currency between users. The same enterprise shall not operate the above two businesses at the same time.

2. "Online game virtual currency issuing enterprises" shall meet the relevant conditions for the establishment of for-profit Internet cultural units.

3. "Online game virtual currency trading service enterprises" shall meet the relevant conditions for the establishment of for-profit Internet cultural units, and the relevant provisions of the competent department of commerce on e-commerce services.

Legal analysis: It is legal to buy and sell virtual currency, but if it is illegal to use virtual currency to engage in illegal activities, it is illegal to illegally operate **, **, insurance business without the approval of the relevant competent state authorities, or illegally engage in fund payment and settlement business is an illegal business crime. The object of this crime should be the market order, and in order to ensure the restriction of the sale and purchase of goods and the market for import and export goods, the State implements a business licensing system for goods.

Legal basis: Article 225 of the Criminal Law of the People's Republic of China: Where state regulations are violated by committing any of the following illegal business activities, disrupting market order, and the circumstances are serious, a sentence of up to five years imprisonment or short-term detention is to be given, and/or a fine of between 1 and 5 times the amount of unlawful gains; where the circumstances are especially serious, a sentence of five or more years imprisonment is to be given, and a concurrent fine of between 1 and 5 times the amount of unlawful gains or confiscation of property is to be given: (1) Engaging in the operation of monopoly or monopoly items or other restricted items as provided for by laws or administrative regulations without permission; (2) Buying and selling import and export licenses, import and export certificates of origin, and other business licenses or approval documents provided for by laws and administrative regulations; (3) Illegally operating **, **, or insurance business without the approval of the relevant competent state departments, or illegally engaging in fund payment and settlement business; (4) Other illegal business activities that seriously disrupt market order.

Legal analysis: buying and selling virtual currency is legal, but if you use virtual currency to engage in illegal activities, it is illegal, without the approval of the relevant competent departments of the state, illegal operation of **, **, insurance business, or illegal engagement in fund payment and settlement business is an illegal business crime. The object of this crime should be the market order, and in order to ensure the restriction of the sale and purchase of goods and the import and export of goods market, the State implements a business licensing system for goods.

Legal basis: Article 225 of the Criminal Law of the People's Republic of China.

Whoever violates state provisions by committing any of the following illegal business activities, disrupting market order, and the circumstances are serious, is to be sentenced to up to five years imprisonment or short-term detention, and/or a fine of between 1 and 5 times the amount of unlawful gains; where the circumstances are especially serious, a sentence of five or more years imprisonment is to be given, and a concurrent fine of between 1 and 5 times the amount of unlawful gains or confiscation of property is to be given

1) Engaging in monopoly or monopoly goods or other restricted items as provided for by laws and administrative regulations without permission;

2) Buying and selling import and export licenses, import and export certificates of origin, and other business licenses or approval documents stipulated by laws and administrative regulations;

(3) Illegally operating **, **, or insurance business without the approval of the relevant competent state departments, or illegally engaging in fund payment and settlement business;

(4) Other illegal business activities that seriously disrupt market order.