Revealing the Risky Behaviors of Cryptocurrency Participants ⚡️ The cryptocurrency market has various ways to engage, but a small oversight can lead to legal violations. Here are some common risky behaviors and their corresponding consequences that everyone must remember!
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❌ Issuing Tokens and Private Placements
Dangerous Operation: Issuing XX tokens independently, luring people to invest with promises of dividends and price surges; conducting private placements or ICOs, allowing retail investors to subscribe to original tokens; using blockchain projects as a facade, with no actual technology or application support.
Legal Consequences: If the amount involved exceeds 1 million or involves more than 30 people, it may constitute the crime of illegal public deposit solicitation, punishable by up to 10 years in prison and a fine of 500,000.
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❌ OTC Trading
Dangerous Operation: Trading with parties using dirty money to purchase virtual currencies, turning one's account into a money-laundering channel; frequently engaging in large transactions, triggering bank risk control mechanisms.
Legal Consequences: For less severe cases, the bank card will be frozen for 3 years, affecting personal credit; for serious cases, it may be classified as the crime of assisting in money laundering, facing imprisonment of less than 3 years and fines.
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❌ Recruiting for Commissions
Dangerous Operation: Implementing a three-tier distribution and team reward model, the more subordinates developed, the higher the commission earned.
Legal Consequences: If the team exceeds 30 people and has more than 3 levels, it will be classified as organizing and leading pyramid schemes, punishable by up to 15 years.
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❌ Acting as a Trader
Dangerous Operation: Promising clients guaranteed returns and no losses; using others' accounts for trading, which may lead to accusations of misappropriating virtual currencies after losses.
Legal Consequences: Fabricating guaranteed profit techniques constitutes fraud.
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❌ Manipulating Token Prices
Dangerous Operation: Collaborating with major holders to pump and dump prices; spreading rumors of insider information, project parties absconding, etc., affecting token price trends.
Legal Consequences: Will be classified as manipulating securities and futures markets, with amounts involved exceeding 1 million, punishable by over 5 years in prison.
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If you accidentally engage in the above behaviors in the cryptocurrency market, do not panic. Immediately cease related operations, then quickly gather relevant evidence and consult a professional lawyer. A professional lawyer can help you analyze whether the behavior constitutes a crime and guide you on how to communicate with law enforcement authorities to maximize the protection of your legal rights.
