In a rule of law society, not being convicted for taking one's own money should be the most basic bottom line. But in the cryptocurrency world, this bottom line is constantly being breached.
Recently, I saw a case that shocked me to the point of doubting whether I had traveled back to an era of impoverished views on the rule of law.
The party is an ordinary retail investor. In 2023, he withdrew funds from virtual currency, and his bank card was frozen. A year later, the bank notified him that it was unfrozen and allowed withdrawals. He followed the process to take out his money. However, just a month later, he was criminally detained by the police for 'theft,' and the prosecutor's office approved his arrest.
The unfreezing of the account is legal, the source of funds is clear, and the withdrawal process is compliant—just because this money was once related to virtual currency, can it be defined as 'stolen'?
This is not an isolated case. In recent years, the phenomenon of power abuse in the cryptocurrency sector has been frequent.
The card was frozen for years without resolution, for unknown reasons;
Legal funds were forcibly deemed as 'stolen money';
Enforcement by movement, even if it means wrongfully arresting a thousand.
In this environment, virtual currency has become a basket where any crime can be labeled, and the principle of legality is being wantonly trampled.
When power is unrestrained, it is like a wild beast on the loose. Today you can be charged with theft for virtual currency, and tomorrow you might have more of your rights stripped away for other reasons.
The cryptocurrency industry needs clear legal boundaries—clearly defining the scope of virtual currency trading, regulation, and law enforcement, allowing ordinary people to have laws to follow, enabling law enforcement to have rules to abide by, and requiring effective mechanisms for power constraints.
Otherwise, today 'taking one's own money' is deemed theft, and tomorrow 'saving one's own money' could be labeled as money laundering. By then, anyone could become the next victim.
In the cryptocurrency world, we are not calling for privileges but for the most basic right—to take our own money should not become a crime.
