On December 1, 2024, the Ministry of Public Security, in collaboration with the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the People's Bank of China, will officially implement the (Telecommunications Network Fraud and Associated Illegal Criminal Activities Disciplinary Measures). This means that once it is determined that activities involving virtual currency trading fall under the new regulations, all bank cards and phone cards under your name may be frozen, and your credit may be affected.
So, will all virtual currency trading be subject to disciplinary measures? After detailed consultations with my lawyer friends, the conclusion is: purely engaging in virtual currency trading will not be directly punished. The new regulations clearly state that only activities involving telecommunications fraud and associated crimes, or lending bank cards and phone cards, will be included as subjects for discipline.
Specifically, if your virtual currency trading activities involve criminal offenses, such as aiding and abetting crimes, concealing crimes, fraud, etc., or if you provide payment tools such as bank cards for criminals to engage in virtual currency trading, you will be subject to disciplinary measures and face legal consequences.
In summary, as long as your trading activities do not involve aiding criminals or engaging in illegal activities such as lending cards, you do not need to worry about disciplinary measures for purely engaging in virtual currency trading.