Babbitt column | Xiao Wei: Buying virtual currency "dirty assets" is not desirable…

Alumni gathering, a moderately humble alumnus under the slightest question asked me: Sister Jie, unclean money, buy coins, is it legal to turn around from the outside? Oh, what can I say? Or come back to work for everyone. Today, talk to friends, is money laundering?


Money laundering

The popularity of legal programs in our people is obvious to all. Many people may have heard of money laundering on television. Article 191 of the Criminal Law of China regulates the crime of money laundering:

Knowing that it is a drug crime, a crime of organized crime, a crime of terrorism, a crime of smuggling, a crime of corruption and bribery, a crime of destroying financial management order, a crime of financial fraud, and the proceeds of it , in order to disguise and conceal its source and nature, One of the acts, confiscation of the proceeds of the above crimes and the proceeds (the reader can understand, confiscation of interest, dividends, etc.), imprisonment for up to five years or criminal detention, and the amount of money laundered or more than 5 percent A fine of 20% or less; if the circumstances are serious, the prisoner shall be sentenced to fixed-term imprisonment of not less than five years and not more than 10 years, and shall be fined not less than 5% or more than 20% of the amount of money laundering: (1) Providing a fund account;

(2) Assisting in the conversion of property into cash, financial instruments, and securities;

(3) Assisting the transfer of funds through transfer or other settlement methods;

(4) Assisting in remittance of funds abroad;

(5) Covering and concealing the source of crime and the source and nature of its proceeds by other means.

If a unit commits the crime of the preceding paragraph, it shall impose a fine on the unit, and the person in charge directly responsible for it and other directly responsible personnel shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; if the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not less than five years and not more than ten years.

In the case of currency-related incidents, the crime of natural persons is the absolute main force, and the individual subjects are not excluded from the Singapore Foundation.


Exchange, may become the main body of money laundering

Not to mention the mainland exchanges, its legal status is gray, even if it is a legitimate overseas exchange, under certain conditions, it may violate the Chinese money laundering crime and be subject to criminal prosecution.

One of the difficulties in the crime of money laundering is to examine whether “knowing” is “dirty assets” and assisting in whitewashing. According to Article 1 of the Supreme People's Court's Interpretation of Several Issues Concerning the Specific Application of Laws in the Trial of Money Laundering and Other Criminal Cases in November 2009, the judgment of “knowing” was clarified, and the accused's cognitive ability should be integrated, and the criminal proceeds of contact with others should be The case of income, the type and amount of proceeds of crime and the type and amount of proceeds, the conversion and transfer of proceeds of crime and the proceeds, and the confession of the defendant are identified.

In any of the following circumstances, it can be considered "knowing", but there is evidence to prove that it is not known (in practice, we usually recommend practitioners to retain their own uninformed evidence, including electronic data, etc.):

(1) knowing that others engage in criminal activities and assisting in the conversion or transfer of property; (2) assisting the conversion or transfer of property through illegal means without justifiable reasons; (3) acquiring property at a price significantly lower than the market without justifiable reasons; ;

(4) Having no justifiable reasons to assist in the conversion or transfer of property, and to receive a “handling fee” that is significantly higher than the market;

(5) Having no legitimate reason to assist others to deposit huge amounts of cash in multiple bank accounts or frequently transfer between different bank accounts;

(6) Assisting close relatives or other closely related persons to convert or transfer property that is clearly inconsistent with their occupation or property status;

(7) Other circumstances in which the perpetrator may be known.


Scope of the terms

As a statute, what we are most worried about is that the interpretation of the law is “ hidden and unclear ”, thus expanding or narrowing the scope of combating crime. Therefore, for the basic terms, especially the important common crimes, the meaning and extension of the words "other" must be clearly expressed.

There are seven special cases in the "use of other methods to cover up and conceal the source of crime and the source and nature of its proceeds" as stipulated in Item (5) of this crime. We should not follow the specific content and do not follow the red line:

(1) Assisting the transfer and conversion of proceeds of crime and their income through pawn, leasing, trading, investment, etc.; (2) assisting by mixing with the operating income of cash-intensive places such as shopping malls, restaurants, and entertainment venues. Transfer, convert, and proceeds from crimes;

(3) Assisting in the conversion of proceeds of crime and their proceeds into “legal” property through fictitious transactions, false debts and debts, false guarantees, and false reporting of income; (iv) assisting in the conversion of proceeds of crime through the sale and purchase of lottery tickets, lotteries, etc. Its income;

(5) Assisting in the conversion of proceeds of crime and their income into gambling proceeds through gambling;

(6) Assisting in carrying, transporting or mailing the proceeds of crime and its proceeds to and from the country;

(7) Assisting in the transfer and conversion of proceeds of crime and their benefits through methods other than those mentioned above.


Written at the end

We are not opposed to holding the virtual property of Bitcoin, but we are opposed to using virtual currency to transfer assets or money laundering overseas . From an international point of view, for the crime of money laundering, the police and regulatory authorities of all countries attach great importance to it, international cooperation is more frequent, and there are regular channels for daily communication.

The bitcoin that climbed out of the dark net should wear the clothes that were taken off in the past, instead of being dragged into the quagmire, and continue to be the funding channel for international crime. We also advise the mainland's currency holders not to try to use the virtual currency as a tool for money laundering.

The above is today's sharing, grateful readers.

Author: Xiao Sa

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