Lawyer: In a certain place in the country, the public security authority determined in August that a certain act of using VPN for cryptocurrency speculation was illegal, and the profits from the speculation were confiscated
ChainCatcher news, according to the disclosure from lawyer Wu Enxiang's public account, in August this year, a public security agency in a certain area of the country determined that the behavior of using VPNs to trade cryptocurrencies was illegal, and the involved individuals were administratively punished, with their profits from trading cryptocurrencies confiscated.A public security agency in a certain area discovered that a man was using a VPN to illegally connect to the internet through non-statutory channels. He contacted overseas clients who needed to purchase a certain virtual currency through a foreign website, then bought the virtual currency at a low price using a certain currency on an overseas trading app, and finally sold it at a high price, engaging in the sale of the virtual currency. After being summoned by the public security agency, the man came to accept the investigation. During the operation of the studio, he illegally profited 90,000 yuan.The administrative penalty decision stated that the man's actions constituted unauthorized use of non-statutory channels for international internet access. According to Article 6 and Article 14 of the "Interim Regulations on the Administration of International Networking of Computer Information Networks of the People's Republic of China" and Article 11, Paragraph 1 of the "Public Security Administration Punishment Law of the People's Republic of China," it has been decided to order the violator Zhang San to cease networking, issue a warning, impose a fine of 15,000 yuan, confiscate the illegal gains of 90,000 yuan, and seize eight mobile phones and eight computers used in the crime.
