#MSCI未排除数字资产财库企业纳入范围 $BTC $ZEC $XRP Is your trading method safe? You must understand the legal boundary line regarding virtual currencies.

A recent judicial case has attracted attention: buying, selling, or holding cryptocurrencies long-term are generally not considered illegal under the law. But there's a common pitfall—do not engage in activities like "coin-to-coin exchange," as it could easily make you an accomplice. 🚨

The core difference is quite simple:

If you are purely an investor trading cryptocurrencies? The risk is yours to bear, and the law doesn't interfere much.

If you start helping others with virtual currency exchanges, purchasing on behalf, or facilitating transactions? Once it’s discovered that the source of funds is not clean—such as involving underground currency exchange or money laundering—you could be directly involved in a criminal chain. The key points are twofold: whether you **know** the nature of the other party’s funds, and whether you **actually participated** in assisting.

In other words, regulators are now mainly focusing on gray areas like OTC intermediaries for virtual currencies and cross-border fund transfers. Ordinary coin holders are temporarily in a safe zone, but once your role becomes a "fund intermediary," the law’s gaze will turn to you.

💭 What is the takeaway for practitioners?

If you are still engaged in coin-to-coin exchanges or OTC matching services, now is the time to conduct a thorough self-inspection. The trend is shifting, and financial regulators are becoming increasingly strict on all kinds of "arbitrage operations under the guise of service." Don’t let a small fee income trap you.

Ultimately, many people involved in virtual currency trading do not even bother to scrutinize the source of the other party’s funds. That is precisely what the law cares most about.

(This article only paraphrases relevant judicial opinions and does not constitute any investment or legal advice.)