The Chinese judiciary is reportedly investigating how to convict and punish cryptocurrency-related activities.
A person close to the Chinese government told Caijing Magazine that he is investigating how the Chinese judiciary will convict and punish cryptocurrency behavior.
Famous journalist Colin Wu shared the news of Beijing political magazine Caijing on his Twitter account on Monday and translated the news to his followers.
The Chinese government defines all business activities involving cryptocurrency as illegal financial activities. Existing laws that make crypto trading activities illegal in China are currently unenforceable, the government needs a judicial decision to intervene.
Nearly the entire crypto trading market was upended by the ban on cryptocurrencies in China last month. Caijing Magazine suggested that the stock market pullback could result in further concealment of related criminal activity.