In the case: playing contracts in the currency circle is gambling?

Recently, the Pingjiang County Court of Hunan Province (hereinafter referred to as "Pingjiang Court") disclosed 8 criminal judgments related to the BKEX (Bike) virtual currency exchange, which attracted the attention of friends in the currency circle. The main reason is that the judicial authorities identify contract transactions of virtual currency exchanges as gambling, and then the virtual currency exchange is a casino. As a result, the relevant bosses and employees were suspected of opening a casino.

Is the legal basis sufficient? What is the dispute point? As a web3 lawyer, Lawyer Liu wrote a small text to analyze today.

1. Case background

The Pingjiang Court determined that around July 2017, Ji Mouming and Lei Mou and others cooperated to develop contract trading functions through the BKEX exchange. After the user installs the "BKEX" APP or logs in to its official website, it is recharged with the TEDDTTTTTT, and then you can buy contracts such as BTC and ETH.

Users can "buy more than 100 times) or crazy contracts (up to 100 times), crazy contracts (125 -1000 times) or" selling open (selling open) ". In addition, the "BKEX" exchange has functions such as quotation reference data, forced liquidation, matching transactions, platforms such as gambling transactions and agents.

In the "court found" part, the business team formed by Lei Mou has developed a multi -level agent and users, and develops more than 10,000 lower -level agents through others. As of the case, the "BKEX" platform has a total of 270,000 contract users. There are more than 60,000 active users. The platform has obtained a total of 54,797,677 USDT (equivalent to about 300 million yuan) by collecting handling fees and compulsory liquidation and profit -making profit.

According to the court's judgment, there is no more detailed case details. At present, the main criminals in this case should be Ji Mouming and Lei. Among them, Ji Mouming has not returned to the case, and it is probably probably outside. Lei Mou's lawsuit may not be effective or not judged.

The eight public verdicts have been publicized by the grass -roots employees or agents of the "BKEX" exchanges, and the sentence sentences for less than five years are not more than five years.

2. What is the crime of opening a casino

To understand the crime of opening a casino, we must first know what the gambling crime is.

Regarding the definition of gambling, my country's "Criminal Law" did not explain. Generally, the theoretical theory believes that gambling believes that "accidental or losses to win with property or play" (Zhang Mingkai). However, not all gambling are prohibited by the law. There are only two types of gambling that are not allowed to be allowed in our country: First, to convene many people for gambling; second, gambling (full -time or part -time). In detail, there are relevant judicial interpretations in my country and detailed regulations, and Lawyer Liu will not repeat it.

The crime of opening a casino refers to the venue and space for others to gambling, and control or control the casino. It is stipulated in Article 303 of the Criminal Law in my country. With the increasing proportion of online crimes in traditional crimes, the "two highs and one" issued the "Opinions on Several Issues on the Application of Laws for the Application of Laws for Online Gambling Crime Cases" in 2010. " Establishing gambling websites and providing others to organize gambling " and " acting as an agent for gambling websites and receiving betting ", etc., all stipulate that the "opening casino" in criminal law, that is, constitutes a crime of opening a casino.

The penalties for the crime of setting up casinos have a total of two gear: the general circumstances are in prison, detention or control of less than five years; the case is severely sentenced to more than five years in prison; both of them are fined.

3. Is playing contracts gambling?

Back to the topic that friends care about friends. Among the people who speculate, most people have more or less dreams of getting rich overnight. Of course, it is impossible to realize this dream (unless the market has a very stunning performance); for most people still want to rely on playing contracts to play contracts Come and get rich.

In the "Crazy Contract" of the "BKEX" exchange, there are even 1,000 times the contract gameplay. If you buy the direction of the pair, it can indeed become the "5U God of War"; but if you return to reality, will this gameplay comply with the law?

Unfortunately, according to the current regulations of Chinese law, this gameplay can indeed be characterized as gambling.

According to the Supreme People's Court No. 146 Guidance Case (December 2020) -When Qinghao and others opened a casino case. The price trend of internal and external exchange varieties is the target of the transaction. According to the "buying up" and "buying down" to determine the profit and loss, the investors who buy the right direction make a profit and the principal of the wrong direction belongs to the dealer; The decline is linked, essentially the gambling behavior of "pledged size, gambling and winning and winning". The corresponding website should be identified as a gambling website.

In the contract gameplay of the virtual currency exchange, the virtual currency+ultra -high leverage+sustainable contract, the high -risk behavior of this series of high -risk behaviors is naturally difficult to win in the eyes of the judicial agencies that originally held more negative views of virtual currency. I feel, especially in the judicial environment of the absolute dominance of crime thinking, and currently opening a virtual currency exchange in Mainland China will inevitably be involved.

Then, for friends who often play contracts, especially when you play contracts with full -time or part -time, and the main source of economic income is to play contracts, it is really possible to be suspected of gambling. However, based on practical factors, such as the virtual currency exchanges are opened abroad, the judicial organs investigate and obtain evidence and obtain evidence; the anonymity of frying virtual currency is weak and the link of the real world is weak; It has led to few friends who are currently speculating with coins to have real legal risks. The current risk is mainly reflected in the frozen card when buying and selling U.

Fourth, write at the end

Since the release of the "9.24 Notice" in 2021, the owner of the virtual currency exchange in Mainland China either goes to sea or switch to career, and insists on the domestic exhibition industry. Its fate is to face domestic criminal blows. In the past two years, in the currency -related cases hosted by Lawyer Liu, it involved the opening of a virtual currency exchange and a crime of launching in a virtual currency exchange. Regardless of whether it is CZ or Sun, if you return to mainland China, it may not be able to escape the fate of being held accountable.

However, it seems that the virtual currency represented by Bitcoin has been developed since 2009. It is impossible to let it completely disappear out of thin air. For Chinese regulators, they should think about how to properly accept virtual currencies, but this seems to be again. It is impossible, no matter what form of acceptance, it will lead to the impact of virtual currencies on sovereign currency and financial order, which is unacceptable to some people. At least it is at least unclear.