[Shanghai No. 2 Intermediate People's Court Seminar on 'Unified Application of Law in Cases Involving Virtual Currency Crimes': Personal Holding and Trading of Virtual Currency Generally Not Recognized as Illegal Business Operations] The Shanghai No. 2 Intermediate People's Court recently held a seminar on 'Unified Application of Law in Cases Involving Virtual Currency Crimes,' analyzing three key topics, including: 1. The determination of 'subjective awareness' in virtual currency money laundering crimes should be comprehensively judged to prevent objective imputation in such cases. 2. The identification of behavioral types and standards for completion in virtual currency money laundering crimes involves: - Accurately grasping the essence of the crime, which is 'concealing or disguising the origin and nature of criminal proceeds and their benefits.' - Actions that meet the requirements of money laundering crimes, such as concealing or disguising criminal proceeds and their benefits, are considered completed crimes. - Strictly combating money laundering crimes in accordance with the law to resolutely safeguard national financial security. 3. The determination of illegal business operations involving virtual currency: - If the behavior does not exhibit characteristics of business operations and merely involves personal holding or trading of virtual currency, it is generally not recognized as illegal business operations. - However, if an individual knowingly assists others in illegal foreign exchange transactions or disguised foreign exchange transactions by facilitating the exchange of virtual currency, and the circumstances are severe, they should be recognized as accomplices in illegal business operations.