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If the court tells you that although your U was stolen, the activities related to USDT are considered illegal financial activities and will not be returned to you, would you accept it?
Zhang San and Li Si met online because of buying and selling USDT, and had multiple transactions during the period. The cause was that Zhang San did not transfer the coins to Li Si as agreed, so Li Si found Zhang San. However, Zhang San and others forced Li Si to hand over the wallet private key password, and then Li Si's U was stolen.
The case has been established, and Zhang San and others have been arrested, and the court has also convicted them of robbery. The victim, Li Si, hoped that USDT or money could be returned to him, but the court's judgment determined Li Si's actions regarding USDT, in accordance with the joint announcement issued by ten departments including the People's Bank of China, the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Public Security on further preventing and dealing with the risks of virtual currency trading speculation, the victim Li Si's behavior constitutes illegal financial activities. According to the above regulations, USDT or the proceeds from selling coins should be handled by the relevant departments in accordance with the law. This legal handling is probably also a confiscation, and those who understand it will not give it to Li Si.
What behaviors does Li Si have? The first is buying and selling behavior, the second is the behavior of being robbed. In other words, the court's view is that the related transactions of USDT are illegal financial activities, and therefore being robbed is an act of being deceived. Although you reported the case as a victim, the corresponding funds of USDT or buying and selling coins belong to illegal activities and will be confiscated.
Can it be judged this way? So I consulted my lawyer friend, and he thinks it can't.
First, the effectiveness of the 924 document notice is the document. According to Article 16 of the Administrative Penalty Law, apart from laws, regulations, and rules, other normative documents may not establish administrative penalties. Moreover, under the current legal system in China, normative documents such as the 2013 notice, the 94 announcement in 2017, and the 924 notice in 2021 may not establish the types and measures of administrative penalties.
Secondly, virtual currency-related business activities constitute illegal financial activities. What are illegal financial activities? Examples are given, such as which businesses of exchanges. Moreover, in the case of Li Si, the USDT behind the robbery or fraud is not considered illegal financial activities because the transactions were not completed.
So it should be returned to the victims, not handed over to the relevant authorities. What do you think, buddies?