China's Supreme Court said this week it would strengthen investigations into new types of cases such as <a href="https://www.cryptoknowmics.com/news/california-new-law-allows-donating-in-cryptocurrencies/" target="_blank" rel="noopener">cryptocurrencies</a> to protect the legal rights of investors.
<h2>Protection of the Legal Rights of Crypto Investors</h2>
According to a local media <a href="https://www.cs.com.cn/sylm/jsbd/202207/t20220725_6286715.html" target="_blank" rel="nofollow noopener">report</a> from today, China's Supreme Court has decided to look over new types of cases such as securities, cryptocurrencies, and cross-border financial product transactions to effectively protect the legal rights of investors. The move comes considering the current legal status of digital status in the country is very vague and complicated.

Earlier in February, the Supreme Court <a href="https://www.court.gov.cn/fabu-xiangqing-346901.html" target="_blank" rel="nofollow noopener">specified</a> that "virtual currency" transactions used for raising funds can be prosecuted, with varying penalties available depending on the amount of money raised.

The law took into effect on March 1. The potential penalties vary significantly based on the amount of cryptocurrency involved in the alleged crimes. If found guilty, an offender could face up to 10 years in prison, as well as fines up to 500,000 yuan or $79,000.

The country's stringent policy on crypto is nothing new, considering it has implemented a dozen bans against various crypto-related activities over the past decade. One of the biggest crackdowns came last year when it issued a blanket ban on all crypto-related activities.

China's Supreme Court Will Strengthen Investigations Into Cryptocurrency

China’s Supreme Court will strengthen investigations into new types of cases such as cryptocurrencies in an effort to protect the legal rights of investors.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

China's Supreme Court Will Strengthen Investigations Into Cryptocurrency

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