Chinese College Student's Cryptocurrency Fraud Conviction Raises Legal Debate

中國大學生加密貨幣詐欺定罪引發法律爭議

Background

背景

In 2022, Yang Qichao, a student at Zhejiang University in China, issued a virtual currency token, BFF. However, shortly after its issuance, Qichao withdrew liquidity, causing an investor, Luo, to lose 50,000 BSC-USDT coins exchanged for the tokens. Luo subsequently filed a complaint, leading to Qichao's arrest and conviction for cryptocurrency fraud.

2022年，中國浙江大學學生楊啟超發行了虛擬貨幣代幣BFF。然而，發行後不久，七超就撤回了流動性，導致投資者羅某損失了兌換該代幣的 50,000 個 BSC-USDT 幣。羅隨後提出申訴，導致其超因加密貨幣詐欺被捕並被定罪。

Legal Concerns

法律問題

Qichao's sentencing to 4.5 years in prison and a 30,000 Yuan fine has sparked legal debate. Allegations of fraud surrounding the creation and trading activities of the BFF token have raised concerns.

啟超被判處有期徒刑4.5年，併罰金3萬元，引發法律爭議。圍繞 BFF 代幣的創建和交易活動的欺詐指控引起了人們的擔憂。

Yang Qichao's Defense

Yang Qichao's Defense

Qichao's defense attorney has cited a 2017 Chinese regulatory law that states token issuance is illegal and risks borne by investors. However, the law does not explicitly define "token issuance."

啟超的辯護律師引用了2017年中國監管法，該法規定代幣發行是非法的，風險由投資者承擔。然而，法律並沒有明確定義「代幣發行」。

Additionally, the defense has argued that BFF coins existed before Qichao's issuance, and virtual currency platforms allow for multiple coins with identical names but unique contract addresses and liquidity.

此外，辯方還辯稱，BFF 幣在七潮發行之前就已經存在，虛擬貨幣平台允許多個具有相同名稱但具有獨特合約地址和流動性的幣。

Furthermore, the defense has refuted the prosecution's claim that Luo lost money, asserting that he profited from trading the virtual currency.

此外，辯方駁斥了檢方關於羅損失金錢的說法，聲稱他透過交易虛擬貨幣獲利。

Conclusion

結論

The case of Yang Qichao has highlighted the legal uncertainties surrounding cryptocurrency regulation in China. The debate underscores the need for clear guidelines and definitions to prevent future legal disputes in this rapidly evolving industry.

楊啟超案凸顯了中國加密貨幣監管的法律不確定性。這場辯論強調需要製定明確的指導方針和定義，以防止這個快速發展的行業未來出現法律糾紛。