Foreign exchange is the creditor's rights held by monetary management organs (central bank, monetary management institutions, foreign exchange stabilization fund, Ministry of Finance) in the form of bank deposits, treasury bills of the Ministry of Finance, and long-term short-term government bonds. Can be used when the balance of payments is in deficit. Including foreign currency, foreign currency deposits, foreign currency securities (treasury bonds, treasury bonds, corporate bonds, stocks, etc.). ) and foreign currency payment vouchers (bank deposit vouchers, postal savings vouchers, etc.). ). Engaging in foreign exchange transactions without authorization, the rights and interests of both parties to the transaction are not protected by law, and organizing and participating in such transactions is illegal foreign exchange business and buying and selling foreign exchange without authorization. According to Article 45 of the Regulations on Foreign Exchange Control, those who buy or sell foreign exchange privately, in disguised form, in reverse or illegally introduce foreign exchange will be given a warning and their illegal gains will be confiscated. If the circumstances are serious, a fine of not less than 30 but not more than the illegal amount shall be imposed. If the case constitutes a crime, criminal responsibility shall be investigated according to law. Article 45 of the Regulations on Foreign Exchange Control in People's Republic of China (PRC), anyone who buys or sells foreign exchange privately, in disguised form, or in reverse, or illegally introduces or sells foreign exchange in a large amount, shall be given a warning by the foreign exchange administration authorities and his illegal income shall be confiscated. If the circumstances are serious, a fine of not less than 30 but not more than the illegal amount shall be imposed. If the case constitutes a crime, criminal responsibility shall be investigated according to law.
Legal basis:
According to the provisions of Article 45 of the Regulations on Foreign Exchange Control in People's Republic of China (PRC), those who buy and sell foreign exchange privately, buy and sell foreign exchange in disguised form, buy and sell foreign exchange in reverse, or illegally introduce or buy and sell foreign exchange in a large amount shall be given a warning by the foreign exchange administration authorities, their illegal income shall be confiscated and a fine of less than 30% of the illegal amount shall be imposed. If the circumstances are serious, a fine equivalent to more than 30% of the illegal amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.
Brief summary:
Is it illegal to speculate on the exchange rate? At present, China's laws have not listed foreign exchange speculation as an illegal or illegal object, that is to say, individuals are not prohibited from participating in foreign exchange transactions, so foreign exchange speculation has become a blank in China, which is neither legal nor illegal. In foreign countries, foreign exchange speculation is indeed legal, and there are also regulatory agencies similar to the CSRC, such as the Futures Association of the United States and the Financial Supervisory Authority of the United Kingdom, all of which supervise foreign exchange platforms to ensure their safety and legitimacy.