Legal analysis: It is legal to buy and sell virtual currencies. It is illegal to use virtual currencies to engage in illegal activities. It is illegal to operate securities, futures, and insurance businesses without the approval of the relevant national competent authorities, or to illegally engage in capital. Payment and settlement business is an illegal business crime. The object of this crime should be the market order. In order to ensure the restricted market for buying and selling goods and importing and exporting goods, the state implements a business license system for goods.

Legal basis: Article 225 of the "Criminal Law of the People's Republic of China" Whoever violates national regulations and commits one of the following illegal business activities, disrupts market order, and if the circumstances are serious, shall be sentenced to five years The following fixed-term imprisonment or criminal detention, and concurrently or solely a fine of not less than one time but not more than five times the illegal income; if the circumstances are particularly serious, shall be sentenced to not less than five years of fixed-term imprisonment and concurrently a fine of not less than one time but not more than five times the illegal income, or confiscation of property: (1) ) Operating special items or other restricted items as stipulated in laws and administrative regulations without permission; (2) Buying and selling import and export licenses, import and export certificates of origin, and other business licenses or approvals stipulated in laws and administrative regulations documents; (3) illegally operating securities, futures, and insurance businesses without the approval of relevant state authorities, or illegally engaging in fund payment and settlement business; (4) other illegal business activities that seriously disrupt market order.