Let's talk about the situation in the United States first: if you are caught by the regulatory authorities in the United States and use insider information to trade, the regulatory authorities will punish you, but if you want to get rid of the crime of "insider trading", you must find evidence to prove your innocence.

As for how to define insider trading in China.

The crime of insider trading stipulated in Article 180 of the Criminal Law refers to the serious behavior of an insider who judges or knows the inside information of stocks and securities trading or an individual or unit who illegally obtains the inside information of stocks and securities trading, buying and selling stocks and securities or disclosing the information before the issuance and trading of stocks and securities are made public. Objectively speaking, the actor violates the laws and administrative regulations of the state on stock and securities trading, leaks inside information or uses inside information to make illegal profits in stock and securities trading, and the circumstances are serious. This crime is a new charge added to the new criminal code.

Insider trading is an act that the actor divulges or uses the inside information of stock and securities trading to others according to his own knowledge, and illegally gains profits from stock and securities trading. 1The Interim Regulations on the Administration of Stock Issuance and Trading promulgated by the the State Council Securities Commission on April 22, 993 stipulates that directors, supervisors and other senior managers of a joint stock limited company, as well as corporate shareholders, who holds more than 5% of the voting shares of the company, sell their shares or buy them within six months after the sale, and the profits thus obtained shall be owned by the company. However, only with such regulations, there is no complete legal system to prohibit insider trading, especially criminal prohibition norms, and it is impossible to fundamentally guarantee the punishment of insider trading violations that undermine the principle of market fairness and infringe the interests of investors. Therefore, according to the objective needs of the development of socialist market economy, the crime of insider trading has been added in the new criminal law of our country to ensure the healthy development of socialist market economy.