Legal analysis: It is legal to buy and sell virtual currency, which exists legally in China, but it is illegal to use virtual currency to engage in illegal activities. It is illegal to engage in securities, futures and insurance business without the approval of the relevant competent departments of the state, or illegally engage in fund payment and settlement business.

Legal basis: Article 13 of the Criminal Law of People's Republic of China (PRC) stipulates that all acts that endanger the sovereignty, territorial integrity and security of the country, split the country, subvert the people's democratic dictatorship and the socialist system, disrupt the social and economic order, infringe on state-owned property or property collectively owned by working people, infringe on citizens' private property, infringe on citizens' personal rights, democratic rights and other rights, and other acts that endanger society shall be punished according to law.