1. Is the foreign exchange platform legal?
Legal. Many people say that foreign exchange is illegal in China. In fact, China just does not advocate highly leveraged trading and restricts the business development of foreign exchange platforms. There is no law that stipulates that foreign exchange platforms are illegal. So we see that there are many foreign exchange platforms with permanent service points in China. But it is only a service point, which can serve customers, but it is not allowed to develop business.
If the sales staff of the platform sell you highly leveraged foreign exchange products in China, it is illegal. If it is overseas, it can't be managed. But if you take the initiative to register and open an account in Platform official website, it is allowed by law.
2. What is the identification standard for individuals to illegally buy and sell foreign exchange?
According to the relevant regulations of the Supreme People's Court, illegally buying and selling foreign exchange is more than 200,000 US dollars, and the illegal income is more than 50,000 yuan, which constitutes the crime of illegally buying and selling foreign exchange. Whoever commits illegal foreign exchange transactions such as buying and selling foreign exchange or buying and selling foreign exchange in disguised form and disrupts the order of the financial market, if the circumstances are serious, shall be convicted and punished for the crime of illegal business operation. At the same time, the serious circumstances of illegally engaging in fund payment and settlement business or illegally buying and selling foreign exchange are divided. Among them, the amount of illegal business is more than 5 million yuan, and the amount of illegal income is more than 654.38+10,000 yuan, which is considered as "serious circumstances"; If the amount of illegal business is more than 25 million yuan, and the amount of illegal income is more than 500,000 yuan, it is deemed as "the circumstances are particularly serious".
Staff members of customs, banks and foreign exchange administrations who collude with fraudulent foreign exchange buyers and provide them with relevant foreign exchange purchase vouchers, or knowingly sell foreign exchange with forged or altered vouchers or commercial documents, which constitutes a crime, shall be given a heavier punishment in accordance with the relevant provisions of the Criminal Law.
Legal basis: Article 225th of the Criminal Law.
Whoever, in violation of state regulations, commits one of the following illegal business operations and disrupts the market order, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times for illegal gains or confiscation of property:
(a) operating a franchise or monopoly commodity or other commodities whose operation is restricted by 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 approval documents stipulated by laws and administrative regulations;
(three) without the approval of the relevant competent departments of the state, illegally engaged in securities, futures, insurance business, or illegally engaged in fund payment and settlement business;
(four) other illegal business activities that seriously disrupt the market order.