Is it illegal to use foreign exchange rates to buy and sell foreign exchange to earn the difference?

We all know that although many countries today implement the rule of law, they are very different in many aspects. The most common one is the difference in currencies. At the same time, due to the different values ​​of currencies, there will be people who take advantage of this situation to obtain benefits. Because, then is it illegal to use foreign exchange rates to buy and sell foreign exchange to earn the price difference? The editor of Legal Savior Network has compiled relevant content and hopes it will be helpful to you.

Is it illegal to use foreign exchange rates to buy and sell foreign exchange to earn the difference?

China Capital Market There is no official exchange rate derivatives trading platform officially opened. It is not illegal for investors to trade on foreign exchange trading platforms at home and abroad as long as the capital deposits and withdrawals do not exceed the limit and do not have illegal properties such as money laundering. However, if they are cheated by a black platform, they will not be subject to the law. Protect. As for spot foreign exchange trading, it is not illegal as long as the exchange amount does not exceed a certain scale.

Relevant legal knowledge

Article 45 of the "Foreign Exchange Administration Regulations of the People's Republic of China" stipulates: Private buying and selling of foreign exchange, disguised buying and selling of foreign exchange, reselling of foreign exchange or illegal introduction and buying and selling of foreign exchange in relatively large amounts If the violation occurs, the foreign exchange administration authority will give a warning, confiscate the illegal income, and impose a fine of not more than 30% of the illegal amount. If the circumstances are serious, a fine equivalent to more than 30% of the illegal amount will be imposed; if a crime is constituted, criminal liability will be pursued in accordance with the law.

The transfer of equity by a shareholder to a person other than the shareholder must be approved by a majority of the other shareholders. Shareholders shall notify other shareholders in writing to seek their consent regarding the transfer of their equity. If other shareholders do not respond within thirty days from the date of receipt of the written notice, they shall be deemed to have agreed to the transfer. If more than half of the other shareholders do not agree to the transfer, the shareholders who do not agree should purchase the transferred equity; if they do not purchase, it will be deemed to have agreed to the transfer.

It can be seen that it is not illegal to use the difference in foreign exchange rates to buy and sell foreign exchange to obtain profits, as long as it does not exceed a certain amount and scale. Of course, In many cases, this kind of behavior is not limited to a certain amount and will eventually constitute an illegal crime. Therefore, it is recommended that when the amount exceeds a certain amount and is found to be a crime, the parties concerned should consult a lawyer in time. The Legal Savior Network also provides online lawyer consultation services. You are welcome to conduct legal consultations. consult.