News Snapshot:
China’s Supreme Court has released a judicial interpretation which includes cryptocurrency trading and some forms of online lending under the designation of potential illegal fund-raising. On 24 February the Chinese People’s Supreme Court issued its “Decision Concerning Several Legal Issues in Relation to the Specific Application of the Supreme People’s Court Criminal Cases on Illegal Fund-raising” (关于修改〈最高人民法院关于审理非法集资刑事案件具体应用法律若干问题的解释〉的决定), which will come into effect on 1 March. The Decision amends the definition of “illegal acceptance of funds conduct” to include “online lending, cryptocurrency trading, financial leasing and other new forms of illegal funds acceptance.” The Decision also targets use of aged care...
