A Study On The Crime Of Money Laundering In Virtual Currency

In history the money has gone through different stages of development like the physical currency, metallic money, paper money and so on. However, virtual money currency is the new product development of the Internet economy.meanwhile promoting the development of the network economy, there have been many social problems. Virtual money,as a new payment tool, does not have traditional features.Virtual currency for money-laundering offenses seems very attractive. Nowadays more and more criminals use its unique characteristics to launder money, and thus these issues have become increasingly prominent so as to make virtual money laundering crime become more convenient for new channels. This paper is talking about virtual currency which can be exchanged for cash. The perpetrators through a network of virtual currency conversion put their lawful veil upon the ill-gotten gains and virtual currency earnings. Nowadays, virtual currency market along with the depth of the development of market economy shaping globalization also will be growing rapidly. The virtual money laundering crimes are gradually increasing, even jumping, into the situation. Coupled with the lack of virtual money laundering laws and regulations of the crime, to deal with such crimes seems possible to follow nowhere. Therefore, in order to better regulate such crimes, establishing and improving laws and regulations from the virtual currency legislation has become inevitable. The paper is divided into three sections, totaling about 37,000 words.The first chapter is an overview of virtual money laundering crime. This chapter generally analyzes what is a virtual currency and thus derives related crimes,including the development of the demonstration on the basic concepts of virtual money laundering offense, features, and in-depth history. To lay the foundation for the later explained, the study of virtual money laundering crime totally differs from ordinary crime because of the presence of these characteristics.The second chapter is about its necessity and feasibility of virtual-money laundering incrimination. The author of this chapter tries to analyze the incrimination necessity and feasibility of virtual-money laundering from the concept of criminal law,the current situation, the rule of law and the spirit of contemporary social situation, in order to emphasize the urgent need of laws to regulate virtual-money laundering crimes.The third chapter illustrates virtual currency laundering crime legislation. Firstly,the law blank with many imperfections on this crime legislation, results in a surge of such crime increasing, so that it is quite necessary to present such phenomenon legislation, through the establishment and improvement of legislation to regulate such virtual money laundering offenses. Secondly, the author proposes some sound views to lawmakers for reference in terms of how to make laws and regulate virtual-money laundering crimes from its legal regulation inevitability and its current legislation models. Finally, the paper discusses about the concept of its legislation to deal with the problems of virtual- money laundering crimes from the perspective of criminal law. Moreover, this part analyzes the practical significance of the regulation of virtual-money laundering offenses combined with the principles of criminal legality.