Is it legal to exchange money privately?

It is illegal to exchange foreign exchange in the hands of individuals, which belongs to money laundering activities. At present, China has not yet opened its foreign exchange market, but the foreign exchange platforms entering the mainland from abroad and Hong Kong are operating normally. At present, there is no clear opening license or prohibition of foreign exchange entry; Some domestic banking institutions are also making foreign exchange gold, and it is only a matter of time before the foreign exchange market opens. Theoretically, it is not illegal to operate a formal platform, but if your company is a black platform and the account you operate is a customer account, once the customer reports the loss, the operator will bear joint and several liability. At present, the domestic foreign exchange system makes domestic foreign exchange companies can only act as agents but not as brokers. As a novice, the most important thing is to find a standardized platform to ensure the safety of funds.

Is the foreign exchange platform legal?

1, 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.

3. It is illegal for the sales staff of the platform to sell highly leveraged foreign exchange products to you at home, but it cannot be managed overseas. But if you take the initiative to register and open an account in Platform official website, it is allowed by law.

Legal basis: Article 45 of the Regulations on Foreign Exchange Control in People's Republic of China (PRC), whoever buys or sells foreign exchange privately, buys or sells foreign exchange in disguised form or illegally introduces a large amount of foreign exchange, shall be given a warning by the foreign exchange administration authorities, and his illegal income shall be confiscated, and a fine of less than 30% of the illegal amount shall be imposed; If the circumstances are serious, a fine of not less than 30% of the illegal amount but not more than the equivalent value shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.