Are companies allowed to speculate in bitcoin
It's not against the law to do bitcoin business, but don't use bitcoin to do illegal things
the following is the bitcoin risk notice issued by the central bank and other five ministries and commissions (bitcoin home has the full text):
the notice defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and mandatory, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
common financial fraud features
1. Fictitious trading platform, using simulated trading software. Scam gangs often make up a tall company and send a simulated trading software to investors, which is controlled by them. In the software, commodity market and price trend are all set by themselves, and then hyped with investors. You buy up, he buy down, let you lose money
2. Freezing customer accounts and delaying transactions. When the investors make profits, they freeze their accounts so that they can't sell normally after they buy. Then other operators will widen the price direction, making the investors' actual profits turn into losses
3. When the customer is profitable, close the position forcibly. Its good name is to avoid your loss. Because the trading software, they have backstage control, found that investors profit, forced closing. Because investors are usually network open. Account, one no contract, two do not know the name and address of the company, often forced to close positions, powerless, no door to appeal
4. Set up a virtual account in the trading platform, then inject virtual capital into the account, and then control the trading market through the virtual capital, resulting in the loss of the victim
5. Enlarge the transaction leverage, set up the "main account" of the victim with the capital amplification ratio of tens or hundreds of times, and then make the victim lose money through the capital advantage operation and market control after amplification
6. Perform "sliding point" operation. According to the regular trading order of commodities, but a small amount of increase or decrease in the transaction amount of customers, so that customers make less profits or more losses and make profits
7. Frequent trading on behalf of customers to earn high handling charges, collect customer storage fees, processing fees, profit sharing and other losses for investors
all kinds of foreign exchange trading platforms on China's network, one without the approval of China's financial regulatory department, two without the establishment of relevant institutions to provide business services in China, three without filing with the telecommunications department in accordance with the law, are illegal business activities
features
1. A compliant foreign exchange platform
regulated dealers, whose customers trade orders directly into the bank and the market, provide channels for banks and traders, and make profits in the foreign exchange market only through technical analysis. At present, the major foreign exchange dealers in the world are regulated by four regulatory bodies: 1. The Financial Services Authority (FSA), 2. The Commodity Futures Trading Commission (CFTC), 3. The National Futures Association (NFA) and 4. The Australian Securities and Investment Commission (ASIC), Once a complaint is made, the regulatory authorities will accept it. Moreover, every investor's trading list is the bank order corresponding to the dealer, and there will be no false trading
2. Non compliant foreign exchange platforms
small platforms that are not regulated by regulators or fake regulators. Investors just bet with dealers, that is, the so-called internal trading. The money that investors lose flows to the dealers' capital pool. Their purpose is to put the money in your pocket into your own pocket, and they will not be responsible for the investors' funds.
It's not against the law to do bitcoin business, but don't use bitcoin to do illegal things
in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty
the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate
in China, some Taobao stores also began to accept the use of bitcoin, and the number of businesses will graally increase
in October 2013, the first bitcoin quarterly, one bit, was released
on October 15, 2013, the network accelerator service of the network announced its support for bitcoin
on October 26, 2013, btcmini reported that GBL was hacked
on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws
on December 5, 2013, notice of the Ministry of instry and information technology of the people's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing bitcoin risk: bitcoin is a specific virtual commodity
as a commodity trading behavior on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk
on September 4, 2017, announcement of the people's Bank of China Central Network Information Office, Ministry of instry and information technology, State Administration for Instry and commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing the risk of token issuance financing: it is prohibited to engage in token issuance financing activities (ICO)
the trading platform shall not engage in the exchange business between legal tender and token, or virtual currency, or buy or sell token or virtual currency as a central counter party, or provide pricing, information intermediary and other services for token or virtual currency
on November 2, 2018, the people's Bank of China released the 12th topic of China financial stability report 2018, which talked about "encrypted assets"
{rrrrrrr}
extended information:
currency transaction
purchase method
< P > users can buy bitcoin, and at the same time, they can use computers to "mine" bitcoin according to algorithms. When users "mine" bitcoin, they need to search for 64 bit numbers by computer and then, by repeatedly solving mysteries, compete with other gold miners to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, it will get 25 bitcoins
e to the decentralized programming of bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the upper limit of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes
source of reference: network bitcoin
There is no law in China to ban bitcoin, so it is not illegal to mine and earn bitcoin
it is not illegal to buy bitcoin in China. In 2013, five ministries and commissions jointly issued the bitcoin risk notice, which states that although bitcoin does not belong to legal tender and is not legally compulsory, people can freely participate in bitcoin trading activities when they voluntarily undertake risks
"notice" clearly defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and mandatory, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market
however, as a kind of commodity trading on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk
the notice requires that at this stage, financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin in the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
in order to avoid over hype of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
source of reference: People's website bitcoin network virtual currency