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Blockchain digital currency law
Publish: 2021-05-07 14:16:17
1. blockchain is characterized by decentralization, trust, collective maintenance and reliable database
for example, Sunzi asked Li Zi to borrow 100 yuan, but Li Zi was afraid that he would default, so he asked the village head to do notarization and add the account. This is called centralization. But if you don't ask the head of the village, you can shout "I'll lend my grandson 100 yuan! Please put it in the account book. "This is called decentralization. In the past, the village head was highly respected and had a good command of the accounts of the whole village. Everyone kept their money with him. This was the past trust in centralization. Now, everyone is worried that the village head will secretly misappropriate everyone's money. What should we do? So everyone sent an account book to everyone. Anyone who transfers money between them releases information through the loudspeaker. After receiving the information, everyone records the transaction in their own account book. This is called decentralization. With distributed ledgers, it doesn't matter if Lao Zhang or Lao Li's ledgers are lost, because Lao Zhao, Lao Ma and other families have ledgers
digital currency is abbreviation of digital currency. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Blockchain technology service upgrade technology
for example, Sunzi asked Li Zi to borrow 100 yuan, but Li Zi was afraid that he would default, so he asked the village head to do notarization and add the account. This is called centralization. But if you don't ask the head of the village, you can shout "I'll lend my grandson 100 yuan! Please put it in the account book. "This is called decentralization. In the past, the village head was highly respected and had a good command of the accounts of the whole village. Everyone kept their money with him. This was the past trust in centralization. Now, everyone is worried that the village head will secretly misappropriate everyone's money. What should we do? So everyone sent an account book to everyone. Anyone who transfers money between them releases information through the loudspeaker. After receiving the information, everyone records the transaction in their own account book. This is called decentralization. With distributed ledgers, it doesn't matter if Lao Zhang or Lao Li's ledgers are lost, because Lao Zhao, Lao Ma and other families have ledgers
digital currency is abbreviation of digital currency. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Blockchain technology service upgrade technology
2. Decentralized, open and transparent payment and collection technology. If you don't understand, I'll take you to make one. Completely free blockchain digital currency.
3. It's true, but the digital currency issued by the central bank is legal digital currency. It is equivalent to RMB. It is only temporarily used for inter-bank transfer, and it will take some time for private use. Friends can consider doing the research and development of Chinese yuan currency authorized by China digital currency Research Institute. At present, it has just started, and the price is still very low. See my name for more information.
4.
As of May 2020, blockchain and digital currency are illegal in China
according to the 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 risks of token issuance and financing, Article 2 no organization or indivial shall illegally engage in token issuance and financing activities. Organizations and indivials that have completed the token issuance and financing should make arrangements such as refund, reasonably protect the rights and interests of investors, and properly handle risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects
Article 3 strengthen the management of token financing trading platform
from the date of this announcement, any so-called token financing trading platform shall not engage in the exchange business between legal currency and token and "virtual currency", and shall not buy or sell token or "virtual currency" as a central counter party, and shall not provide pricing for token or "virtual currency" Information intermediary and other services
extension data
"illegal financial institutions and illegal financial business activities ban" stipulates that:
eleventh, the criminal suspect, funds and property involved in illegal financial institutions and illegal financial activities, and the public security organs shall take compulsory measures according to law to prevent suspect from escaping and transferring funds and property. p>
Article 12 the people's Bank of China shall, after investigation and confirmation, make a decision to ban the illegal financial institutions and financial business activities, declare them illegal, order them to stop all business activities, and make an announcement
Article 13 if the people's Bank of China discovers that a financial institution opens an account, handles settlement and provides loans for an illegal financial institution or illegal financial business activities, it shall order the financial institution to stop the relevant business activities immediately. No unit or indivial may use the relevant funds without authorization5. At present, there is no final conclusion. In the past 17 years, it has been stipulated that it is illegal. However, the national laws already have a sense of supervision in this aspect, and some relevant policies and regulations will soon be issued to regulate and regulate the blockchain, which means that there will be legal blockchain in the future.
6. If it's true, I think it will have a good impact on the development of the blockchain instry. I've been in the coin circle for several months, and I've seen many projects cutting leeks in the name of "blockchain". In fact, the essence is air money. If the blockchain is legislated, the atmosphere of the coin circle will become more formal, and many projects like SEC's social e-commerce chain will work hard, More people will find out.
7. With the development of blockchain, there are more and more ICO projects and exchanges in the blockchain instry. How should so many projects develop in compliance
the current blockchain project compliance is divided into two sections:
first, blockchain coin issuing project compliance: Foundation + legal compliance opinion
often referred to as ICO, IEO, etc. first of all, we build overseas entities. Generally speaking, most coin issuing entities choose Singapore foundation. It is a non-profit company in the form of XX Foundation Ltd. Finally, a legal compliance opinion is issued by a Singapore lawyer. The content of the legal opinion includes the amendment of a white paper and the token non securitization certificate, which is mainly to make the project comply with the laws of Singapore. This legal opinion is also needed for the later docking of the project with the currency on the exchange< Second, blockchain exchange project compliance: subject company + digital currency trading license:
license is one of the important compliance documents of the platform. It is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and applied for the Canadian license, the license was pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major platforms have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses
for example: MSB digital currency exchange license in the United States, MTR digital currency + Wallet al license in Estonia, austrac digital currency license in Australia, etc
the role of MSB license in the United States:
1. American MSB license is famous, packaging platform and good publicity
2
3. It can increase the trust of customers, enhance their visibility, and make the platform develop better and faster in compliance
advantages of MSB license
1. Investor recognition - Corporate Law and financial instry regulation in the United States are very perfect. With a U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Become a first-line platform -- MSB license is also a standard license for global digital currency trading institutions. Coinbase, bitfinex, poloiex, hotcoin.com, OK, coin security exchange and other platforms all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
why is the license so important for the trading platform? First of all, people in the traditional foreign exchange circle know that the foreign exchange platform has the importance of supervising the license. Even such a traditional mode will create a future trading platform. Therefore, the license plate is bound to become a trend of development
the current blockchain project compliance is divided into two sections:
first, blockchain coin issuing project compliance: Foundation + legal compliance opinion
often referred to as ICO, IEO, etc. first of all, we build overseas entities. Generally speaking, most coin issuing entities choose Singapore foundation. It is a non-profit company in the form of XX Foundation Ltd. Finally, a legal compliance opinion is issued by a Singapore lawyer. The content of the legal opinion includes the amendment of a white paper and the token non securitization certificate, which is mainly to make the project comply with the laws of Singapore. This legal opinion is also needed for the later docking of the project with the currency on the exchange< Second, blockchain exchange project compliance: subject company + digital currency trading license:
license is one of the important compliance documents of the platform. It is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and applied for the Canadian license, the license was pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major platforms have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses
for example: MSB digital currency exchange license in the United States, MTR digital currency + Wallet al license in Estonia, austrac digital currency license in Australia, etc
the role of MSB license in the United States:
1. American MSB license is famous, packaging platform and good publicity
2
3. It can increase the trust of customers, enhance their visibility, and make the platform develop better and faster in compliance
advantages of MSB license
1. Investor recognition - Corporate Law and financial instry regulation in the United States are very perfect. With a U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Become a first-line platform -- MSB license is also a standard license for global digital currency trading institutions. Coinbase, bitfinex, poloiex, hotcoin.com, OK, coin security exchange and other platforms all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
why is the license so important for the trading platform? First of all, people in the traditional foreign exchange circle know that the foreign exchange platform has the importance of supervising the license. Even such a traditional mode will create a future trading platform. Therefore, the license plate is bound to become a trend of development
8. Domestic blockchain projects are still relatively conservative. Blockchain projects always involve a derivative instry, that is, digital currency transactions. If domestic projects are not allowed, what should we do? You can register a non-profit foundation in Singapore and add relevant legal opinions to prove that the project you are doing does not violate the current laws and regulations of Singapore, such as Biyuan chain and Leyte coin
after registering the main body of the foundation, we still need to do later legal compliance, the main purpose is to draw a clear line between law and crime, but I said it doesn't count. Because digital token is indispensable for blockchain. To put it bluntly, digital currency drives the popularization of blockchain in China, but what's the fact? Digital currency is just a small application of blockchain technology
e to the particularity of the instry, At present, there are no formal laws and regulations to restrict its development, involving a wide range of violations:
pyramid selling
illegal fund-raising
money laundering
absorbing public deposits
illegal operation
transnational foreign exchange crimes
providing more convenience for terrorist financing
therefore, different countries in the world have different attitudes towards blockchain, and China is explicitly prohibited, So we all go overseas to develop projects, such as Singapore and Thailand. First, the local laws and regulations are required. Who has the final say in the matter of whether the project is legal? There are two ways: to apply for a formal digital transaction license or to rely on a legal opinion issued by a lawyer. At present, the latter is in the majority, easy to operate and low cost.
after registering the main body of the foundation, we still need to do later legal compliance, the main purpose is to draw a clear line between law and crime, but I said it doesn't count. Because digital token is indispensable for blockchain. To put it bluntly, digital currency drives the popularization of blockchain in China, but what's the fact? Digital currency is just a small application of blockchain technology
e to the particularity of the instry, At present, there are no formal laws and regulations to restrict its development, involving a wide range of violations:
pyramid selling
illegal fund-raising
money laundering
absorbing public deposits
illegal operation
transnational foreign exchange crimes
providing more convenience for terrorist financing
therefore, different countries in the world have different attitudes towards blockchain, and China is explicitly prohibited, So we all go overseas to develop projects, such as Singapore and Thailand. First, the local laws and regulations are required. Who has the final say in the matter of whether the project is legal? There are two ways: to apply for a formal digital transaction license or to rely on a legal opinion issued by a lawyer. At present, the latter is in the majority, easy to operate and low cost.
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