Why is block chain financing illegal

1. Recently, under the banner of "financial innovation" and "blockchain", some lawless elements in Hainan have absorbed funds by issuing so-called "virtual currency", "virtual assets" and "digital assets", thus infringing the legitimate rights and interests of the public. This kind of activity is not really based on blockchain technology, but hypes the concept of blockchain, illegal fund-raising, pyramid selling and fraud, which mainly has the following characteristics:
1. Obvious networking and cross-border. Relying on the Internet and chat tools for transactions, and using online payment tools to balance funds, the risks spread widely and spread quickly
Second, deception, temptation and concealment are strong. They use hot concepts to hype, fabricate various "tall and tall" theories, and some also use celebrity "big V" platforms to publicize. They use airdrop "candy" as temptation to claim that "currency value only rises but not falls", "investment cycle is short, income is high, and risk is low", which has strong bewitching. In practice, criminals illegally make huge profits by manipulating the price trend of the so-called virtual currency, setting profit and withdrawal threshold. In addition, some criminals also issue tokens under the guise of ICO, IFO, IEO, etc., or hype virtual currency in the way of IMO under the banner of sharing economy, which has strong concealment and confusion
thirdly, there are many kinds of illegal risks. Through public publicity, criminals use "static income" (currency appreciation profit) and "dynamic income" (development offline profit) as t to attract public investment, lure investors and development personnel to join, and constantly expand the fund pool, which is characterized by illegal fund-raising, pyramid selling, fraud and other illegal behaviors
this kind of activity takes "financial innovation" as a gimmick, and its essence is a Ponzi scheme of "borrowing the new to repay the old", so it is difficult to maintain the capital operation for a long time. The general public should treat the blockchain rationally, not blindly believe the promises, establish a correct monetary concept and investment concept, and effectively improve the risk awareness;

2.

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 authorization

3. Blockchain belongs to it technology, and finance is an application direction of blockchain
the core advantage of blockchain technology is decentralization, which can realize point-to-point transaction, coordination and cooperation based on decentralized credit in a distributed system without mutual trust by means of data encryption, time stamp, distributed consensus and economic incentive, so as to solve the high cost and low cost of centralized institutions Low efficiency and data storage insecurity provide solutions
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

4. It's not clear what kind of units are, but the research institute is definitely legal. Blockchain is so hot that it's OK to recruit a few people for research.

5. As long as it doesn't involve national comfort and personal privacy, you are legal

6. Blockchain finance is actually the application of blockchain technology in the financial field. Blockchain is a kind of underlying technology based on bitcoin, and its essence is actually a decentralized trust mechanism. Through sharing in distributed nodes to maintain a sustainable database, the security and accuracy of information can be achieved
with a simple understanding, blockchain technology can be imagined as a fully centralized and super secure database. The reliability technical scheme of collective maintenance of a data book in a centralized way integrates distributed architecture, P2P network protocol, encryption algorithm, data verification, consensus algorithm, identity authentication, intelligent contract and other technologies, which can solve the problems of low security and poor reliability existing in the centralized mode. Although blockchain can not guarantee 100% security, compared with the current data security technology, blockchain is a huge leap. Unlike the centralized database, the blockchain will not have a single point of failure
the BSC project in Puhua business school takes advantage of the full centralization of blockchain to customize the underlying technology of blockchain and build a data sharing platform based on blockchain technology. Relying on the advanced network security system, it fully integrates the new technology, new thinking and new mode of the Internet revolution era, and forms a new business model with the core goal of win-win of BSC business alliance member enterprises and their associated customers.

7. Ignore is directly added to the panel, and ultimately participate in the damage settlement
that is, the panel physical attack = {(weapon physical attack power + physical attack power enchant + double attack left slot + pet and all kinds of buff basic attack power bonus) x (1 + Weapon Mastery ratio)} x (1 + power) ÷ 250) + ignore physical attack 2]
actual attack settlement = basic attack ×[ 1 + (self is strong - monster is anti) ÷ 220] x skill percentage x monster physical defense damage rection x physical attack class increase rate + ignore attack x skill percentage x physical attack class increase rate X map forced damage rection

8.

At present, China's popular blockchain business is suitable to operate on the foundation nature of non-profit organization platform. At the same time, the Singapore government not only gives policy support, but also stipulates that the blockchain foundation can be registered and managed by acra to obtain legal issuance projects, which is one of the reasons why the Singapore foundation should be registered. And the developers of blockchain projects all know that the Singapore government supports the development of blockchain, the policy environment is good, the market is mature, mainly e to high cost performance, the follow-up legal services are perfect, and the price is reasonable

local lawyers in Singapore can issue relevant legal opinions to prove the compliance and legality of the project according to the needs of the project party. Advantages analysis of Singapore Foundation:

1. The most popular settlement area

2. The government has a clear regulatory attitude towards ICO

3. Close to China, open and friendly policy

4. Shaping corporate public welfare image

5. Reasonable price

registration of Singapore Foundation: provide the company name that needs to be registered, and the identity certificates of two members, One of them must be a Singaporean member, which can be provided by the agency, and then choose two business areas

1. Company Name: provide the company name (our company's name is free of charge) and get the name freely

1) must be an English name, and Chinese name registration is not accepted

2) can only be registered in English, ending with Ltd. or limited

3) registered capital: 1 Singapore dollar

4) business scope: our company provides project list for selection (no more than 2 items), and special instries need special approval from the government. Business scope

there are two kinds of charitable organizations

1) are associations, such as fellow townspeople's associations, student associations, etc., which mainly operate by collecting membership fees

2) are charitable funds, which mainly subsidize specific groups through social donations and financing,

information of shareholders and directors:

1) fill in according to the actual situation

2) share proportion

registration time: 15-20 working days

registration process of Singapore company:

signing agreement - providing establishment information - making signature document - signing completed - submitting to Singapore company for processing - completing registration - sending out

9. Blockchain is widely used in the financial field. At present, digital currency transactions are prohibited in China, while others are not. Some blockchain financial platforms use. Top domain names in the choice of domain names.

10. Dynamic adjustment, batch measurement and timely disposal
dynamic control: measurement at any time: financing amount and financing proportion: timely identification of risk signs, timely adjustment, financing period and risk pricing
control dynamic measurement of financing elements in advance