Digital currency protected by law

1.

In China, digital currency is illegal. According to the regulations, financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance financing and "virtual currency"

it is not allowed to underwrite insurance business related to token and "virtual currency" or include token and "virtual currency" in insurance liability. Financial institutions and non bank payment institutions shall report to the relevant departments in a timely manner if they find clues of violation of laws and regulations in token issuance financing transactions

extended information:

since the announcement on preventing the financing risk of token issuance was issued, any so-called token financing trading platform shall not engage in the exchange business between legal tender and token and "virtual currency", and shall not buy or sell tokens or "virtual currency" as a central counter party, It is not allowed to provide pricing, information intermediary and other services for token or "virtual currency"

for the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law

2. 1. Digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

2. Digital currency is a kind of unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form

warm tips: ① the above contents are for reference only, without any suggestions. The relevant procts are issued and managed by the corresponding platform or company, and our bank does not undertake the responsibilities of investment, cashing and risk management of the procts. ② There are risks in entering the market, so investment should be cautious. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can judge whether to participate in the transaction
response time: December 28, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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3.

The people's Bank of China has not issued digital currency for the time being, so there is no legal digital currency in China at present. At present, digital currency has not been recognized in China, let alone legal

at present, all kinds of digital currencies circulating in the market are basically on the edge of the law. China maintains a neutral attitude, but does not like speculation, which is also the basic attitude of the central bank{ RRRRR}

< H2 > development materials

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English and the alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency

4. First of all, based on China's relevant policies, ic0 projects and exchanges are all relocated abroad. If the issuance of foreign tokens has no impact on domestic civil or criminal law, then the laws or regulatory rules of other countries will apply, and will not be governed by domestic laws. Investors' rights protection or accountability are concted overseas
secondly, if rights are protected within the territory of our country, according to our legal system, legal liability can be divided into criminal liability, civil liability and administrative liability. In China, the issuance and financing of virtual currency is prohibited, and there is no relevant regulatory agency, so investors can only investigate the criminal and civil liabilities of the corresponding parties
1. Criminal responsibility
however, assuming that there are some cases that may involve criminal crimes, such as online breaking or even later returning to zero, futures trading being manipulated by the platform, and in line with the provisions on jurisdiction in China's criminal law, the corresponding legal provisions should be applied in combination with their criminal acts< According to the provisions of articles 6 to 9 of the criminal law on the principle of criminal jurisdiction, China's criminal jurisdiction can be divided into the following four categories:
(1) territorial principle: if one of the acts or results of a crime occurs within the territory of the people's Republic of China (including ships or aircraft), China's criminal jurisdiction shall apply unless otherwise specified by law< (2) principle of person: if a citizen of our country commits a crime stipulated in this law outside the territory of the people's Republic of China, the criminal law of our country shall apply. However, if the maximum penalty stipulated in this law is fixed-term imprisonment of not more than three years, he may not be investigated. The criminal law of the people's Republic of China shall apply to any state functionary or serviceman who commits any crime specified in this law outside the territory of the people's Republic of China< (3) principle of protection: If foreigners commit crimes against our country or citizens outside the territory of the people's Republic of China and the minimum penalty prescribed in this law is fixed-term imprisonment of not less than three years, the criminal law of our country can be applied, except those who are not punished according to the law of the place where the crime is committed< (4) general principle: This Law shall apply to crimes stipulated in international treaties concluded or acceded to by the people's Republic of China over which the people's Republic of China exercises criminal jurisdiction within the scope of its treaty obligations
for example, there are illegal means in breaking and manipulating the price of virtual currency in the exchange when it goes online. Although virtual currency does not belong to the category of securities recognized by our country, making profits through this illegal way may also violate the charges of illegal sale of token bills, illegal issuance of securities, illegal fund-raising and financial fraud in our criminal law, Then investors can take measures to protect their rights in China, such as reporting to the public security organs
2. Civil liability
in civil and commercial activities, we mainly follow the principles of equality, voluntariness, fairness and good faith. With the development of China's securities market, there are many civil cases in which investors defend their rights to A-share companies. However, because China has not yet included virtual currency into the scope of securities, there is no case of civil liability for manipulating the price of virtual currency, Therefore, it is difficult for investors to protect their rights through civil litigation
in addition, based on the relativity of civil legal relationship, even if the underlying assets and projects of overseas ic0 projects are in China, most of them have built overseas structures, so it is difficult for investors to break through the relative relationship and recover the actual project subject responsibility of ic0.

5. There is no digital currency issue

6. Yes, it must be maintained regularly, but so far, digital currency is illegal and not allowed.

7. It should be the cfmcoin platform, because many of the peripheral blockchain digital coins are on this platform, which is safe, has formal supervision, and has relatively free access to funds, so there is no big risk.

8. I want to ask BSCs, is setting currency legal? Do you accept legal protection? In this way, if money flowed into the market, it would be operated by the market and protected by law

9. Radars belong to the Swatch Group. They usually go to nasartal, but I think it's too troublesome. It's better to go to Chen Jian's studio