Digital currency legislation
It's illegal
the central bank indicated that it has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency
In addition, the so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud
extended information:
virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. This kind of virtual currency is mainly limited to circulation in a specific virtual environment. Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency
in 2013, the central bank, together with five ministries and commissions, issued the notice on prevention of bitcoin risks, which clearly defined non legal digital currencies such as bitcoin as virtual commodities, which do not exist in the form of currency and legal currency
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
A few days ago, some media reported that in the future, once the legal digital currency really runs, the application scenarios will penetrate into all aspects of social life, but its real launch will take time
At the same time, the issuance of legal digital currency will greatly increase the number of point-to-point transactions, bypassing the original regulatory system to a certain extent, which is easy to facilitate illegal transactions. As digital currency makes it very convenient to convert deposits into cash, financial panic and financial risk will accelerate the spread once they occur, which increases the difficulty of supervision In addition, in the process of using legal digital currency, a large number of user data and transaction information will be obtained. How to store and manage these data to prevent the disclosure and illegal use of user information is also an important challenge. No matter from the perspective of technology or security, it is difficult to have a great impact on monetary policy and payment mode in the short termArticle source: bit110 network
the United States is a federal country, and each state has different attitudes towards virtual currency. Enterprises in New York State need to apply for a license to carry out virtual currency related business. California state recognizes the legality of virtual currency, but needs to carry out legal registration. Fuyuan coin is the legal registration in California.
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