August 24 crackdown on digital currency

1. China's law on the supervision of digital currency is still a blank. Digital currency is in a gray area in China. If it is not prohibited by law, it can be used. However, there are still some normative provisions on digital currency in China
at the end of 2013, the central bank and other five ministries and commissions jointly issued the bitcoin risk notice, which clearly defined bitcoin as a special Internet commodity, and people can buy and sell it freely at their own risk. But it denies its monetary attribute. At this stage, bitcoin cannot and should not be used as currency
Ruitai, Qianjin card, Laite and other digital currencies are all applicable to the definition of bitcoin. Digital currency can exist as a commodity.

2. It's not illegal to issue digital currency in China. It doesn't need the next three years. Now people have already issued digital currency. For example, Ruitai, bitcoin, Yuanbao and sandcoin are all digital currencies issued by domestic companies. But if not

3. No matter from personal point of view or from Yi Gang's point of view, regarding digital monetary policy, from the standpoint of the central bank, it has revealed:
first, to maintain the continuity of monetary policy, not to release water, not to shrink abruptly
Second, it will not change the fact that bitcoin is not legally recognized
thirdly, strengthen supervision, pay attention to safety and maintain stable and neutral development
Fourth, to serve the development of the real economy
considering the consistent policy of the Chinese government on digital currency, maintaining stability and continuity should be the current orientation and trend< In addition, although Yi Gang pointed out at the Boao Forum for Asia that he would take a strict attitude towards digital currency, it does not mean that he will stop studying digital currency. At present, the central bank is studying how digital currency can serve the real economy in a better form, develop safely in the best form and avoid possible negative effects, Let digital currency serve the economy better
in spite of stricter supervision, it is still believed that the central bank will adopt a combination of easing and blocking measures for the development of digital currency in the future.

4. At present, the government does not support or suppress it. As long as it is a formal good project, the government will graally accept it. It is said that EES is good

5.

At the G20 meeting, different countries held different views on digital currency, some strongly resisted it, and some actively supervised it. Now let's take a look at the attitudes of the G20 countries towards digital currency

In a statement, the Canadian Securities Regulatory Agency (CSA) said that considering the whole process of ICO issuance, many ICO tokens meet the definition of securities and require them to comply with the securities law. In addition, the CSA noted that ICOS may also be derivatives, subject to derivatives laws passed by Canadian securities regulators, including trade reporting rules. Regulators said they welcome companies that are about to conct ICO to enter the "regulatory sandbox" to test new financial procts in a limited environment

India

the securities and Exchange Commission of India is planning guidelines for the regulation of the bitcoin market in India. In addition, the securities and Exchange Commission of India set up a financial regulatory commission and held meetings with Reserve Bank of India (RBI) officials. The SEC also plans to regulate whether bitcoin derivatives and other cryptocurrencies are used to raise funds illegally

6. In essence, there is no difference. The success of a coin does not mean that it is valuable, it only means that the hype means of its issuing team have worked, or it happens to meet the hype conditions needed by the current market, that's all.