Background of issuing digital currency

1. On November 13 this year, the official microblog of the people's Bank of China announced that the people's Bank of China has issued legal digital currency, and some institutions falsely use the name of the people's Bank of China to trade relevant digital procts under the title of "DC / EP" or "DCEP" on the digital asset trading platform. The central bank stressed that no legal digital currency (DC / EP) was issued and no asset trading platform was authorized to trade. Neither "DC / EP" nor "DCEP" traded in the market is legal digital currency, and the launch time of legal digital currency transmitted through Internet is inaccurate information<

at present, the so-called issuance of legal digital currency in the Internet, and the behavior of indivial institutions launching "DC / EP" or "DCEP" in the name of the people's Bank of China to conct transactions on the asset trading platform may involve fraud and pyramid selling. The general public should raise their risk awareness, not be partial to trust, and guard against interest damage
as early as September 4, 2017, the central bank and other seven departments jointly issued the announcement on preventing the financing risk of token issuance (hereinafter referred to as the announcement), pointing out that the issuance of virtual currency, ICO and other suspected illegal financial activities seriously disrupted the economic and financial order, and no organization or indivial may engage in the above activities illegally.

2. Since 2008, Nakamoto has proposed bitcoin, a peer-to-peer cash trading system. Since then, it has entered the eyes of the world.

3. At present, digital currency is not really in circulation in any country. In South America, there was a small country that wanted to issue its own sovereign digital currency, but there was no latest progress. Of course, China, Britain and other big countries have planned to issue digital currency, but it is still in a testing stage and has not really implemented it
the first country to recognize bitcoin as legal was Germany, which first defined bitcoin as an alternative currency. Of course, in the future, sovereign digital currencies may be popular, and digital cryptocurrencies such as bitcoin, Ruitai coin, Laite coin and vitality coin will become a supplement.

4.

The minimum penalty for the crime of organizing and leading pyramid selling activities is criminal detention, and the maximum penalty is fixed-term imprisonment of more than five years. Generally, fixed-term imprisonment is not more than 20 years

Article 224-1 of the criminal law:

in the name of marketing goods, providing services and other business activities, organizations and leaders require participants to pay fees or purchase goods and services to obtain the qualification to join, and form a hierarchy according to a certain order, and directly or indirectly use the number of development personnel as the basis for remuneration or rebate, so as to lure and encourage the development of enterprises Those who force participants to continue to develop pyramid selling activities that others participate in, defraud property and disrupt economic and social order shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years and shall also be fined

MLM in criminal law is different from direct selling. MLM in criminal law is a kind of criminal behavior, and the starting point of criminal behavior is low, which can more severely crack down on criminal behavior and prevent the occurrence of criminal behavior. And legal direct marketing is not MLM, so it will not be punished

Further information:

MLM originated in the United States in the late stage of World War II, took shape in Japan after World War II, and developed in China

In foreign countries, MLM and direct marketing have the same meaning, that is to say, there is only the concept of MLM in foreign countries. The main concept of foreign MLM is to use the word-of-mouth generated by customers' use of procts as the driving force, and let customers help dealers to promote procts and share part of the profits, that is, customer communication sales. This is different from the domestic concept of MLM

however, in China's criminal law, pyramid selling (Chinese style pyramid selling) is a false company, a fictitious proct, and everything is empty. It just lets you pull your head and draw a small commission from the membership fee or franchise fee

or control personal freedom, confiscate property, so that you can't contact the outside world, learn those MLM training materials every day, so that you can learn how to cheat people, and then make a list, telephone or letter invitation, showdown, follow-up, until you pay the membership fee or franchise fee in various ways

Chinese MLM is built on the basis of mind control, that is to say, you can organize MLM spontaneously after brainwashing through their MLM training; Others will control your personal freedom, confiscate everything, and force you to accept these lies

5. 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
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.