Electronic currency and digital currency crime
1、 Different definitions:
1. Electronic currency:
refers to the currency paid by electronic means
2. digital currency:
is a virtual currency based on node network and digital encryption algorithm
Electronic currency: Based on computer technology, it can be widely used in the fields of proction, exchange, distribution and consumption. It has many functions such as financial savings, credit and non cash settlement2. Digital currency:
e to some open algorithms, digital currency has no issuers, so no one or institution can control its issuance; Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough
Third, the same point:the circulation mode of e-money and digital money is two-way circulation
extended data
e-money is the virtualization of the value scale of real money and the function of payment means. It is a kind of money without monetary entity. Electronic currency is an invisible currency based on highly developed electronic technology
the value of e-money is transferred from the consumer to the seller through the sales terminal, and then the seller redeems the money. The e-money held by the merchant is sent to the e-money issuer to redeem the money, or to the bank. The bank debits the corresponding amount on its account, and then the bank settles with the issuer through the clearing institution
electronic money can transfer money value directly among the holders. It does not require the intervention of third parties, such as banks. This is also the essential difference between electronic money and traditional cash card and transfer card. p>
1. Application of different
digital currency: fast, economic and safe payment and settlement; Bill finance and supply chain finance; The real right of collateral is digitalized
e-money: the seller sends the buyer's payment instructions to the seller's acquiring bank through the payment gateway; The acquiring bank obtains the authorization from the issuing bank through the bank card network, and sends the authorization information back to the seller through the payment gateway; After obtaining the authorization, the Seller shall send the buyer the shopping completion information. If payment acquisition and payment authorization cannot be completed at the same time, the seller should send payment acquisition request to the acquiring bank through the payment gateway, and transfer the transaction funds from the buyer to the seller's account. The final inter-bank settlement is completed by the payment system between banks
2. Different characteristics
digital currency is characterized by low transaction cost, fast transaction speed and high anonymity
e-currency is characterized by anonymity, saving transaction cost, saving transmission cost, small holding risk, flexible and convenient payment, anti-counterfeiting and anti repetition, and non traceability
Digital currency can be divided into three categories: completely closed, unrelated to the real economy and only used in specific virtual communities, such as world of warcraft gold; It can be purchased in real currency but not converted back to real currency, and can be used to purchase virtual goods and services, such as Facebook credit; It can exchange and redeem with real currency according to a certain ratio. It can purchase both virtual goods and services and real goods and services, such as bitcoine-money: e-cash based on the Internet environment and keeping the binary data representing the value of money in the hard disk of the computer terminal; An electronic wallet that keeps the value of money in an IC card and can be circulated out of the bank payment system
It is illegal to buy and sell digital currency in China
according to the announcement on preventing the financing risk of token issuance jointly issued by the central bank and other seven ministries and commissions, the announcement points out that 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 tokens or "virtual currency" as the central counterparties, It is not allowed to provide pricing, information intermediary and other services for token or "virtual currency"
the announcement points out that token issuance financing refers to the so-called "virtual currency" raised from investors through illegal sale and circulation of tokens. In essence, it is an unauthorized illegal public financing behavior, suspected of illegal sale of token tickets, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal and criminal activities
extended information:
the central bank said that the so-called "digital currency" in the market is not legal digital currency:
the central bank's monetary Bureau issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that recently, indivial enterprises falsely use the name of the central bank, The relevant digital procts are labeled as "authorized issuance by the people's Bank of China", or the central bank's digital currency promotion team is falsely claimed, in an attempt to deceive the public and take the opportunity to make huge profits
the central bank said that the central bank 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. The central bank also suggested that 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
in fact, virtual currencies such as bitcoin and lightcoin are representatives of the so-called digital currency. The central bank said in 2016 that it was studying China's legal digital currency. Yao Qian, director of the digital currency Research Institute of the people's Bank of China, previously told the media that the prototype scheme for the central bank to issue legal digital currency has completed two rounds of revision, and is expected to be tested in relatively closed application scenarios such as the bill market in the future, but there is no clear timetable for its launch
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
according to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to China's digital currency regulatory framework, investors have the freedom to participate in digital currency transactions at their own risk
warm tips: the above information is for reference only. Before investing, it is recommended that you first understand the risks existing in the project, and understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
response time: December 11, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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e-money: in fact, it is the electronization of legal currency, including our common bank card, online banking, e-cash, etc; There are also third party payments developed in recent years, such as Alipay and WeChat payment. No matter what the form of these electronic money is and through which institutions it circulates, its original source is the legal money issued by the central bank
virtual currency: virtual currency refers to non real currency, and its existence state is intangible. The most important difference between virtual currency and electronic currency in narrow sense is the difference of issuers. Virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. For example, game currency, q-coin, and ticket counting are mainly limited to circulation in a specific virtual environment
digital currency: a digital currency that applies the latest digital network technologies such as blockchain and has the characteristics of Distributed Accounting, unique encryption technology and decentralized settlement. Of course, digital tools with these characteristics must be supported by national credit if they want to become sovereign currency or legal tender
commonly referred to as Q / currency and bitcoin, all belong to virtual currency. Compared with digital currency, the most fundamental difference lies in the difference of issuers. Virtual currency is the electronization of illegal currency. The issuer is not the central bank, and it can only circulate in a specific virtual environment, such as Tencent Q / currency and other game currencies; Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency, bitcoin is illegal digital currency.
legal representative: Zou Zedong
time of establishment: November 2, 2017
registered capital: RMB 5 million
Instrial and commercial registration number: 440300202801137
enterprise type: limited liability company
address: 1708-1, 17th floor, Tianli Central Plaza, Haide Third Road, Yuehai street, Nanshan District, Shenzhen City
2. Electronic currency and its characteristics
3. Parties to electronic payment and their rights and obligations
4. Legal issues arising from electronic payment
5. Supervision of electronic payment
electronic payment is also known as electronic funds transfer, Payment is a process of transferring funds from the payer's account to the payee's account in order to pay off the relationship between creditor's rights and debt. The evolution and development of payment instruments and payment system are consistent with the evolution of human civilization. At the end of 1950s, when computers were applied in banking business, some banks in developed countries established electronic payment systems for high-speed transfer of funds by using computers, terminals, electronic information networks and other electronic communication equipment
electronic payment system has changed the traditional way of payment and settlement, reced the cost and improved the efficiency, thus it has developed rapidly. Many countries have established large amount electronic payment system, POS system and ATM system which mainly serve consumers
as a means of payment, after going through the physical, precious metal and paper carrier, the most eye-catching e-money appeared in the field of payment. The emergence of e-money has greatly broken through the time and space constraints of the real world, and the wide application of the Internet in people's life and work makes people can use e-money to deal with economic affairs faster
the new payment instruments and payment systems not only bring people high efficiency, but also have a strong impact on the traditional legal system. Countries and international organizations around the world pay close attention to the electronic currency and electronic support system, and issue corresponding laws
Data
· according to the news from China UnionPay, in 2004, China's electronic payment transaction volume increased by 80%, reaching 18 trillion yuan. The amount of inter-bank transactions of UnionPay cards is estimated to exceed 700 billion yuan, of which more than 400 billion yuan comes from bank credit cards
· more than 80% of U.S. dollar payments are made by electronic means, and about 20000 U.S. dollars are transferred every day through the Federal Reserve's electronic funds system (fdewire) and the clearing interbank payment system (chips)
· in 2004, the B2C online payment transaction volume of ICBC exceeded 10 million, and the transaction amount exceeded 2.5 billion yuan, increasing by 49% and 78% respectively over the previous year. In 2000, only 879 transactions were made, The transaction amount is only 110000 yuan.
relevant laws and regulations
judicial interpretation · explanation on Several Issues concerning the specific application of laws in handling cases of fraud by using credit cards
departmental rules · opinions of the people's Bank of China, the development and Reform Commission, the Ministry of public security, the Ministry of finance, the Ministry of information instry, the Ministry of Commerce, the State Administration of Taxation, the China Banking Regulatory Commission and the State Administration of foreign exchange on promoting the proction of bank cards Some opinions on the development of bank card instry (Exposure Draft)
"guidelines for security assessment of e-banking (Exposure Draft)"
(1) at the macro level, there are legal risks, systematic risks and consumer protection issues. At present, the legislative problems of e-commerce and e-payment have not been solved, the concept of e-currency and related provisions need to be clarified, and many laws and regulations have not been followed up. Secondly, there is a systemic risk caused by the collapse of a single issuing institution. If a certain issuing institution loses confidence in e-money e to its poor management, other e-money issuing institutions will also face run risk. Moreover, in the absence of standardized supervision, it is difficult for the public to effectively identify the qualification and credit level of issuers. How to effectively prompt risks and protect the rights and interests of the public has become a difficult problem. In addition, the concealment, rapidity and cross-border nature of Internet payment make e-money an inevitable money laundering tool for criminals
(2) at the micro level, there are technical risks and credit risks in e-money issuers. The issuers of e-money in China include banks, non bank financial institutions, Internet enterprises and other enterprises. Due to the weak financial professional foundation of some issuers, especially the lack of mandatory technical security standards in China, there are serious management loopholes and security risks in e-money issuers. System software or hardware failures will affect the availability of e-money. Secondly, the unreasonable structure of assets and liabilities and high concentration of investment will lead to the lack of liquidity and the risk of default. In addition, the payment and circulation of e-money rely heavily on all kinds of networks, and there are all kinds of operational risks, such as deliberate embezzlement of other people's accounts, internal crimes of issuing institutions and malicious intrusion of hackers, which will damage the interests of e-money holders. Bitcoin, Ruitai and other digital currencies are suitable.