No gold for digital currency
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
since there is no specific financial regulation to regulate digital gold money suppliers, they operate in a self-regulation way. Digital gold money suppliers are not banks, so banking regulations are not applicable.
In 2020, the competition of digital currency is becoming more and more intense, and the new actions and new progress of various countries continue. Since 2014, the Central Bank of China has been promoting the research and development of digital currency, making it clear that digital RMB is mainly positioned as cash in circulation (M0). At present, digital RMB has been tested in Shenzhen, Suzhou, xiong'an, Cheng and the future Winter Olympic Games
Zhang Zhijun: the most basic payment carrier of digital RMB is mobile app. Of course, in order to enable people who do not use smart phones to use digital RMB, there can also be other carriers, such as smart payment card, which can be the same size as credit card, and even have password or biometric authentication functions, so that the holder can use it to pay, or recharge in some outlets. In fact, the process of digital RMB exchange can also be seen as a specific payment process, that is, using digital RMB to buy foreign currency or gold
Mu Changchun said that digital RMB is legal tender, which is equivalent to banknotes and coins. What banknotes and coins can buy, digital RMB can buy. Banknotes can buy gold and can be exchanged for foreign exchange. Of course, digital RMB can also be exchanged< In fact, the central bank has repeatedly stressed that the legal figure RMB is the currency in circulation, that is, the substitution of M0, which has the same legal compensation as RMB. Fan Yifei, vice governor of the people's Bank of China, once pointed out in the financial times that digital RMB is a legal tender in the form of numbers issued by the people's Bank of China. It is mainly located in cash in circulation. It has the characteristics of value and legal compensation. It does not calculate and pay interest, and the central bank does not charge for services such as exchange and circulation
among them, legal compensation means to pay all public and private debts in China in digital RMB, and no unit or indivial can refuse to accept them if they have the conditions to accept them. That is to say, digital RMB is an alternative to the existing paper currency RMB in circulation. In addition, he also stressed that from the management rules of M0, the issuance and circulation of digital RMB should be regulated according to cash
the reporter noted that the law of the people's Republic of China on the people's Bank of China (Revised Draft) issued by the central bank on October 23 clearly pointed out that "RMB includes physical form and digital form", which also provides a legal basis for the use of digital RMB in the future. In addition, "no unit or indivial may make or sell token tickets or digital tokens to replace RMB in circulation on the market."
in addition, Mu Changchun also introced the results of Shenzhen digital RMB pilot at this year's annual meeting of Financial Street Forum. He said that as of 24 o'clock on October 18, a total of 47573 people had received red envelopes, accounting for 95.15% of the total number of winners. Among them, 62788 transactions were paid with red envelopes, and the amount of red envelopes was 8764231.23 yuan.