Shanghai Central Bank investigates virtual currency

1. After the people's Bank of China announced the launch of digital currency as soon as possible in January this year, Zhou Xiaochuan, governor of the people's Bank of China, recently gave a detailed description of the development of digital currency in an interview with Caixin weekly
Zhou Xiaochuan pointed out that as legal tender, digital currency must be issued by the central bank. The issue, circulation and transaction of digital currency should follow the idea of integration of traditional currency and digital currency, and implement the same principle of management. That is to say, q-coin and the like are definitely not good
as for whether to use blockchain technology to create digital currency. Zhou Xiaochuan said that the blockchain technology is an optional technology, but so far, the blockchain still occupies too many resources. Whether it is computing resources or storage resources, it can't cope with the current transaction scale, and whether it can be solved in the future depends on it. Zhou Xiaochuan said that in addition to blockchain technology, the digital currency research team of the people's Bank of China has also concted in-depth research on other related technologies involved in digital currency, such as mobile payment, trusted and controllable cloud computing, cryptographic algorithm, security chip, etc
it is certain that the digital currency issued by the central bank can never be the same as bitcoin, Ruitai, Qianjin card and other digital currencies. The digital currency issued by the central bank is just the digital currency.

2. The central bank investigates whether bitcoin is fake, and the central bank mainly investigates trading platforms. China's bitcoin transaction has accounted for more than 90% of the global transaction volume, and bitcoin transaction has been occupied by China, which controls the bitcoin market
the central bank recently stayed in the three major bitcoin trading platforms in China mainly to cool bitcoin, because the price of bitcoin has fluctuated greatly recently. Leverage, financing and currency have long been criticized in China. This investigation is expected
the central bank's investigation of the three platforms will affect all digital currencies, but it has little impact on the digital currencies on the coin Ying China platform, all of which are mortgaged by real assets.

3. The main purposes are as follows:

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4. Protect the property rights and interests of the public, protect the legal tender status of RMB, prevent the risk of money laundering and maintain financial stability
5. Avoid excessive speculation in the name of "virtual currency" for virtual commodities such as bitcoin, which will damage the public interest and the legal tender status of RMB.

4. Issuing digital currency can rece the high cost of issuing and circulating traditional banknotes, improve the convenience and transparency of economic transactions, rece money laundering, tax evasion and other illegal and criminal acts, enhance the central bank's control over money supply and currency circulation, better support economic and social development, and help the comprehensive realization of inclusive finance. In the future, the establishment of digital currency issuance and circulation system will also help China build a new financial infrastructure, further improve China's payment system, enhance the efficiency of payment and clearing, and promote the upgrading of economic quality and efficiency.

5. Zhou Xiaochuan, the governor of the central bank, said at the Boao Forum for Asia that virtual currency is not a currency approved by the central bank and can not be banned. Since digital currency is not the currency initiated and approved by the central bank, it can not be banned. Digital currency belongs to digital assets, which can be freely traded between indivials. Therefore, digital currency is not MLM, not capital disk, but a kind of financial investment.

6. It's not a fraud. It's a new digital Renminbi issued by the state (actually he is a disguised virtual currency). It is operated by the designated operation agencies (Alipay and large national banks) and exchanged with the public.

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Recently, it has been rumored that central bank officials from Shanghai and Beijing have begun to investigate virtual currency trading venues, and it is likely that the ban on virtual currency trading will be lifted. After the reporter to a special rectification of Internet financial risk staff verification, the relevant reports and facts do not match

instry insiders suggest that the majority of consumers and investors should enhance their awareness of risk prevention. If they find that they are involved in illegal financial activities in the notice, they can report to the relevant regulatory authorities or China Internet Finance Association. If they are suspected of crimes, they can report to the public security organ

8. For example, you are the head of a village. In your village, only the money printed by your family can buy things and circulate. You can print as much as you want. Suddenly, the second eldest brother next door got angry and said that your family was printing money in such a disorderly way, which made things more and more expensive. He managed to earn more and more money in the village. He found that he was saving more and more money, but he just saved a lot of figures, because things were more and more expensive, So your second eldest brother issued a kind of digital encryption, decentralized digital currency. This kind of currency can't be added. There is a limited number of currencies. Every village has one more, and it won't be exploited by your family. At this time, are you out of stock?

9. In 2018, we will promote the in-depth transformation of monetary gold and silver work, further intensify reform and innovation, and solidly promote the research and development of the central bank's digital currency. We also said that we should strictly strengthen internal management and external supervision, and carry out the rectification and clean-up of all kinds of virtual currencies.