September 5 virtual currency rectification

1. There are two reasons for the prohibition of virtual currency trading by the state:
1. The price fluctuates violently and the consumer protection is lacking:
virtual currency is the proct of network, and the digital information flowing in the network is beyond the control of all people. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code<
2. Avoiding supervision and becoming the "accomplice" of criminal activities
virtual currency transaction is not protected by law:
virtual currency transaction is not illegal, and it is not illegal to invest in virtual currency. But how to get involved in virtual currency transactions is illegal and illegal. It may be suspected of illegal fund-raising.

2.

It is illegal to issue virtual currency privately

According to Article 29 of the regulations of the people's Republic of China on the administration of RMB, no unit or indivial is allowed to print or sell token tickets to replace RMB in circulation on the market

In addition, the "emergency notice of the State Council Office for rectifying unhealthy tendencies in the instry, the State Economic and Trade Commission and the people's Bank of China on prohibiting the issuance and use of various token certificates (cards)" also strictly prohibited similar issues

extended data

virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"

market formation

the Internet has led to the emergence of a new market, which is a virtual market based on cyberspace. The Internet provides a lot of communication places for consumers, and also provides business market for enterprises. Enterprises must change from proct centered to service centered to customer centered. With the development of computer artificial intelligence technology and database technology, enterprises can conveniently collect customers' information, understand customers' needs in time, change business strategies and grasp economic arteries in real time

With the rapid development of computer and network communication technology, the application of Internet technology has graally penetrated into various fields of human activities, and the unlimited business opportunities that it contains make businesses turn their eyes to e-commerce. E-commerce is penetrating into all aspects of social and economic life at a speed that people can hardly imagine

the traditional finance is also closely watching this irresistible trend of global economic integration and networking. As a result, value-added services take art as the selling point and can be regarded as commodities; The sword in the game is not a brand-new financial services business philosophy - e-finance came into being

from the historical development process, to understand e-finance, we must start from the electronic finance and e-commerce. The so-called e-financialization means that financial enterprises adopt modern communication, computer, network and other information technology means in addition to Internet technology to improve the work efficiency of traditional financial service business, rece operating costs, realize the automation of financial business processing, informatization of financial enterprise management and scientific decision-making, and provide customers with faster and more convenient services, And then enhance the financial enterprise is the behavior of market competitive advantage

e-finance is a transcendence of financial electronization. Different from the electronic finance, the main technical basis of e-finance operation is the increasingly perfect Internet technology. Due to the characteristics of global connectivity, openness, quickness and low marginal cost of Internet technology, e-finance strengthens the restructuring and innovation of financial services business based on Internet technology, so that customers are free from the restrictions of business hours and places, and enjoy all kinds of high-quality and low-cost services provided by financial enterprises anytime and anywhere

with the development of Internet, the form of money is becoming more virtual, and there is an electronic money that only exists in the form of electronic signal

reference source: Network: virtual currency

3. Lack of supervision, illegal use, illegal fund-raising phenomenon! Currency not issued by the state is not legal tender!

4. We will continue to strengthen our efforts to crack down on money laundering of virtual currency. Because virtual currency is illegal in our country and not protected by law, it is necessary to crack down on it.

5.

There are two reasons for the prohibition of virtual currency trading by the state:

1. The price fluctuates violently and the consumer protection is lacking:

virtual currency is the proct of network, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code

bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses

2. Evade supervision and become the "accomplice" of criminal activities:

bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"

the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value

extended information

virtual currency transactions are not protected by law:

according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion

in terms of nature, virtual currency should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law

6.

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

7.

Recently, the people's Bank of China held a national teleconference on money and gold and silver work in 2018. Fan Yifei, vice governor of the people's Bank of China, pointed out at the meeting that this year we should solidly promote the research and development of digital currency of the people's Bank of China, strive to improve the level of cash service, carry out the rectification and clean-up of all kinds of virtual currency, closely communicate and cooperate with relevant departments, and vigorously rectify the chaos in the field of cash circulation

Fan Yifei pointed out that the current work of currency gold and silver is facing new challenges, the traditional business environment has undergone major changes, the development of digital economy, the diversification of means of payment and the change of the public's habit of using banknotes have had a profound impact on the issuance and circulation of RMB, and the public has put forward new and higher requirements for the level of cash service“ The central bank's monetary gold and silver work needs to be continuously deepened in serving the real economy, effectively promoted in improving services for people's livelihood, and comprehensively strengthened in preventing and defusing risks. "

"commercial banks should give full play to the pivotal role of cash delivery and withdrawal, further do a good job in the issuance of ordinary commemorative coins, and effectively improve the public satisfaction; Further strengthen the cash analysis, improve the level of cash management, strengthen the management of large amount of cash, and effectively protect the people's demand for small denomination RMB; We will further strengthen the anti-counterfeiting work, strengthen internal control and management, and constantly improve the ability of employees and cash machines to intercept counterfeit money. " Fan Yifei said

8.

According to the official announcement, digital assets and RMB recharge functions will be closed at 12 noon on September 27, and all trading functions will be closed at 12 noon on September 30. So far, bitcoin trading was officially sentenced to death

some people applaud the state's move to control bitcoin transactions, believing that this money laundering tool should have been closed long ago the invention of bitcoin in the United States disturbs the Chinese market. We should learn from Russia's ban on bitcoin. Although bitcoin makes money, it is not good for the development of the country because it is divorced from the real economy. Many young people are addicted to bitcoin and lose both money and people
however, at present, the state only restricts it, but it has not been completely banned. Big exchanges can not provide bitcoin exchange, so many of them go underground, making it more difficult to control
for young people, the state has banned trading, so it is too risky to re-enter the bitcoin market, so they should be cautious to intervene, and regret if they break the law