The main harm of virtual currency
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
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As a proct of e-commerce, virtual currency is playing a more and more important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers. Since 2004, the discussion on whether virtual currency represented by Q currency will impact RMB has been concerned by all parties. But officials have not been clear about this. The trading mode of virtual currency also expanded rapidly. A series of events triggered the attention of the community to the virtual currency. People have expressed their views on it. Some people think that virtual currency will have an impact on RMB, so we should take compulsory measures to prohibit the issuance of virtual currency; Some people hold a reserved attitude that virtual currency will not have an impact on RMB and should not stifle the development vitality of commercial organizations too early. Zhang Jie of Huawei group thinks so
with the continuous progress of technology, electronic payment (including electronic money) not only changes people's payment habits, but also imperceptibly changes people's consumption habits and promotes the expansion of consumer credit. It is necessary to pay close attention to the innovation of the form, the evolution of the nature, the difference of the operation mode and the possible impact on the credit risk and moral hazard of this new thing, and properly supervise it. But the more important thing is to give the market main body corresponding development space, avoid strangling the development vitality of the corresponding business organization in the early stage of market development. Therefore, the best way to treat e-money is to observe its changes and strengthen research. In the face of such remarks as "q-coin impacts the RMB financial market", we need to discuss them in the context of scientific and technological progress. The key to understand the problem is how to design relevant policies and encourage the development of electronic payment instruments such as electronic money, rather than the harm of speculative virtual money and electronic money. We call for strengthening supervision
According to reports, hot concepts such as "original stocks, charity, consumer rebate, virtual currency" and "blockchain, crowdfunding" are often used as gimmicks by pyramid schemes. In 2017, in the cross-border network pyramid selling case of "Vicat" detected by Zhuzhou Public Security Bureau in Hunan Province, "Vicat" played with the concept of "virtual currency"
in September 2017, seven ministries and commissions, including the people's Bank of China, jointly issued an announcement, stressing that no organization or indivial may illegally engage in token issuance and financing activities. All banking institutions and non bank payment institutions shall not carry out business related to token issuance and financing transactions. The people's Bank of China pointed out in the relevant risk warning that it has not issued legal "digital currency", nor has it authorized any institution or enterprise to issue legal "digital currency". The so-called "digital currency" in the market are all non legal "digital currency". The so-called "digital currency" launched by some institutions and enterprises or the promotion of the central bank's issuance of "digital currency" are suspected of fraud or pyramid selling. Source: Legal Daily
As a proct of e-commerce, virtual currency is playing a more and more important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers
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fraud
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impact on financial system
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network security problems
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solutions
with the continuous progress of technology, electronic payment (including electronic money) is changing people's payment habits, but also changing people's consumption habits, promoting the expansion of consumer credit. It is necessary to pay close attention to the innovation of the form, the evolution of the nature, the difference of the operation mode and the possible impact on the credit risk and moral hazard of this new thing, and properly supervise it. But the more important thing is to give the market main body corresponding development space, avoid strangling the development vitality of the corresponding business organization in the early stage of market development. Therefore, the best way to treat e-money is to observe its changes and strengthen research. In the face of such remarks as "q-coin impacts the RMB financial market", we need to discuss them in the context of scientific and technological progress. The key to understand the problem is how to design relevant policies and encourage the development of electronic payment instruments such as electronic money, rather than the harm of speculative virtual money and electronic money. We call for strengthening supervision
(1) from the analysis of the impact on the amount of money, although it is difficult to analyze the extent to which the network currency scheme creates money in the case of lack of information
however, most of the network currency systems operate in the prepaid mode, that is, issuing network currency when the real currency is exchanged in and withdrawing the currency when the real currency is exchanged out, which has limited impact. In the famous network currency scheme, the money supply is stable and the supply is small, but we still need to be vigilant whether it can ensure that the money supply will maintain a stable level in the long run, and the impact of the change of exchange rate between network currency and real currency.
however, once it is legally linked with fiat money, it means that fiat money has the obligation to convert virtual money into fiat money. This is very dangerous
because there is no limit to the issuance of virtual currency, once there is a legal link, it is equivalent to the unlimited issuance of legal currency
although QQ coin seems to have the function of currency and can buy a lot of things on QQ, in the final analysis, it is all virtual things, and its essence is commodity.