The latest policy of us virtual currency

1. bitcoin has been regulated by the US government in the United States. The US Commodity Futures Trading Commission (CFTC) recently released a document saying that bitcoin and other virtual currencies are reasonably defined as commodities, just like crude oil or wheat. This means that bitcoin futures and options are subject to CFTC regulations and regulation. It is necessary to apply for a license to carry out bitcoin related business in New York State, otherwise it will be considered illegal. In California, the attitude of bitcoin and other virtual currencies is relatively friendly, but they need to be registered

in the United States, it is legal as long as we do not use virtual currency to carry out illegal activities. Fuyuan coin is registered in the United States, and treasure coin is also registered in the United States. However, according to relevant media reports, the Chinese Americans represented by Liu Longzhu are targeting an enterprise called Regal group. On September 29, the Chinese company in Los Angeles was seized. The company was accused of using a virtual currency called "treasure coin" to cheat investors by pyramid selling, and Jiang Kun's photo became their propaganda material. In mainland China, there are still people peddling "precious coins", but the peddler did not mention Jiang Kun to mainland buyers.

2. The Central Bank of the United States is the Federal Reserve System, and the Federal Reserve Bank is only one part of it. It has 12 branches all over the United States. As a member bank, it must pay reserves. These reserves are even their shares. Since most of the banks in the United States are private banks, it can be said that the Federal Reserve Bank is a private bank. However, these shareholders do not have the right to manage and make decisions, and these reserves do not pay interest. It's just a proof that you are a member bank. The Federal Reserve Bank has to guarantee for the member bank. Except for the National Bank, other banks can voluntarily decide whether to join or not. The real exercise of the power of the central bank, that is, the Federal Reserve System, mainly lies in the other two organs, the Federal Reserve Board and the Federal Open Market Committee. Their powers are entrusted by Congress, not to the president, but directly to Congress. The seven members of the Federal Reserve Board are nominated by the president and confirmed by the Senate. So the president can nominate who will be the chairman of the Federal Reserve, and then the central bank's policy will be directly responsible to Congress

3. Now the virtual RMB has also been issued, and the state's policy on virtual currency must strengthen supervision. In this case, we can agree.

4. I give all kinds of training than the open policy is really the country in order to promote the economy and improve people's quality of life.

5. Commonly used are the United States MSB, Estonia, Canada MSB, Australia austrac, which belong to the second category of high cost performance, Bermuda license is not clear, sorry.

6. A new resolution initiated by representative Adam kinzinger, a Republican from Indiana, has been submitted to the US House of Representatives, calling for a national policy on emerging technologies, including digital currency and blockchain technology
the resolution calls on the idea of bitcoin, but does not directly mention its name. Instead, it calls it "alternative illegal currency". Blockchain technology is the key point, which points out that this technology has the potential to "fundamentally change" the way trust and security are built on online transactions
but in fact, the United States has not taken action to formulate this rule. However, there is a global blockchain alliance R3 in the process of formulating the standard for the use of blockchain. Of course, blockchain is just a technology that can be used by anyone. In China, there is a project called decent, which is more avant-garde. It uses blockchain technology to create a decentralized content release, but it may encounter some problems in China.

7. The monetary system of the United States (1) the Central Bank of the United States the Federal Reserve System is the Central Bank of the United States, which was established on December 23, 1913. Its main responsibility is to ensure the security, flexibility and stability of the monetary and financial system of the United States

according to the Federal Reserve Act of the United States, member banks are required to pay 6% of their capital and surplus to the Federal Reserve Bank. The Federal Reserve Bank is required to pay a dividend of 6% of its paid in capital to its member banks every year, usually twice a year. As of December 31, 2006, the registered capital of the Federal Reserve Bank was US $13.536 billion, accounting for 51.2% of its total capital< According to the Federal Reserve Act of 1913, the United States set up reserve banks in 12 major cities, which became part of the Federal Reserve System. The responsibilities of the 12 regional reserve banks include the exchange of cheques for their member banks, recovery of damaged currency and issuance of new currency, evaluation of merger applications, discount loans to member banks in the region, review of state banks that are members of the Federal Reserve, analysis and reporting on local banks and economic conditions, As well as general banking and economic research and publication of some publications. The Federal Reserve Board is an important part of the Federal Reserve System. The Council consists of seven members. They are all appointed by the president of the United States and confirmed by the Senate for a 14-year term. The Federal Reserve Board, which is based in Washington, usually meets several times a week to discuss issues related to monetary policy and banking supervision< (2) U.S. dollar coins are issued by the U.S. Department of the Treasury, and have six kinds of values: 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 dollar; Dollar notes are issued by the Federal Reserve System of the United States. They are in denominations of one dollar, two dollars, five dollars, ten dollars, twenty dollars, fifty dollars and one hundred dollars< According to the Federal Reserve Act of the United States, the goal of monetary policy in the United States is to control inflation and promote full employment. At present, the operational target of the Fed's monetary policy is the federal funds rate
the US federal funds rate refers to the interest rate in the US interbank market, the most important of which is the overnight lending rate. This change of interest rate can sensitively reflect the balance and shortage of funds between banks. The Federal Reserve can directly affect the cost of funds of commercial banks by targeting and adjusting the interbank offered rate, and pass the balance and shortage of funds in the interbank market to instrial and commercial enterprises, thus affecting consumption, investment and national economy< The Federal Open Market Committee is the most important monetary policy-making department in the Federal Reserve System. It consists of seven members of the Federal Reserve Board and five governors of the regional reserve bank, of which the governor of the Federal Reserve Bank of New York is a fixed member. Generally speaking, the chairman of the Federal Reserve Board is the chairman of the Federal Open Market Committee, and the president of the Federal Reserve Bank of New York is the vice chairman. The committee usually meets in Washington every five to eight weeks to vote on specific monetary policy operations. The FOMC's policy directives and meeting summaries will be made public six weeks after the meeting< (3) the implementation of monetary policy in the U.S.
the main tools used by the U.S. Federal Reserve System to implement monetary policy include open market operation, discount rate and statutory deposit reserve ratio

open market business
the open market business of the federal reserve system includes buying and selling securities (usually government bonds (TB), asset-backed securities (ABS) and mortgage-backed securities (MBS)). These business tools are the most basic and main policy tools used by the Federal Reserve System to change the cost and availability of money and credit in the economy. The federal reserve system increases the reserve of the banking system by purchasing securities, so that banks can expand their loans and investments; By selling securities and withdrawing reserves from the banking system, banks' ability to lend and invest is reced<

discount loan
discount loan is the loan from the Federal Reserve to commercial banks and deposit taking institutions. When commercial banks and deposit taking institutions borrow from the Federal Reserve, the interest rate charged by the Federal Reserve is called discount rate. By adjusting the discount rate, the Federal Reserve can affect the reserve level of the banking system, and then the level of the federal funds rate

legal deposit reserve
adjusting legal deposit reserve is a very direct and powerful monetary policy tool. By adjusting the legal deposit reserve, the Federal Reserve injects or withdraws liquidity into the banking system, which directly affects the total amount of money.

8. In April 2012, China and South Korea bypassed the U.S. dollar and signed a trade agreement to settle accounts in local currency, which seriously shakes the status of the U.S. dollar in East Asia. The U.S. is afraid that China will create an Asian dollar, so the U.S. encourages the Philippines to send warships to detain Chinese fishermen on Huangyan Island, Japan's Shinzo Abe stood on the platform of the United States and claimed to nationalize the Diaoyu Islands
the US military attack on the Federal Republic of Yugoslavia is also a shock to suppress the euro zone
now it seems that the U.S. military containment of China has little effect, and China has further strengthened the cooperation and trade between ASEAN. However, the economies of the United States and Japan are increasingly declining in the containment of China
the United States has g a big hole for China with its loose monetary policy to make China jump in. At that time, the United States used this big hole to turn the ambitious instries acquired by Japan in the United States into nothingness. However, China did not jump in this hole and made a settlement in local currency. It is obvious that it can not get along with the United States. The big hole g by the United States has made a hole for the United States itself, The credibility of the dollar has fallen to an unprecedented low.

9. The Central Bank of the United States, namely the Federal Reserve Board (FRS), has long been responsible for the formulation and implementation of monetary policy in the United States. Monetary policy is the main macro policy tool for the United States to regulate and control the national economy and social development. According to the law of the United States, the goal of monetary policy is to achieve full employment, maintain the stability of market value and create a relatively stable financial environment. In the process of monetary policy implementation, the Federal Reserve actively uses relevant financial instruments to minimize the changes in interest rates and monetary credit, and strives to achieve the two goals of "full employment and stable market value". With the maturity and development of market economy, the monetary policy of the Federal Reserve has played an increasingly important role in macroeconomic regulation and control
the above contents are for reference only
response time: March 15, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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