Is China's virtual currency trading platform closed

1.

On the evening of September 14, bitcoin China's official website announced that according to the spirit of the document issued on September 4, bitcoin China digital asset trading platform stopped new user registration from September 14; On September 30, the digital asset trading platform will stop all trading business

except bitcoin China, the other two platforms have not released relevant announcements yet. In response to reporters, Huo coin said that it has not received any clear documents or notices about the content of news reports. Okcoin said that the official announcement of okcoin should be taken as the standard

virtual currency has a long way to go and needs further supervision

2.

This situation must be timely feedback to customer service, to retrieve

if bitcoin is stored in the account of the exchange, all the coins are in the big account of the exchange. If the exchange stops trading or goes bankrupt, all the coins belong to the actual controller of the exchange (the person who has the key of the big account)

therefore, if there are official problems in the exchange, we must contact the official customer service in time to retrieve them. In addition, digital assets, blockchain and other technologies will have unpredictable effects, and problems in the development process need to be standardized

extended information:

people who really own bitcoin do not store them on the Internet, but store them on the hard disk. Bitcoin's code is open source, which means that technicians can modify the code to proce a continuous stream of virtual currency

which breaks through the "limited amount" attribute of bitcoin. These virtual currencies can be exchanged with fiat currencies. For example, bitcoin can be exchanged into yen, and yen can be exchanged with almost all fiat currencies in the world

in this case, if the number of virtual currencies increases arbitrarily, there will be problems in the whole international monetary system. Therefore, on September 4, 2017, the central bank stopped the exchange function of the token trading platform, especially the exchange function with legal tender

3.

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

4. Yes, the current policy is like this. Many trading platforms have been closed

5.

Last night (September 15), Huo yuan.com and okcoin announced that they would close RMB trading on October 31. So far, all the three major domestic bitcoin trading platforms, which are jointly known as bitcoin China, have been spared

in fact, yesterday morning, there was a circulation of "requirements for the cleaning up and rectification of virtual currency trading venues in Beijing", which clearly pointed out that an announcement should be issued before 24 o'clock yesterday to specify the final time to stop all virtual currency transactions, and announced the immediate stop of new user registration. It also requires the trading place to report to the financial office of the district where the registration place is located daily the operation situation and the progress of the clearing work before completing the clearing work

as soon as the news came out, the price of bitcoin dived again, and the price of bitcoin instantly dived to RMB 17010.9. However, as of the time of press release, the price of bitcoin has returned to nearly 20000 yuan

6.

I will. If the digital trading exchange suddenly closes, then all the currencies inside will be gone

digital currency will appreciate with the increase of the number of participants in the scam. In the cycle of digital currency appreciation, the number of participants who can obtain digital currency will also increase, and the participants, including the lowest level participants, will also gain. However, when they enter the cycle of devaluation, the bottom level participants often lose a lot

in 2017, the Internet Finance Association of Jiangsu Province issued the "internet pyramid selling identification guide", which named 26 so-called digital currencies as illegal pyramid selling projects covered or suspected to be covered with digital currency

extended data:

distinguish whether digital currency is MLM currency:

issuing method

virtual currency does not rely on specific monetary institutions. It is proced according to specific algorithms and through a large number of calculations. It is a decentralized issuing method. Each different terminal node is responsible for maintaining the same account book, and the maintenance process is mainly to package and encrypt the transaction information by the algorithm, while the MLM currency is mainly issued by a certain organization, and the profit is made by pulling the head

7. It is not clear whether Licang business incubation base is run by Licang District government or by indivials. The person in charge of the base is Qing Yuandi Enterprise Management Consulting Co., Ltd. The couple set up a company, one responsible for pulling business, one responsible for collecting money. It's rubbish. Arbitrary charges. It's all big deception. It's OK for you to charge indiscriminately and do things well. It can also give people comfort. I really don't know what the relevant leaders of Licang District do. It's a good project to set up a business base to help college students start their own businesses. It's really good. How can we charge indiscriminately? Why don't people in other districts like this? Has the Qing government designated Licang as a special zone? Is it dereliction of ty or an accomplice in a pair of pants? Encourage entrepreneurs to get a detailed understanding of the companies that used to settle in the base before they settle in. Don't do things you regret. Now we have a second phase of Longtai, which is cheating on investment promotion. Please shine your eyes. It's not easy to start a business. I wish you all success and prosperity!

8. At present, it seems that this should be the case. Some virtual currency trading platforms have been closed, such as yuncoin.com and yuanying.com