Buying and selling virtual currency is not protected by law

1. As of March 9, 2018, virtual currency transactions are not protected by law.

2. 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.

3. It's not against the law, but if the other party deceives you, you can't recover the money. It's an illegal debt. It's not protected by law. Virtual currency is not issued by the monetary authority. It doesn't have the monetary attributes of legal compensation and compulsion. It's not a real currency. It doesn't have the same legal status as currency. It can't and shouldn't be used as currency in the market, Citizens' investment and transaction of virtual currency are not protected by law
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4. First, virtual currency, such as bitcoin, or some game and network currencies, such as QB and some game gold coins, are all personal legal property. As long as an indivial legally obtains them, they will be protected
Second, transactions prohibited by the state, especially speculation and trading of the virtual currency are prohibited in China. However, banning trading does not mean that the virtual coin itself is illegal or worthless
for example, bitcoin, which China refuses to recognize as any regional chain block currency, also forbids trading and services, does not mean that bitcoin itself has no value. In the international trading system, bitcoin is recognized in some regions, And there is a corresponding value scale
when someone steals bitcoin or swindles bitcoin, the state will still treat it as theft or fraud, and the amount needs to be approved< At present, the transaction and pricing of virtual currency are prohibited in China, but the value and holding of virtual currency itself are not prohibited. As long as the currency is not defined as illegal, it is legal.
similarly, game currency is also recognized as legal property, but its transaction is prohibited by the state, which does not affect the corresponding legal liability caused by the infringement of virtual currency

5. Buying and selling virtual currency is not protected by law, but some pyramid schemes use virtual currency. Many cheaters have been arrested.

6.

The main national currencies are as follows:

1, CNY (Chinese yuan)

2, FRF (French Franc)

3, HKD (Hong Kong dollar)

4, CHF (German Schweizer Franken) Swiss Franc

5, USD (United States dollar)

6, CAD (Canadian dollar)

7 GBP (Great Britain pound)

8, NLG (Netherlandish guilder)

9, DEM (German Deutsche mark)

10, bef (Belgium Franc)

11, JPY (Japanese yen)

12 Aud (Australian dollar)

extended data :

there are still a lot of arguments about the nature of money in the academic circle. There are many kinds of money concepts in economics. At first, it was defined by the function of money, and then it was defined as an economic variable or policy variable

Traditionally, there are several definitions of money:

1. Generally accepted goods used to pay goods and services and pay off debts

2. Goods that act as the medium of exchange, value, storage, price standard and deferred payment standard

3. Excess supply or demand will lead to excess demand or supply of other assets

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5. No interest is needed to be paid as the current assets of public net wealth

6, the most liquid assets related to national income, etc

in fact, the above six items belong to the functional definition of currency