Two sessions of virtual currency
There is no official recognition of any virtual currency in China. There is also no legal virtual currency
virtual currency is the proct of network, and the flow of digital information 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. There is no legal basis for the establishment of various so-called "currency" trading platforms in China P>
the establishment of all kinds of bitcoin trading places has neither been approved nor supervised. To enlarge the scale of transactions, it is necessary to provide leveraged transactions such as financing and melting coins, which has aggravated the price shocks and bubbles. The public has participated in such transactions without any legal protection. p>
extended information:
virtual currency is not issued by the monetary authority, does not have monetary attributes such as compensatory and mandatory, does not have the same legal status as currency, and cannot be used as currency in the market. In essence, the issuance and financing of virtual currency is a kind of illegal public financing without approval. It is suspected of illegal sale of token tickets, illegal fund-raising, financial fraud, pyramid schemes and other illegal and criminal activities. Investors should not be carried away by "high income"
There are many hidden risks in virtual currency, which seriously affect the financial order. Virtual money pyramid selling breaks through the limitation of traditional geographical space, and if there is a formal company facade as a cover, it can publicize the company on a large scale, and the propagation speed is amazing. If it can not be found and dealt with in time, it will cause great destructive power. In the future, the regulatory agencies can study and explore the relevant business models of virtual currency trading within the scope of controllable risk, improve the regulatory scheme, and promote the long-term regulatory mechanismvirtual currency and electronic currency are not the same concept
the definition of e-money is to convert a certain amount of cash or deposit from the issuer and obtain data representing the same amount. By using some electronic methods, the data can be directly transferred to the payment object, so as to pay off the debt. E-money means that consumers pay traditional money to issuers of e-money, and issuers store legal money of equal value with traditional money in electronic devices held by consumers P>
electronic currency is the electronization of the legal tender, including our common bank cards, Internet banking, electronic cash, etc., as well as the third party payment developed in recent years, such as Alipay, fortune paid and so on. No matter what form these electronic currencies are and through which institutions they circulate, their original source is the legal money issued by the central bank
but virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. For example, Tencent Q currency and other game currency, such virtual currency is mainly limited to circulation in a specific virtual environment. After the emergence of bitcoin, through the blockchain technology to better solve the problem of decentralization, distrust, to achieve global circulation, is sought after in the world. Electronic currency and virtual currency are collectively referred to as digital currency
In the two sessions every year, "I don't like the idea of creating a proct that can be speculated and make people rich overnight", "in the future, things in the form of traditional banknotes and coins may graally shrink, or even one day they may not exist.", This is one of the representatives of China's financial regulators who expressed the above views when talking about the central bank's digital currency and bitcoin, ICO supervision and other topics
"these things can be the digital currency based on blockchain, distributed accounting technology and DLT, or the technology evolved from the existing electronic payment." He said
then, when bookkeeping, adjust the local currency to the current common currency, and select the corresponding account when recording revenue and expenditure. You can query details and reports by selecting currency conditions
the specific rich owners can go to the dig money forum to have a look at the dig money section. The rich owners of dig money all communicate with each other on how to use dig money to keep accounts
“ Digital Chinese RMB & quot; In 2020, the two sessions across the country will become one of the hot topics. From last year to now, several big cities in China have launched digital RMB demonstration sites one after another. At present, the application of digital Chinese RMB is mainly invitation system. With the orderly progress of the experiment of digital Chinese RMB, the secret mask of digital Chinese RMB has been untied. According to the actual investigation, it is found that as a part of the first phase project of Shanghai Metro Line 1, the; Black pick & quot; Self service vending machines are graally applied to digital Chinese RMB payment. On the machine and equipment, click on the proct to generate digital Chinese RMB payment options, and purchase according to the scanning QR code
the loaning currency is an electronic device. Will China's RMB have commercial currency notes in the future? Hu Jie believes that the central bank's digital virtual currency will replace part of the cash, but it is impossible to completely replace the banknotes, especially the elderly people also have requirements for banknotes, and banknotes have the characteristics of group polarization. Therefore, in the foreseeable future, digital virtual currency, Chinese RMB banknotes and coins may coexist for a long time
2. As a currency, the face value of RMB is just a code. It doesn't matter whether it is big or small. It mainly depends on whether it is equal to the country's economic strength. Because, if the country does not issue large denomination RMB, the price will rise, the inflation pressure will be high, and the RMB will depreciate. This is not related to the issue of large denomination RMB< In 2004, Zong Licheng, member of the National Committee of the Chinese people's Political Consultative Conference and vice chairman of Shandong Federation of instry and commerce, proposed to issue 500 yuan or 1000 yuan in large denomination to meet the needs of economic and social development and rece the cost of currency circulation. At the "two sessions" in 2012, Zong Licheng held that the time is ripe to issue 500 yuan or 1000 yuan RMB, and large denomination RMB has many advantages and benefits. The first is easy to carry, the second is to rece the circulation time, improve efficiency, and the third is to save paper. At present, the largest denomination of RMB is too small to meet the rapid growth of economic aggregate.
many institutions have raised their expectations on the trend of RMB. Royal Bank of Scotland and National Bank of Australia narrowed their forecasts for the Yuan's fall on Monday after at least three banks made the same adjustments
it is worth mentioning that the RMB has become more and more stable after going against expectations in January. In February, the fluctuation of onshore RMB was very small, ranging from 6.85 to 6.88, which is almost the smallest volatility in a single month in the past decade.
with the increasing scale of RMB issuance, almost all people believe that it is only a matter of time before the "big note" comes out. You know, at present, China's broad money has reached nearly 120 trillion, which is 1.5 times that of the United States, ranking first in the world
in actual circulation, the largest denomination of US dollar is 100 yuan (equivalent to 622.5 yuan), British pound is 50 yuan (equivalent to 522 yuan), Hong Kong dollar is 1000 yuan (equivalent to 803 yuan), Japanese yen is 10000 yuan (equivalent to 608 yuan), and euro is 500 yuan (equivalent to 4215 yuan). Since Chinese people are more accustomed to using cash, it is normal for China to issue 500 yuan and 1000 yuan RMB
RMB came out on December 1, 1948. At that time, the people's Republic of China had not yet been established, the whole country was still in a state of war, with soaring prices and serious inflation. Therefore, the largest denomination of the first set of RMB notes is 50000 yuan, and there are 10000 yuan, 5000 yuan, 1000 yuan and other denominations< In March 1955, both the price and the political situation were stable. The country carried out a currency reform, which changed the first set of RMB into the second set of RMB according to the ratio of 10000 yuan to 1 yuan. In the first set of RMB, the maximum face value was only 5 yuan, which was equivalent to 50000 yuan of the first set of RMB. Two years later, in 1957, the 10 yuan note came out
the third set of RMB has been used for the longest time, from 1962 to 2000, and has become the common memory of several generations of Chinese people. The "great unity" pattern of 10 yuan represents status, wealth and glory for quite a long time. The 100 yuan note was born in 1988. Up to now, there are two versions: "four great men" and "one great man". Although the former version is not invalid, it is graally out of circulation
in terms of the history of global banknote issuance, the issue of large denomination banknotes often marks the arrival of the era of inflation. For example, Yugoslavia issued 500 billion dinars of banknotes in 1993, and Zimbabwe issued 100 trillion yuan of banknotes in 2009. The most imaginative banknote in Chinese history is the 6 billion yuan banknote issued by the Bank of Xinjiang Province in May 1949, which can be converted into gold yuan coupon. At that time, 88 grains of rice could be bought in Shanghai
it is precisely because "big notes" are inextricably linked with inflation that the government is very cautious about issuing large denomination notes and does not want to give the people the impression that "money is too small". For example, the advent of the 100 yuan banknote has been a tangle for seven years from conception to issuance. Referring to the twists and turns of the 100 yuan banknote, I believe that the 500 yuan and 1000 yuan banknotes may have been discussed in secret ten years ago, and even the patterns have been changed. But it can be imagined that no one wants to launch 1000 yuan notes in his term of office
is it necessary to issue large banknotes when the money supply and circulation are large? In the "cold weapon era" of currency, of course, it is this logic. However, as the contemporary financial instry enters the era of e-money and mobile Internet, the necessity of issuing large banknotes is decreasing. In the long run, it is hard to say whether paper money must exist or not. Since the beginning of this year, Tencent and Ali have been competing in the payment fields such as taxi and red envelope. We can see that there is no need to use banknotes or coins even for micro payment.