How long does it take to issue virtual currency

1. May involve illegal fund-raising and pyramid selling and other related criminal crimes
(1) at present, there is no regulation to regulate the trading platform, but the trading platform should also fulfill the audit obligation. For example, when online trading various network virtual currencies, it should audit whether the currency is a network virtual currency based on blockchain technology
(2) if the trading platform knows that the online trading currency is suspected of MLM, but in order to collect Commission, it also provides trading services for the currency and promotes its development, once the currency is identified as MLM, the trading platform may have to bear certain legal liabilities
(3) at the same time, a large number of customers' funds are stored in the accounts of virtual currency trading institutions. However, all online virtual currency trading institutions are not qualified to absorb public funds, which makes trading institutions face the potential risk of illegal fund-raising
the 2017 version of the guide to the identification of internet pyramid selling (hereinafter referred to as the guide) lists several differences between virtual currency and pyramid selling currency:
(1) from the perspective of issuing mode, virtual currency does not rely on specific monetary institutions, it is a decentralized issuing mode according to specific algorithms; The MLM currency is mainly issued by a certain institution, and the profit is made by pulling the head
(2) from the perspective of transaction mode, virtual currency is a kind of sporadic transaction spontaneously formed by the market. After the scale is formed, the transaction is graally completed by a third party establishing an exchange, while MLM currency is issued by an institution and traded on its own platform
(3) from the perspective of implementation, virtual currency itself is an open source program, while the open source of MLM currency is completely ing other people's open source code, and there is no use of open source code to build programs, which is essentially controlled by the website as Q coin.

2.

It is illegal to issue virtual currency privately

According to Article 29 of the regulations of the people's Republic of China on the administration of RMB, no unit or indivial is allowed to print or sell token tickets to replace RMB in circulation on the market

In addition, the "emergency notice of the State Council Office for rectifying unhealthy tendencies in the instry, the State Economic and Trade Commission and the people's Bank of China on prohibiting the issuance and use of various token certificates (cards)" also strictly prohibited similar issues

extended data

virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"

market formation

the Internet has led to the emergence of a new market, which is a virtual market based on cyberspace. The Internet provides a lot of communication places for consumers, and also provides business market for enterprises. Enterprises must change from proct centered to service centered to customer centered. With the development of computer artificial intelligence technology and database technology, enterprises can conveniently collect customers' information, understand customers' needs in time, change business strategies and grasp economic arteries in real time

With the rapid development of computer and network communication technology, the application of Internet technology has graally penetrated into various fields of human activities, and the unlimited business opportunities that it contains make businesses turn their eyes to e-commerce. E-commerce is penetrating into all aspects of social and economic life at a speed that people can hardly imagine

the traditional finance is also closely watching this irresistible trend of global economic integration and networking. As a result, value-added services take art as the selling point and can be regarded as commodities; The sword in the game is not a brand-new financial services business philosophy - e-finance came into being

from the historical development process, to understand e-finance, we must start from the electronic finance and e-commerce. The so-called e-financialization means that financial enterprises adopt modern communication, computer, network and other information technology means in addition to Internet technology to improve the work efficiency of traditional financial service business, rece operating costs, realize the automation of financial business processing, informatization of financial enterprise management and scientific decision-making, and provide customers with faster and more convenient services, And then enhance the financial enterprise is the behavior of market competitive advantage

e-finance is a transcendence of financial electronization. Different from the electronic finance, the main technical basis of e-finance operation is the increasingly perfect Internet technology. Due to the characteristics of global connectivity, openness, quickness and low marginal cost of Internet technology, e-finance strengthens the restructuring and innovation of financial services business based on Internet technology, so that customers are free from the restrictions of business hours and places, and enjoy all kinds of high-quality and low-cost services provided by financial enterprises anytime and anywhere

with the development of Internet, the form of money is becoming more virtual, and there is an electronic money that only exists in the form of electronic signal

reference source: Network: virtual currency

3.

According to the news on February 10, 2018, on September 4, 2017, seven ministries and commissions of the people's Republic of China issued the notice on preventing the financing risk of token issuance, which regulates the issuance of tokens. In the notice, the nature of all kinds of tokens and "virtual currency" is clearly defined: it is not issued by the monetary authority, and it has no monetary attributes such as legal compensation and mandatory, It does not have the same legal status as currency and cannot and should not be used as currency in the market. Nevertheless, it is undeniable that all kinds of "virtual currency" still have a certain property value and are part of the property of the holder. So, how to identify the nature of the theft of such tokens

In order to protect the legitimate rights and interests of "virtual token" holders, the author intends to discuss such issues through a relevant news report and relevant cases

stealing bitcoin

recently, a news report said that Haidian police in Beijing cracked a case of destroying computer information system. The suspect Zhong used his administrator's authority to modify the company's computer applications and steal 100 bitcoins. Before he could sell the stolen money, Zhong was arrested by the police. At present, Zhong was detained for the crime of destroying computer information system

it can be seen from the report that the police detained the perpetrator for stealing bitcoin on suspicion of damaging the computer information system. The crime of destroying the computer information system stipulated in Article 286 of the criminal law of our country refers to the act of deleting, modifying, adding or interfering with the functions of the computer information system in violation of the provisions of the state, resulting in the abnormal operation of the computer information system and serious consequences, or deleting, modifying or interfering with the data and application programs stored, processed or transmitted in the computer information system Modifying or adding operations with serious consequences, or deliberately making or spreading destructive programs such as computer viruses, which affect the normal operation of the computer system with serious consequences

In the author's opinion, this crime is one of the crimes of impairing social management order in Chapter 6 of the criminal law, that is, the legal interest protected by this crime is actually the public order of our society, not the property interests of the digital currency holders, which in fact denies the property value of digital currency, It is only protected as a data or system function in a computer system. The author thinks that there is some irrationality in this way

first of all, in the notice on the prevention of bitcoin risk issued in 2013, it is mentioned that bitcoin is not a real currency because it is not issued by the monetary authority and does not have such monetary attributes as legal compensation and compulsion. Bitcoin has four main characteristics: no centralized issuers, limited amount, no geographical restrictions and anonymity. Because it belongs to a specific virtual commodity in nature The notice also clearly mentioned that bitcoin does not have the same legal status as currency and should not be used as currency in the market. However, as a virtual commodity, the property value behind bitcoin cannot be ignored

Secondly, Article 127 of the general provisions of the civil law, which came into effect on October 1 last year, stipulates that if the law has provisions on the protection of data and network virtual property, such provisions shall prevail. Although only the protection of the network virtual property has made the principle provisions, but it can not be denied that this shows our country's attitude towards the protection of the network virtual property. Although there is no special law for the protection of data and network virtual property in China, from the perspective of the general provisions of civil law, it is predicted that there will be relevant legislation in the future

finally, from the relevant cases, we can also see the recognition of the property attribute of virtual currency such as bitcoin in China's judicial practice. In April and may 2013, Liu premeditated to set up a bitcoin trading platform, so he recruited Jin and Huang (both sentenced) to jointly set up a "bitcoin" trading platform. During this period, Liu, Huang, Jin, Jin and the defendant he, in addition to other acts of directly stealing customers' funds, also frequently cashed RMB by selling customers' bitcoins, and transferred 120 bitcoins from the website. Finally, the court convicted and punished the defendant for fraud, and the bitcoin transferred by the defendant was also included in the property loss of the victim. Therefore, from the judicial cases, we can also get the recognition of the property attributes of virtual currency such as bitcoin

based on the above reasons, the author thinks that it may be unreasonable to regulate the theft of virtual currency only as the crime of damaging computer information system. We should face up to the hidden property value and consider the application of the crime of infringing property in China's criminal law. Only in this way can we effectively protect the legitimate rights and property of digital currency holders in China

4. If the online virtual game currency swindles 4000 yuan, it is suspected of fraud and shall be sentenced to fixed-term imprisonment of not more than three years< According to the interpretation of the Supreme People's court and the Supreme People's Procuratorate on Several Issues concerning the specific application of law in handling criminal cases of fraud, which came into effect on April 8, 2011, those who defraud public or private property with a value of 3000 yuan to 10000 yuan or more, 30000 yuan to 100000 yuan or more, and 500000 yuan or more will be punished, It should be respectively identified as "large amount" and "huge amount" and "especially huge amount" stipulated in Article 266 of the criminal law< Article 266 of the criminal law stipulates that whoever swindles public or private property, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also, or shall only, be fined; If the amount is huge or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and shall also be fined; If the amount is especially huge or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or have his property confiscated. Where there are other provisions in this law, such provisions shall prevail.

5. It depends on the national laws and regulations, involving the amount of money. If it's more than one million, it's estimated that the sentence will be a lot. You can consult the online lawyer for details.

6. Article 266 of the criminal law stipulates that whoever swindles public or private property, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance and shall also, or shall only, be fined; If the amount is huge or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and shall also be fined; If the amount is especially huge or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or have his property confiscated. Where there are other provisions in this law, such provisions shall prevail. According to the interpretation of the Supreme People's Court on Several Issues concerning the specific application of law in the trial of fraud cases 1. According to the provisions of articles 151 and 152 of the criminal law, those who defraud a large amount of public or private property constitute the crime of fraud. If an indivial swindles public or private property more than 2000 yuan, it belongs to "large amount"; If an indivial swindles public or private property for more than 30000 yuan, it belongs to "huge amount".

7.

If the ringleaders or the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years or life imprisonment

according to Article 170 of the criminal law [crime of counterfeiting currency], Whoever forges currency shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and shall also be fined; In any of the following circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or have his property confiscated:

(1) the ringleader of a counterfeit currency group

(2) the amount of forged currency is especially huge

(3) there are other especially serious circumstances

According to the interpretation of the Supreme People's Court on Several Issues concerning the specific application of law in the trial of counterfeit currency and other cases, Article 1: if the total denomination of counterfeit currency is more than 2000 yuan but less than 30000 yuan, or the amount of counterfeit currency is more than 200 pieces but less than 3000 pieces, it shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years in accordance with the provisions of Article 170 of the criminal law, He shall also be fined not less than 50000 yuan but not more than 500000 yuan

if the total denomination of counterfeit currency is more than 30000 yuan, it belongs to "the amount of counterfeit currency is particularly huge". If the perpetrator makes currency samples or conspires with others to forge currency samples for others, he shall be convicted and punished in accordance with the provisions of Article 170 of the criminal law

According to the interpretation of the Supreme People's Court on Several Issues concerning the specific application of law in the trial of counterfeit currency and other cases (2), Article 1: the act of illegally manufacturing counterfeit currency by imitating the design, shape, color and other characteristics of real currency shall be recognized as "counterfeit currency" in Article 170 of the criminal law. To change the form and value of real money by means of clipping, mending, uncovering, altering, shifting and reprinting should be regarded as "altered money" as stipulated in article 173 of the criminal law

Article 2: the act of fabricating genuine and fake currency by means of forgery and alteration at the same time shall be convicted and punished as the crime of counterfeiting currency in accordance with the provisions of Article 170 of the criminal law

Article 4: Crimes of counterfeiting ordinary commemorative coins and precious metal commemorative coins issued by the people's Bank of China shall be convicted and punished in accordance with articles 170 to 173 of the criminal law. The amount of the crime of counterfeiting ordinary commemorative coins shall be calculated in denomination; The amount of crimes committed by counterfeiting precious metal commemorative coins shall be calculated according to the initial selling price of precious metal commemorative coins

8.

If hundreds of millions of counterfeit coins are forged, they should be sentenced to fixed-term imprisonment of not less than 10 years, life imprisonment, and a fine of not less than 50000 yuan but not more than 500000 yuan or confiscation of property

according to the explanation, if the total denomination of forged currency is more than 2000 yuan but less than 30000 yuan, or the amount of forged currency is more than 200 pieces but less than 3000 pieces, according to the provisions of Article 170 of the criminal law, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and shall also be fined not less than 50000 yuan but not more than 500000 yuan. If the total denomination of counterfeit currency is more than 30000 yuan, it belongs to the category of "counterfeit currency with a huge amount". If the perpetrator makes a currency version or conspires with others in advance to forge a currency version for others, he shall be convicted and punished in accordance with the provisions of Article 170 of the criminal law

extended materials :

counterfeit money, also known as counterfeit money, refers to forged or altered money. Forged money refers to counterfeit money made by various means imitating the pattern, shape, color, etc. of real money. Altered money refers to money made on the basis of real money by means of mending, uncovering, altering, patching, shifting, reprinting, etc, Counterfeit money that changes the original form of real money

to see whether the watermark of banknote is clear, layered and three-dimensional with naked eye; Look at the safety line; See if the whole face design is single or partial color. Looking at the overall printing effect of paper money, RMB real money is printed with special machine and ink, and the overall effect is exquisite and meticulous. The overall effect of counterfeit money is rough, and the process level is low

reference materials : judicial interpretation by the Supreme People's court in the trial of counterfeit currency_ Crime of counterfeiting currency_ Network