Judicial interpretation of virtual currency
according to the notice on banning illegal financial institutions and illegal financial business activities, illegal fund-raising refers to units or indivials who, without the approval of relevant departments in accordance with legal proceres, raise funds from the public by issuing stocks, bonds, lotteries, investment fund securities or other creditor's rights certificates, and promise to raise funds in currency and other forms within a certain period of time Repayment of principal and interest or return to investors in kind or other ways. In order to punish the criminal activities of illegal fund-raising such as illegal absorbing public deposits and fund-raising fraud, the Supreme People's court, together with China Banking Regulatory Commission and other relevant units, has studied and formulated the interpretation on Several Issues concerning the specific application of law in the trial of criminal cases of illegal fund-raising, which has come into force since January 4, 2011
this kind of currency is different from bitcoin, Ruitai, Laite and other mainstream digital currencies. The shared currency may run away at any time, and there are many similar currencies.
It's not against the law to do bitcoin business, but don't use bitcoin to do illegal things
in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty
the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate
in China, some Taobao stores also began to accept the use of bitcoin, and the number of businesses will graally increase
in October 2013, the first bitcoin quarterly, one bit, was released
on October 15, 2013, the network accelerator service of the network announced its support for bitcoin
on October 26, 2013, btcmini reported that GBL was hacked
on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws
on December 5, 2013, notice of the Ministry of instry and information technology of the people's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing bitcoin risk: bitcoin is a specific virtual commodity
as a commodity trading behavior on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk
on September 4, 2017, announcement of the people's Bank of China Central Network Information Office, Ministry of instry and information technology, State Administration for Instry and commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing the risk of token issuance financing: it is prohibited to engage in token issuance financing activities (ICO)
the trading platform shall not engage in the exchange business between legal tender and token, or virtual currency, or buy or sell token or virtual currency as a central counter party, or provide pricing, information intermediary and other services for token or virtual currency
on November 2, 2018, the people's Bank of China released the 12th topic of China financial stability report 2018, which talked about "encrypted assets"
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extended information:
currency transaction
purchase method
< P > users can buy bitcoin, and at the same time, they can use computers to "mine" bitcoin according to algorithms. When users "mine" bitcoin, they need to search for 64 bit numbers by computer and then, by repeatedly solving mysteries, compete with other gold miners to provide the required numbers for the bitcoin network. If the user's computer successfully creates a set of numbers, it will get 25 bitcoins
e to the decentralized programming of bitcoin system, only 25 bitcoins can be obtained every 10 minutes, and by 2140, the upper limit of bitcoins in circulation will reach 21 million. In other words, bitcoin system is able to achieve self-sufficiency, resist inflation through coding, and prevent others from destroying these codes
source of reference: network bitcoin
There is no law in China to ban bitcoin, so it is not illegal to mine and earn bitcoin
it is not illegal to buy bitcoin in China. In 2013, five ministries and commissions jointly issued the bitcoin risk notice, which states that although bitcoin does not belong to legal tender and is not legally compulsory, people can freely participate in bitcoin trading activities when they voluntarily undertake risks
"notice" clearly defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and mandatory, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market
however, as a kind of commodity trading on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk
the notice requires that at this stage, financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin in the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
in order to avoid over hype of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
source of reference: People's website bitcoin network virtual currency
according to the regulations on the administration of RMB, the proction and sale of token tickets are prohibited. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty< On June 4, 2009, the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games (Wen Shi Fa [2009] No. 20) stated that the scope of application of virtual currency in online games was defined for the first time, and a distinction was made between the current virtual currency in online games and the virtual props in games; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate
in China, some Taobao stores have begun to accept the use of bitcoin, and the number of businesses will graally increase
in October 2013, the first bitcoin quarterly, one bit, was released
on October 15, 2013, the network accelerator service of the network announced its support for bitcoin
on October 26, 2013, btcmini reported that GBL was hacked
on October 31, 2013, Lei Teng, a famous Internet lawyer, proposed the event of "filing a case to investigate the closure of GBL bitcoin trading platform as soon as possible", analyzed the "value function" and "use function" of bitcoin, and bitcoin should be governed by relevant laws.
Interpretation of the Supreme People's Court on the specific application of law in the trial of counterfeit currency and other cases (adopted at the 1110th meeting of the judicial committee of the Supreme People's Court on April 20, 2000), The specific application of law in the trial of such cases is explained as follows:
Article 1 Whoever forges money with a total denomination of more than 2000 yuan but less than 30000 yuan, or with a total amount of more than 200 pieces but less than 3000 pieces, shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years and a fine of not less than 50000 yuan but not more than 500000 yuan in accordance with the provisions of Article 170 of the criminal law
if the total denomination of counterfeit currency is more than 30000 yuan, it belongs to "the amount of counterfeit currency is particularly huge"
Article 2 if an actor uses counterfeit money after purchasing it, which constitutes a crime, he shall be convicted of the crime of purchasing counterfeit money and given a heavier punishment in accordance with Article 171 of the criminal law
if the selling and transporting of counterfeit currency constitutes a crime and the behavior of using counterfeit currency at the same time, the offender shall be punished for several crimes in accordance with the provisions of articles 171 and 172 of the criminal law
Article 3 selling or buying counterfeit currency or knowingly transporting counterfeit currency with a total denomination of more than 4000 yuan but less than 50000 yuan belongs to "large amount"; If the total denomination is more than 50000 yuan but less than 200000 yuan, it belongs to "huge amount"; If the total denomination is more than 200000 yuan, it belongs to "extremely huge amount" and shall be convicted and punished in accordance with the provisions of the first paragraph of article 171 of the criminal law
Article 4 Any employee of a bank or other financial institution who purchases counterfeit money or takes advantage of his position to exchange counterfeit money for money with a total denomination of more than 4000 yuan but less than 50000 yuan or a total quantity of more than 400 pieces but less than 5000 pieces 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 20000 yuan but not more than 200000 yuan; If the total denomination is more than 50000 yuan or the amount of money is more than 5000 pieces or if there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined not less than 20000 yuan but not more than 200000 yuan or be sentenced to confiscation of property; If the total denomination is less than 4000 yuan or the amount of money is less than 400 pieces, or if the circumstances are relatively minor, he shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined not less than 10000 yuan but not more than 100000 yuan
Article 5 a person who knowingly holds or uses counterfeit money with a total denomination of more than 4000 yuan but less than 50000 yuan is a "large amount"; If the total denomination is more than 50000 yuan but less than 200000 yuan, it belongs to "huge amount"; If the total denomination is more than 200000 yuan, it belongs to "extremely huge amount" and shall be convicted and punished in accordance with the provisions of article 172 of the criminal law< Article 6 if the total denomination of the altered currency is more than 2000 yuan but less than 30000 yuan, it belongs to "large amount"; If the total denomination is more than 30000 yuan, it belongs to "huge amount" and shall be convicted and punished in accordance with the provisions of article 173 of the criminal law
Article 7 "currency" in this interpretation refers to RMB and foreign currency that can be circulated or exchanged in the domestic market
the denomination of currency shall be calculated in RMB, and other currencies shall be converted into RMB according to the foreign exchange rate announced by the State Administration of foreign exchange at the time of the case
There are 78 kinds of RMB 50 yuan in 2005, The first large group is < br / < br / < br / < br / < br / < br / < br /
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there were 78 kinds of crown numbers in the first group, among which ah, AI and AJ were used as supplementary crown numbers
the fifth set of RMB inherits the traditional experience of China's printing technology and draws lessons from the advanced technology of foreign banknote design, which has greatly improved its anti-counterfeiting performance and currency processing modernization. The front of each denomination currency adopts the head portrait of Chairman Mao Zedong in the early days of the founding of the people's Republic of China, the background adopts the Chinese famous flower pattern, and the back main scene pattern fully shows China's long history and magnificent mountains and rivers, and carries forward China's great national culture through the selection of representative patterns with national characteristics
in the fifth set of RMB, the 10 cents, 2 cents, 5 cents and 2 yuan notes in the fourth set of RMB were cancelled, and 20 yuan notes were added
< H2 > extended materials:50 yuan back: Potala Palace
in order to make the fifth set of 50 yuan coupons for Potala Palace, two senior artists from Shanghai banknote printing and mint came to Lhasa for investigation. They searched for a long time, and finally found the "best angle" on the top of a water plant. They first took photos and sketched here. After repeated modification and carving, they finally designed the patterns on the RMB
Potala Palace was built in the 7th century ad for Songzanganbu, the king of Tibet, who married Princess Wencheng of the Tang Dynasty in Tibet. In Lhasa, a palace with 999 houses was built on the red mountain, which is more than 3700 meters above sea level. The main building of the palace has 13 floors and is 115 meters high
< H2 > reference: Internet - the fifth set of RMBIn order to punish the criminal activities of counterfeiting currency, selling, purchasing and transporting counterfeit currency according to the law, the Supreme People's court's interpretation on the specific application of law in the trial of counterfeiting currency and other cases
(2000.9.8 FA Shi [2000] No.26)
in accordance with the relevant provisions of the criminal law, The specific application of law in the trial of such cases is explained as follows:
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,
Article 7 "currency" in this interpretation refers to RMB and foreign currency that can be circulated or exchanged in the domestic market
summary of the National Forum on the trial of financial crime cases by the Supreme People's Court (2001. Hui. Zi Fa [2001] No. 8)
the boundary between this crime and non crime
this crime is an act crime. Generally speaking, as long as the perpetrator intentionally implements the act of counterfeiting money, it can constitute a crime, but this does not mean that it must constitute a crime, because any illegal act, including the act of counterfeiting money, can constitute a crime only when it reaches a certain degree of harm. Before a new judicial interpretation appears, the standard of constituting a crime can refer to the regulations of the Supreme People's Court on handling forged national currency and trafficking in forged national currency issued on September 8, 1994 The criminal cases of smuggling and counterfeiting currency should be recognized according to the standards of conviction and punishment of the crime of counterfeiting national currency in the interpretation of several issues of the law (hereinafter referred to as the "interpretation"). According to the interpretation, the following acts of counterfeiting national currency shall be convicted and punished in accordance with Article 122 of the original criminal law; Second, forging more than 50 but less than 1500 national currencies; Third, although the total face value or amount of forged national currency does not reach the amount required in the first and second cases above, it has serious circumstances. The so-called serious circumstances refer to those who have received criminal punishment for counterfeiting national currency, who have forged national currency by taking advantage of their position, or who have other serious circumstances. In this way, if the total face value of forged national currency does not reach 500 yuan, and the number of forged national currency does not reach 50, and the legal circumstances are not serious, then it can be considered as not a crime after comprehensive analysis of the actor's subjective malignancy, subject characteristics (first offense or common offense), attitude of confession and repentance, etc, Or it can be identified as a crime, but it can be exempted from criminal punishment. As for foreign currency, before there is a new judicial interpretation, its amount can be converted into a certain amount of RMB according to the foreign exchange rate
distinguish the crime of this crime from the crime of religion
after the perpetrator has committed the crime of counterfeiting currency, he will usually continue to commit other related acts, thus committing other crimes, such as selling or transporting his counterfeiting currency, cheating the perpetrator to buy property with his counterfeiting currency, smuggling his counterfeiting loan, etc The crime of smuggling counterfeit currency. Should we make one crime or several crimes and then carry out combined punishment for several crimes? According to paragraph 3 of article 171 of this law, Whoever forges money and sells or transports it shall be given a heavier punishment according to the crime of counterfeiting money. The currency sold or transported here refers to the counterfeit currency forged by the forger himself, that is, the counterfeit currency sold or transported and the counterfeit currency are the same counterfeit currency. Only in this case can forgery and sale or transportation be absorbed. At this time, the act of selling or transporting belongs to the continuation of forgery, which is a subsequent act of forgery. This subsequent act is the natural result of the development of the former act, that is, the act of forgery. In order to achieve its purpose, forgers usually have to be accompanied by the process of transportation or sale. Therefore, this kind of subsequent behavior should be absorbed by the main behavior, that is, the behavior of counterfeiting currency, which no longer has its independent significance. The conviction is only based on the crime of counterfeiting currency, and the sentencing is considered as two heavier circumstances. If the counterfeit currency or the one transported or sold is not the one forged by oneself, there is no necessary connection between the act of transporting or selling counterfeit currency and the act of counterfeiting currency, so there is no relationship between absorption and absorption. For this, we should convict separately and then impose combined punishment.