Virtual currency exchange industry

The monetary gold and silver Bureau of the people's Bank of China issued the "risk warning on issuing or promoting digital currency in the name of the people's Bank of China". In the risk warning, the central bank stressed: our bank has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency. The central bank stressed that the so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud

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China does not have the first legal virtual currency. At the end of 2013, the central bank and other five ministries and commissions issued the bitcoin risk notice, which clearly defined bitcoin as a special Internet commodity, and the public can buy and sell it freely on the premise of taking their own risks

other digital confidential currencies are also suitable, such as Laite coin, the ancestor of Shanzhai coin, Fuyuan coin for business points in jewelry instry, dog coin for small reward, etc. But although virtual currency exists legally in our country, it is illegal to cheat under the guise of virtual currency

extended data

as the proct of e-commerce, virtual currency has begun to play an increasingly important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers

fraud

the private transactions of online virtual currency have realized the two-way circulation between virtual currency and RMB to a certain extent. The activity of these traders is to buy all kinds of virtual currencies and procts at a low price, and then sell them at a high price to earn profits. With the increase of such transactions, there are even virtual mints

in addition to the virtual currency provided by the main company, there are also some people who specialize in "virtual coin making" to obtain virtual currency by playing games and then resell it to other players. Take Wenzhou as an example, there are about seven or eight such "virtual mints" with four or five hundred practitioners. This not only creates a bubble for the price of the virtual currency itself, but also causes trouble for the normal sale of the issuing company. It also provides a platform for selling and collecting money and money laundering for various cyber crimes. p>

impact system

in modern financial system, the issuers of money are generally central banks, which are responsible for the management and supervision of money operation. As the equivalent exchange goods used to replace the real currency circulation on the Internet, the virtual currency on the Internet is essentially the same as the real currency. The difference is that the issuers are no longer central banks, but Internet companies

if the development of virtual currency makes it form a unified market, each company can exchange with each other, or virtual currency is integrated and unified, and all of them are based on the same standard and price, then in a sense, virtual currency is currency, which is likely to form a threat impact on the traditional financial system or economic operation

network problems

in addition to direct cash, virtual currency can also be purchased by SMS, internet transfer and fixed telephone recharge. These ways of purchase not only provide convenience for users, but also have many risks

such as embezzlement of telephone recharge and purchase by minors. In addition, virtual currency does not have the anti-counterfeiting technology of real currency. Computer hackers may use its security loopholes to proce counterfeit currency. Relevant personnel of the State Administration for Instry and Commerce said that virtual currency transaction is a business behavior derived from the Internet era, and there are no clear legal provisions to regulate it, and there are no items related to virtual goods transaction in the scope of instrial and commercial registration

but when the virtual property transaction graally employs people, places are fixed, transaction profits are clear, and has the nature of operation, it may involve market order and tax issues. Even game operators have no ability to control. There are a large number of "counterfeit banknote makers" in the network. Take the winger who is mainly engaged in chess and card online games as an example, the purchasing power of his online currency has shrunk by nearly 40% in one year. Many people point out that such inflation will only damage netizens and make them lose confidence in the Internet

reference source : network virtual currency

The instrialization of virtual money will form a virtual money market. If the emergence of the stock market is the proct of the combination of instrial capital and financial capital, then virtual currency will be the proct of the combination of service capital and financial capital. Modern service instry, especially personalized modern information service instry, will become the instrial foundation of personalized virtual currency. Personalized virtual money market is different from stock market and derivative financial instrument market. The latter is established for the needs of instrialization, which is also reflected in meeting the needs of the so-called modern service instry; The instrial foundation of the former is closely related to the demand of informatization. The future of the tertiary instry is different from the service instry, its development direction is the post-modern service instry, that is, the experience instry, that is, more personalized instry to meet the development needs of spirit, culture and entertainment. The stock market will make more use of information to guide the rational investment of instry and service instry, while the personalized virtual money market will make more use of information to guide the perceptual consumption of experience instry
in this context, the instrial basis and role of virtual currency will reflect its special side

with information function
the biggest difference between personalized virtual currency and stock market is not only the integrated pricing function of reference point, but also the distributed pricing function of reference point. This process is not completed in the virtual money market, but in the development of personalized modern services. For example, in the process of indivial auction, the bargaining process combined with frame should include not only a process of utility exchange leading to value unification, but also a process of value realization leading to value diversification. This means that virtual currency must be combined with the development of personalized information service instry. Although the stock also has certain information function, but this kind of information is subordinate, it is instry centered. In the future, virtual currency may have three functions: currency, stock and information card. On the one hand, it can be used as the base currency (or exchanged with the base currency) to obtain liquidity; On the one hand, it can have value-added function; The most important thing is that additional information can be added. And this kind of information is just a kind of interface information to be completed, which needs to continue to realize its value in the service instry
cultural value positioning
in the future personalized virtual currency trading market, price level information similar to stock index will also be formed. But different from the stock index, the price index of personalized virtual currency will not reflect the investment value-added information, but the entertainment value, cultural value, spiritual value, free value and personality value similar to cool value. For example, the game index may reflect not the investment value, but the degree of indivial freedom value. For another example, in the super girl vote, it is reflected in the popularity index rather than the professional index. If it does not refer to SMS voting, but a personalized IC card with integrated currency and derivative financial instruments functions, such as corn card and fans card, the value of the card will fluctuate with the fashion information, reflecting the freedom of indivial choice. Once combined with the development of personalized service instry, a benign interaction mechanism is formed
upgrading traditional instries
with the development of game instrialization and instrial Gamification, indivial freedom has been comprehensively developed, that is, personalized self realization, which will become the ultimate goal of instrial upgrading. Traditional instries, including proct manufacturing and service instries, will take the satisfaction of spiritual and cultural values as the pursuit of added value of procts and services. In the background of the development of this instry, the role of personalized information service instry in driving traditional instries may be realized through the guidance of personalized virtual money market. That is to say, after the procts and services of traditional instries have reached the optimal homogeneity, they will eventually find out under the guidance of the information market that those things that are cool enough will sell well, and those that are not cool enough will not sell. In the future, the instry development will not only need the guidance of GNP stock index, but also need the guidance of GNH cool value index. The paper points out that GNC (National cool value) Japan is moving towards a mode of instrial development, thus following the Meiji Restoration, it is moving towards the road of modern instrial development. The United States and South Korea are also ahead in this regard. China is facing the choice of the second modernization. Many small things like virtual currency actually contain significant information< After October 30, 2008, indivials in China have to pay personal income tax on the income from purchasing virtual currency of players through the Internet and selling it to others after price increase. On October 29, 2008, the State Administration of Taxation announced the "reply on the issue of collecting personal income tax from indivials' income from online trading of virtual currency"
in response to the Beijing Local Taxation Bureau's request for instructions on how to calculate and levy indivial income tax on indivials' income from online sales of virtual currency, the State Administration of Taxation has clearly stipulated that the income obtained from indivials' online purchase of players' virtual currency and sale to others after price increase belongs to the taxable income of indivial income tax, The indivial income tax shall be calculated and paid according to the item of "income from property transfer"
at the same time, the State Administration of Taxation emphasizes that the original value of an indivial's property selling virtual currency is the price and related taxes paid for his purchase of network virtual currency. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities Reporter Zhao Peng)
the tax rate of selling virtual currency is fixed at 20%
on October 29, 2008, the reporter called Beijing Local Taxation Bureau, and the relevant person in charge disclosed that the tax rate of paying indivial income tax according to the "income from property transfer" project is fixed at 20%, and Beijing Local Taxation will also introce relevant measures to verify the original value of indivial selling virtual currency property
according to the introction, Beijing Local Taxation Bureau has not yet started to levy indivial income tax on the income of indivials from online sales of virtual currency. However, the bureau is aware that this kind of behavior is already a relatively common phenomenon, which should be strengthened. In order to better implement the requirements of the State Administration of Taxation on the "reply to the issue of personal income tax on the income of indivials from the sale of virtual currency through the Internet", Beijing Local Taxation Bureau will also issue relevant operational measures to verify the original value of the property of indivials selling virtual currency