Shenzhen focuses on supervision of virtual currency speculation
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.
Virtual currency fraud calls 110 directly
many departments, such as the China Banking and Insurance Regulatory Commission, the central office of information technology, the Ministry of public security and so on, issued risk tips, saying that some criminals, under the banner of "financial innovation" and "blockchain", absorbed funds by issuing the so-called "virtual currency", "virtual assets" and "digital assets", thus infringing the legitimate rights and interests of the public
this kind of activity is not really based on blockchain technology, but on the hype of blockchain concept, illegal fund-raising, pyramid selling and fraud. In essence, it is a Ponzi scheme of "repaying the old by borrowing the new", which is difficult to maintain the long-term operation of funds
the public should treat the blockchain rationally, not blindly believe the promises, establish a correct monetary concept and investment concept, and effectively improve the risk awareness. Report to the public security organ in time after being cheated
extended data:
the first is the obvious networking and cross-border of virtual currency. Relying on the Internet and chat tools for transactions, and using online payment tools to balance funds, the risks spread widely and spread quickly. Some lawless elements set up websites by renting overseas servers to carry out activities for domestic residents and control illegal activities remotely
some indivials claim that they have obtained the investment quota of overseas high-quality blockchain projects in the chat tool group and can invest on their behalf, which is most likely fraud. Most of these illegal funds flow overseas, which makes it very difficult to supervise and trace
followed by deception, temptation and concealment. They use hot concepts to hype, fabricate various "tall and tall" theories, and some also use celebrity "big V" platforms to publicize. They use airdrop "candy" as temptation to claim that "currency value only rises but not falls", "investment cycle is short, income is high, and risk is low", which has strong bewitching
in practice, criminals illegally make huge profits by manipulating the price trend of the so-called virtual currency, setting profit and withdrawal threshold. In addition, some criminals also issue tokens under the guise of ICO, IFO, IEO, etc., or hype virtual currency in the way of IMO under the banner of sharing economy, which has strong concealment and confusion
finally, there are many kinds of illegal risks in this kind of behavior. Through public publicity, the illegal elements attract the public to invest funds, lure investors and development personnel to join, and constantly expand the fund pool with the t of currency appreciation and development offline profits, which has the characteristics of illegal fund-raising, pyramid selling, fraud and other illegal acts
in view of the possible risks of virtual currency, many international organizations and central banks have responded publicly to the supervision of virtual currency system. These responses can be roughly divided into four categories: warning and risk warning, supervision and registration permission, legislative norms, and explicit prohibition
(1) warning and risk warning
some central banks and regulators have issued risk warnings against the special currency and virtual currency system. The federal financial regulatory authority of Germany, the Bank of France, the central banks of the Netherlands and Belgium have issued public warnings against the possible money laundering and terrorist financing caused by the use of bitcoin. In the report released at the end of 2013, the European Banking authority (EBA) warned consumers of many risks of virtual currency, such as exchange loss, e-wallet theft, unprotected payment, price fluctuation and so on. Although Spain did not have a similar risk warning, it issued a timely information announcement related to virtual currency
(2) supervision and registration license
generally speaking, international organizations believe that the supervision of virtual currency should find a balance between risk prevention and innovation promotion. Since 2012, Sweden has required transactions related to virtual currency to be registered with financial regulators. Other countries pay attention to qualification supervision, so as to make it indirectly meet the requirements of prudential supervision. In other countries, the regulation mainly focuses on the business model of virtual currency transaction. The financial prudential regulatory authority of France regards the provision of bitcoin circulation and trading services and the act of earning funds in the process as a payment service and requires the authorization of the government. In addition, some countries focus on the intermediary institutions related to virtual currency. The German federal financial regulatory agency and Danish regulators believe that the provision of intermediary services for virtual currency needs to be authorized< (3) legislative norms
at present, some countries have proposed legislation to regulate virtual currency transactions. Canada plans to legislate to allow the government to supervise the transaction of bitcoin, and to include the transaction of more than US $10000 into the scope of suspicious supervision. The United States hopes to adjust the relevant legal structure should be compared with the development of the special currency. In order to make the Bank Secrecy Act (BSA) applicable in the context of network, the financial crime enforcement network (FinCEN) of the U.S. Department of the Treasury issued the explanatory guidance on the behavior and subject definition of private generation, holding, distribution, trading, acceptance and transmission of virtual currency in 2013. The European central bank stressed that it should strengthen international cooperation under the existing legal framework, and regulate virtual currency from the European and global level under the existing legal framework. More countries believe that bitcoin is not a currency in circulation, has no legal status, and does not meet the definition of financial instruments, such as Finland, Sweden, Malaysia and Indonesia
(4) it is forbidden
in some countries, bitcoin related transactions are prohibited. In December 2013, the people's Bank of China banned financial institutions from trading in bitcoin, which was subsequently extended to payment service providers. The central banks of Thailand and Indonesia share the same attitude. The circulation of anonymous internet currency (including bitcoin) is prohibited by the Russian judicial inspection department as a substitute for currency. The Central Bank of Russia has earlier included the provision of bitcoin services in the scope of suspicious transaction monitoring. The U.S. Securities and Exchange Commission (SEC) has banned the issue of unregistered shares in exchange for bitcoin, and unregistered online securities trading activities in virtual currency.
on September 4, 2017, the people's Bank of China and other seven ministries and commissions issued the "notice on preventing the financing risk of token issuance", which cleaned up the ICO and virtual currency trading venues. The scale of domestic virtual currency transactions decreased significantly, effectively avoiding the impact of virtual currency prices on China's financial market.
On September 4, the people's Bank of China and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly regulated the relevant behaviors
after the regulatory authorities made clear their attitude, although bitcoin China, huocoin.com and other "virtual currency" operators have successively taken restrictive measures on the trading platform, the risk of "virtual currency" speculation is still worthy of high vigilance
compared with the traditional financial procts and activities, "virtual currency" does not have an objective value reference at present, and the financial activities based on "virtual currency" are far away from the regulatory system for a long time, so the related financial activities are easy to fall into the problems of "expected pricing" and "emotional pricing". In this context, the "virtual currency" may not only hide the grey transaction or even the black transaction, but also cause all kinds of risks, "crowd out" the real financial innovation, which is not concive to the sustainable and healthy development of Internet finance
With the popularity of bitcoin and other virtual currencies, the risk of fueling illegal economic activities is increasing. The reporter recently learned that the regulatory authorities will ban the domestic virtual currency trading platform
for ordinary consumers, investing in bitcoin is also risky. Many experts and regulators in China have repeatedly appealed that virtual currency trading platforms such as bitcoin are lack of supervision and have become tools for money laundering in illegal economic activities. At the same time, these trading platforms are vulnerable to manipulation by makers, resulting in huge price fluctuations and easy to make retail investors suffer losses. They have become channels for manipulation and ransacking of retail investors by makers and should be banned as soon as possible
"banning bitcoin trading platform is a channel for banning the massive exchange between bitcoin and legal tender, not bitcoin." A person close to the regulator said that the ban on activities related to bitcoin exchange does not affect the development of blockchain technology
the reporter learned from the China Internet Finance Association that the reminder on preventing the risks of bitcoin and other so-called "virtual currencies" released on September 13 said that in recent years, bitcoin and other so-called "virtual currencies" have carried out centralized transactions on some Internet platforms, the number of stakeholders has graally expanded, and the potential financial and social risks can not be ignored
the Internet Finance Association stressed: "there is no legal basis for the establishment of various so-called" currency "trading platforms in China." Investors participate in speculation through bitcoin and other so-called "virtual currency" trading platforms, and face the risk of price fluctuations and security risks. Recently, a large number of trading platforms have been stopped by the regulatory authorities for supporting the token issuance financing (ICO)
more virtual money will inevitably disturb the social order, and it is an inevitable trend to restrict virtual money< br />
virtual currency is a high-risk and high-yield investment proct in China. Virtual currency has no entity support and government credit endorsement. Its price fluctuation is affected by people's psychological expectations and is easily controlled by the makers. Moreover, pyramid schemes of virtual currency are also very rampant in China, especially those new coins, which are mostly pyramid schemes. If you are interested in digital currency, you should play bitcoin, Ruitai coin, Laite coin and doggy coin, which are mainstream digital cryptocurrencies.