Document 25 virtual currency
On June 28, 2009, the Ministry of culture and the Ministry of Commerce jointly issued the "notice on strengthening the management of virtual currency in online games", which made it clear that virtual currency is expressed in the form of prepaid recharge card, prepaid amount or points of online games, but does not include game props obtained in game activities; Virtual currency shall not be used to pay for, purchase physical procts or exchange for any procts and services of other enterprises< The following is the full text of the Circular of the Ministry of culture and the Ministry of Commerce:
the Circular of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games
the cultural departments (bureaus) and commercial departments (bureaus) of all provinces, autonomous regions and municipalities directly under the central government, the Cultural Bureau and commercial bureau of Xinjiang proction and Construction Corps, Beijing, Tianjin, Shanghai and Chongqing Ningxia Hui Autonomous Region Cultural market administrative law enforcement corps:
with the rapid development of online games, online game virtual currency is widely used in online game business services. The virtual currency of online games not only promotes the development of online game instry, but also brings new economic and social problems. Mainly reflected in: first, the lack of protection of user rights and interests; Second, market behavior lacks supervision; Third, the online game virtual currency in the use of disputes
in order to standardize the operation order of online game market, according to the spirit of Interim Provisions on Internet culture management, notice on Further Strengthening the management of Internet cafes and online games (Wen Shi Fa [2007] No. 10) and notice on standardizing the operation order of online games and banning the use of online game gambling (Gong Tong Zi [2007] No. 3), etc, With the consent of the people's Bank of China and other departments, the notice on strengthening the management of virtual currency of online games is as follows
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 imaginethe 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
Hello, the answer is not easy, hope to adopt, first of all your question is two pieces of content, the issue of digital currency and mining! This is two things, generally need to use mining machine to mine are published and online transactions of digital currency, and the majority of mainstream currency! For example, BTC / eth
4. Singapore law sponsored terms.conditions for public issues token public offering terms, website publicity and disclaimer in accordance with Singapore regulatory regulations
I don't need to explain the last two items. Private placement and public offering depend on your personal situation. With the relevant legal opinions, it will be more convincing to your investors. Everything you do is legal and compliant. In addition, after reporting, we are not afraid of MAS to check you. Of course, the most important point is that we can go to the mainstream exchanges
among them, the packaging and promotion of tokens, and the exchanges you go to, are the places that reflect the strength of your currency. The fees for necessary documents mentioned above are not worth mentioning< br />
(1) virtual currency based on entity
since ancient times, all "money" made of paper is called paper currency, and all countries in the world are actually paper currency. In Marx's time, paper money was only a symbol of metal money. The actual gold content of paper money was equal to the nominal gold content. When the nominal gold content was greater than the actual gold content, the price index of metal money would increase because of too many paper money. When it exceeded a certain limit, inflation would occur. Marx called these over issued bank notes without gold as guarantee virtual currency. In Keynesian era, paper money was the symbol of GDP. He defined the issue of paper money caused by making up the fiscal deficit as deficit money, and believed that the issue of paper deficit money could promote the development of proction to a certain extent, but only cause half inflation. Zhang chunjia's research in "Introction to virtual currency" also proves that paper money without precious metal and GDP guarantee will cause price rise, and this kind of money is called virtual currency
(2) virtual currency based on virtual
virtual currency is a new type of currency emerging at a certain stage of network social and economic development to meet the security and convenience needs of users. It represents the development direction of future currency existence form. It comes from the Internet, and acts as a general equivalent in the network society completely or partially. Virtual currency is a real currency with the basic attributes of currency, but it is virtual and depends on the network virtual environment. Virtual currency is born without borders, which makes it more liquid than traditional currency in the world. Virtual world corresponds to the real world. Through the exchange relationship between virtual currency and traditional currency, under certain conditions, specific virtual currency can buy physical goods, and traditional currency can also buy specific virtual goods< Second, the characteristics of virtual currency
1. Value: users get utility value by consuming the procts and services provided by operators. Virtual currency has value by providing exchange to meet the utility of consumers. The quantity of virtual currency measures the value of general goods. The issue essence of virtual currency is credit issue, which is the creditor's right of the holder to the issuer. To a certain extent, the value of this kind of claim is the right of claim
2. Virtual environment dependence. The existence of virtual currency is based on the virtual economic environment provided by the issuers and the sustainable operation of the issuers themselves. Otherwise, virtual currency has no significance.
3. Short sighted currency. As the highest price in the process of commodity exchange, the form of currency value can be regarded as the real currency. Because of the limitation of circulation scope, virtual currency can not be used as the general equivalent of all commodities; But in a certain range, it has the function of monetary value scale and circulation means. Therefore, it can be considered that virtual currency is similar to the form of money value, and it is a primary form of money, which is similar to money< The issue and circulation of virtual money is limited, but it will enlarge the money supply through the money multiplier effect, and affect the difficulty and accuracy of macroeconomic regulation and control. The issuers of virtual money need to report their circulation and circulation to the central bank, and obey the unified management of the central bank at any time
5. Virtual currency, which is issued by non-financial entities outside the financial system, aims to obtain business opportunities and competitive advantages. It is a market behavior and will inevitably lead to competition among issuers. This kind of competition will proce unfair competition behavior or obtain competitive advantage through rent-seeking, which determines the need to regulate the market behavior of the market subject according to the laws and regulations
6. Virtuality: as a kind of approximate currency, virtual currency is virtual existence if it only exists in the virtual world and can purchase the virtual property in it; If it is linked with sovereign currency, it can exist in the real world and purchase real assets, then it is a virtual thing of sovereign currency. Virtual currency is actually a series of data files existing in the computer system. It has the meaning of virtual currency only after the issuers explain the system. Therefore, the existence form of virtual currency is virtual< In general, virtual currency can purchase the procts and services provided by the issuers, and it can also be exchanged with the issuers outside the scope of issuance at a certain rate to purchase the procts of the alliance. For procts outside the alliance, virtual currency has no value significance; Similarly, when virtual currency is only authorized to buy different procts in different sales cycles, the use of virtual currency has limited application in time and scope, unlike sovereign currency, which can be completely freely exchanged
8. Separability: virtual currency has no physical form and is a digital storage information. Unlike traditional paper currency, it needs to consider the balance relationship between the circulation of main currency and subsidiary currency and the proportion of various currency values. It can be split infinitely. For example, although the total number of dark coins is only 2300, each bitcoin can be split into eight directions of ten< Although virtual currency exists in the virtual world, the process of new technological revolution has closely linked the virtual world with reality, and the virtual world has become an important part of people's spiritual life. It can promote the development of real economy, for example, a large number of entertainment application projects provide people with rich spiritual wealth and real wealth, and more and more people invest in virtual currency, which represents a trend, and the more successful ones are bitcoin, Leyte coin and the new domestic King coin; On the contrary, money laundering, gambling and network theft in the virtual world will have a negative effect on the real economy.
Virtual digital currency countries are allowed
according to Sohu Finance and Economics Report: the central bank recently said that the research on digital currency has achieved phased results, striving for the early issuance of digital currency
at present, major banks in many European and American countries and regions have publicly expressed their positive attitude towards the development of digital currency. If the digital currency is successfully issued, in addition to the convenience of people's living and payment, it will also bring many benefits to the country, such as improving the transparency of economic transaction activities, and the significance of cross-border e-commerce trade can not be underestimated
It is obvious that digital currency is highly expected based on its "excellent gene". Instry insiders said that once digital currency comes out, it will be applied to many fields. Although there must be an adaptation process from paper money to digital currency and the road of its reform will be very long, it can be seen that digital currency will inevitably form a development trend. Technological innovation will overcome the problems in reality. For example, if you go to a bank to do business now, if it doesn't involve cash, the lobby manager will recommend customers to ATM and other self-service equipment. This is a good proof that technological innovation has replaced labor in the past. Now mobile applications are also very simple. It can be predicted that the technology will continue to update in the future. The use of electronic channels, digital currency and other procts in the new era will become a trend, a trend that can not be reversed at presentThe financial laws in China's financial supervision mainly include: Law of the people's Bank of China, commercial bank law, bill law, guarantee law, insurance law, securities law, trust law, securities investment fund law and banking supervision and management law
Financial laws and regulations mainly include: Regulations on the administration of savings, regulations on the administration of enterprise bonds, regulations on the administration of foreign exchange, measures for banning illegal financial institutions and illegal financial business activities, and measures for punishing illegal financial actsregulations on the administration of RMB, Interim Regulations on the board of supervisors of key state-owned financial institutions and regulations on the real name system of indivial deposit accounts
regulations on financial asset management companies, regulations on the revocation of financial institutions, regulations on the administration of foreign insurance companies, regulations on the administration of foreign banks and regulations on the administration of futures trading
Interim Measures for the administration of central enterprise bond issuance, regulations on risk management of securities companies, regulations on supervision and administration of securities companies, etc
financial supervision system is the way and organizational system of responsibility division and power distribution of financial supervision. The main international financial supervision system can be divided into two-line multi supervision system, one-line multi supervision system and single supervision system
Financial supervision system is the proct of the history and national conditions of various countries. The basic principle of establishing the mode of supervision system is not only to improve the efficiency of supervision and avoid excessive overlapping and mutual restriction of responsibilities, but also to pay attention to the mutual restriction of power and avoid excessive concentration of powerin the case that the supervision power is relatively concentrated in one supervision subject, scientific and reasonable division of internal power and division of responsibilities must be implemented to ensure the correct exercise of supervision power
on April 27, 2018, the guidance on standardizing the asset management business of financial institutions was officially released, which is referred to as the "new asset management rules" in the instry
the establishment of major policy standards such as breaking rigid cashing, banning multi-layer nesting and restraining channel business will promote the development of the asset management instry to return to its original source, and the licensees with prudent investment strategy will usher in major strategic advantages
If a country wants to develop its economy, the first problem is money. With money, government agencies can pay civil servants, and various national policies can be implemented. There are two types of state institutions related to money: financial institutions and government institutions
Financial institutions in financial institutions, the State Council is the big boss. He has three financial institutions under his command: the central bank, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission(1) people's Bank of China. Her daily work is printing and distributing banknotes, regulating currency circulation and guiding banking business. Among them, it is very important to guide the banking business, because the major banks are directly exposed to money, and the banks themselves are divided into policy banks and commercial banks
Policy banks are non-profit institutions, and the state needs to seek loans if it wants to carry out construction Commercial banks, profit-making institutions, are closely related to the common people, such as the Agricultural Bank of China, instrial and Commercial Bank of China, Bank of China and China Construction Bankthe main management currency of the above institutions is RMB, and foreign currency is also managed by the central bank. However, she gave the job to the foreign exchange administration to manage foreign exchange
(2) CIRC
the people's Bank of China mainly controls the economy by sending jobs to banks, so the institution that supervises banks will mention CIRC, which mainly manages the daily operation of banks, such as banks want to open branches, changes in senior executives, etc. The CIRC also administers non bank financial institutions and insurance institutions
in 2018, the two committees merged the China Banking Regulatory Commission and the China Insurance Regulatory Commission into the China Banking and Insurance Regulatory Commission, because China's financial model has changed and entered the era of mixed operation, with frequent cross operations among various businesses, serious problems such as regulatory overlap and regulatory vacuum, and some new financial institutions, such as wealth companies, need the coordination of the two regulatory bodies, Otherwise, there will be a regulatory blind spot
the central bank and the CIRC have a lot of business intersection, and usually cooperate with each other, but the specific work is still different, the central bank is the business guidance, and the CIRC is the regulatory operation
(3) the terms "stocks, funds and futures" of China Securities Regulatory Commission (SFC) may be familiar to investors. The institutions that can operate these businesses are all elites among the elites, referred to as "jingzhongying" for short. If these institutions are not managed properly, the stability of the financial market will be affected unprecedentedly. It is the SFC that manages themfor example, if an enterprise wants to be listed, it needs to go to the CSRC for approval. Only when it is approved by the CSRC, the stock exchange will be ready and the enterprise can issue shares
the central bank, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission all perform their respective ties and manage their own affairs, which are equal level relationships. They are the national financial institution system
2. The government should have its own department to manage the money, otherwise, how to deal with the tax collected? How to pay civil servants' wages? It's called the Ministry of finance, whose main responsibilities are: setting tax policies, issuing treasury bonds, and managing government revenues and expenditures
Because the Ministry of finance is a national institution, its structure has the typical characteristics of the government Their working mode is also very simple: the Ministry of finance makes policies, the Department of Finance implements them, and the finance bureau implements them The relationship between the central bank and the Ministry of finance is under the leadership of the State Councilwhen the state wants to manage the economy, it needs the cooperation of two institutions, such as "deleveraging" in recent years, the central bank makes banks "tighten", that is, less lending to enterprises, and the Ministry of finance should follow up "tightening", that is, the government should also spend less
summary of laws and regulations related to Internet Finance:
according to the people's Bank of China, Ministry of instry and information technology, Ministry of public security, Ministry of finance, State Administration for Instry and commerce, Legislative Affairs Office of the State Council, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission
the guidance on promoting the healthy development of Internet Finance (YF [2015] No. 221, hereinafter referred to as the guidance) jointly issued by the state Internet Information Office on July 28, 2015
at present, China's legal Internet Finance formats include: Internet payment, Internet lending, equity crowdfunding, Internet fund sales, Internet insurance, Internet trust and Internet consumer finance
in addition to the traditional laws and regulations and regulatory systems and policies, the regulatory provisions specifically for new formats mainly start from the regulation of third-party payment institutions in the people's Bank of China Document No. 2 (administrative measures for payment services of non-financial institutions) in 2010 (it is generally believed that the development and supervision of payment business is also a landmark event in the development of China's Internet finance instry)
Document No. 221 (guidance) issued by ten ministries and commissions in 2015 is not only a comprehensive summary, carding and confirmation of Internet Financial formats in recent years, but also a programmatic and "guiding" document for the implementation of regulatory policies in the future
On August 23, 2011, China Banking Regulatory Commission (CBRC) issued the notice on risk warning of Renren loan [2011] Nothis kind of intermediary companies collect information about borrowers and lenders, evaluate borrowers' collateral, such as real estate, cars, equipment, etc., then match them, and charge intermediary service fees
a lot of reports have been made on the operation and influence of such intermediary companies by the relevant media, which has aroused much attention. In this regard, the CBRC organized a special investigation, found a large number of potential risks and gave tips
It can be seen that the notice is only a risk warning document for Renren loan. At the inter ministerial joint meeting of nine ministries to deal with illegal fund-raising held on November 25, 2013, the central bank clearly defined the illegal fund-raising behavior of P2P network lending instrymainly includes three types: fund pool mode; The risk of illegal fund-raising caused by unqualified borrowers and Ponzi scheme< On June 4, 2010, the people's Bank of China issued the measures for the administration of payment services of non financial institutions (No.2 [2010]). Article 1 of the measures stipulates that the purpose of the measures is to promote the healthy development of the payment service market, regulate the payment service behavior of non-financial institutions, prevent payment risks, and protect the legitimate rights and interests of the parties
Article 2 of the measures specifies that the payment services of non-financial institutions referred to in the Measures refer to the following part or all of the monetary fund transfer services provided by non-financial institutions as intermediaries between the payees and payers:(1) online payment
(2) issuance and acceptance of prepaid cards (3) bank card receipt (4) other payment services determined by the people's Bank of China
the term "online payment" in the Measures refers to the behavior of transferring monetary funds between the payee and the payee relying on public network or private network, including currency exchange, Internet payment, mobile phone payment, fixed phone payment, digital TV payment, etc
the term "prepaid card" as mentioned in these Measures refers to the prepaid value of goods or services issued for profit and purchased outside the issuing institution, including prepaid cards issued in the form of cards, passwords, etc. by adopting magnetic stripe, chip and other technologies
the bank card acquiring in the Measures refers to the behavior of collecting monetary funds for the bank card merchants through the point of sale (POS) terminals The administrative measures for payment services of non-financial institutions is an important regulatory regulation for third-party payment< On June 4, 2009, the Ministry of culture and the Ministry of Commerce jointly issued the notice on strengthening the management of virtual currency in online games (Wen Shi Fa [2009] No. 20), which stipulates that market access should be strictly enforced and the management of issuers and providers of virtual currency trading services in online games should be strengthened
engaging in "online game virtual currency trading service" business must comply with the relevant provisions of the competent department of Commerce on e-commerce (platform) services. In addition to legal currency purchase, online game operation enterprises shall not provide online game virtual currency to users in any other way
on July 20, 2009, the Ministry of Culture issued the declaration guide for "online game virtual currency issuing enterprises" and "online game virtual currency trading enterprises", which provides operational guidance rules for the declaration and approval work of operating Internet cultural units applying for "online game virtual currency issuing service"< On September 28, 2008, the State Administration of Taxation made clear the tax treatment of virtual currency in the reply to the issue of personal income tax on the income of indivials from online trading of virtual currency (Guo Shui Han [2008] No. 818)
that is to say, the income obtained by indivials from purchasing players' virtual currency through the Internet and selling it to others after price increase belongs to the taxable income of indivial income tax, which should be calculated and paid according to the item of "income from property transfer"