What are the laws and regulations on virtual currency in China
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
in the era of material abundance, money can buy what you want and enrich your life. Therefore, people have a dream of realizing wealth freedom and entering a better life there are many such dreams, which are often used. With the development of the Internet, online transactions have become more convenient and fast, people's financial management ideas have improved, and they will take spare money to invest, but the bank interest is low, the fund will not choose, and the stock water is too deep. Generally speaking, the income can't tempt greedy people
1. It is illegal to have a financial trading platform that is not recognized by China Securities Regulatory Commission and China Banking and Insurance Regulatory Commission. With the concept of blockchain being put forward, virtual currency has become popular. In China, there are bitcoin, Leyte coin, Ruitai coin, etc. the income of these virtual currencies has been blown to be amazing. People who listen to these virtual currencies will be envious and have new illusions. They don't know that this is just a Ponzi scheme, and the virtual currency trading platform will trick investors into inviting them, After the investors' funds are cheated, there will be a series of figures. Some of them will fall sharply as soon as they buy, and smart people can stop losses. Some of them will go up sharply when they buy, and investors will continue to add chips, and finally they can't cash out
notice of the people's Bank of China, Ministry of instry and information technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on bitcoin risk prevention
notice on bitcoin risk prevention
recently, A kind of so-called "bitcoin" calculated by a specific computer program has attracted wide attention in the world, and some domestic institutions and indivials take the opportunity to hype bitcoin and its related procts. In order to protect the property rights and interests of the public, protect the legal tender status of RMB, prevent the risk of money laundering and maintain financial stability, in accordance with the law of the people's Republic of China on the people's Bank of China, the anti money laundering law of the people's Republic of China, the commercial bank law of the people's Republic of China, the telecommunication regulations of the people's Republic of China and other relevant laws and regulations, We hereby inform you of the following matters:
first, we should have a correct understanding of the attributes of bitcoin. Although bitcoin is called "currency", it is not a real currency because it is not issued by the monetary authority and has no legal compensation and mandatory monetary attributes. In nature, bitcoin should be a specific virtual commodity, which does not have the same legal status as currency, and can not and should not be used as currency in the market< Second, financial institutions and Payment institutions are not allowed to carry out bitcoin related business
at this stage, financial institutions and Payment institutions are not allowed to price bitcoin as a proct or service, buy or sell bitcoin as a central counterparties, underwrite bitcoin related insurance business or include bitcoin into the scope of insurance liability, Shall not directly or indirectly provide customers with other services related to bitcoin, including: providing customers with bitcoin registration, trading, clearing, settlement and other services; 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
Third, strengthen the management of bitcoin Internet sites
in accordance with the telecommunication regulations of the people's Republic of China and the measures for the administration of Internet information services, Internet sites providing bitcoin registration, trading and other services should be filed with the telecommunications regulatory agency
in accordance with the identification and punishment opinions of relevant administrative departments, the telecommunications regulatory authorities shut down illegal bitcoin Internet stations in accordance with the law< Fourth, to guard against the possible money laundering risk caused by bitcoin
all branches of the people's Bank of China should pay close attention to the trend and situation of bitcoin and other similar virtual commodities with the characteristics of anonymity and cross-border circulation convenience, carefully study and judge the money laundering risk, and study and formulate targeted preventive measures. All branches shall bring into anti money laundering supervision the institutions established according to law and providing bitcoin registration, trading and other services within their jurisdiction, and urge them to strengthen anti money laundering monitoring
Internet stations that provide bitcoin registration and transaction services should fulfill their obligations to fight money laundering, identify users' identities, and require users to register with real names, register name, ID number and other information.
all financial institutions, Payment institutions and Internet websites providing bitcoin registration, trading and other services should report to China Anti Money Laundering Monitoring and Analysis Center immediately if they find suspicious transactions related to bitcoin and other virtual commodities, and cooperate with the anti money laundering investigation activities of the people's Bank of China; If any criminal activity clues such as fraud, gambling, money laundering are found using bitcoin, they should report to the public security organ in time< All departments, financial institutions and Payment institutions should correctly use the concept of money in their daily work, and pay attention to strengthening the ecation of the public's knowledge of money, so as to have a correct understanding of money, a correct view of virtual goods and virtual money, rational investment, a reasonable control of investment risks, and a rational understanding of the concept of money The concept of maintaining the safety of their own property should be included in the content of financial knowledge popularization activities to guide the public to establish a correct concept of money and investment
all financial regulatory agencies may formulate relevant implementation rules in accordance with this circular
the Shanghai headquarters of the people's Bank of China, all branches, business management departments and central sub branches of provincial capital cities are requested to forward this circular to all local financial institutions and Payment institutions within their jurisdiction. Please report to the people's Bank of China in time any new situation or problem found ring the implementation of this circular.
criminal law (passed in 1979, revised in 2011)
Law of the people's Bank of China (passed in 1995, revised in 2003)
regulations of the people's Republic of China on the administration of RMB (2000)
collection of counterfeiting currency by the people's Bank of China Measures for the administration of expert testimony (2003)
interpretation of the Supreme People's Court on the specific application of law in the trial of counterfeit currency and other cases (2000)
interpretation of the Supreme People's Court on the specific application of law in the trial of counterfeit currency and other cases (2) (2010)
these series of laws and regulations, This paper makes a detailed definition of various types of currency crimes and provides corresponding punishment measures, which provides legal basis and guarantee for severely cracking down on counterfeit currency crimes, standardizing the operation and management of anti-counterfeit currency work, and safeguarding the rights and interests of holders and national interests< br />
the notice clarifies the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, 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, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
the notice requires that at this stage, all 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 into 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
according to the notice, the bitcoin Internet website, as the main trading platform of bitcoin, shall be filed with the telecommunications administration according to the provisions of the Telecommunications Regulations of the people's Republic of China and the measures for the administration of Internet information services. At the same time, in view of bitcoin's high risk of money laundering and being used by criminals, the notice requires relevant institutions to perform the legal anti money laundering obligations such as customer identification and suspicious transaction report in accordance with the anti money laundering law of the people's Republic of China, so as to effectively prevent the money laundering risks related to bitcoin
in order to avoid excessive speculation 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
in the future, the people's Bank of China will continue to pay close attention to the trend and related risks of bitcoin based on its own responsibilities (end)
order of the people's Bank of China
[2003] No. 4
is issued, The people's Bank of China has formulated the administrative measures for the collection and identification of counterfeit currency of the people's Bank of China, which were adopted at the 43rd president's office meeting on December 3, 2002, are hereby promulgated and shall come into force as of July 1, 2003<
President: Zhou Xiaochuan
April 9, 2003
measures of the people's Bank of China for the collection and identification of counterfeit currency
Chapter I General Provisions
Article 1 is to regulate the collection and identification of counterfeit currency and protect the legitimate rights and interests of currency holders, These measures are formulated in accordance with the decision of the Standing Committee of the National People's Congress on punishing crimes against financial order and the regulations of the people's Republic of China on the administration of RMB<
Article 2 These Measures shall apply to the collection of counterfeit currency by financial institutions handling money deposit and withdrawal and foreign currency exchange business, and the authentication of currency by the people's Bank of China and its authorized appraisal institutions
Article 3 the currency mentioned in these Measures refers to RMB and foreign currency. RMB refers to the currency legally issued by the people's Bank of China, including banknotes and coins; Foreign currency refers to the legal tender of other countries or regions within the territory of China (except Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan)
as mentioned in these measures, counterfeit currency refers to forged or altered currency
counterfeit money refers to counterfeit money made by various means, which imitates the pattern, shape and color of real money
altered money refers to the counterfeit money which is made on the basis of real money by means of mending, uncovering, erasing, patching, shifting, reprinting and other methods to change the original form of real money<
the financial institutions (hereinafter referred to as "financial institutions") in these Measures refer to the business institutions of commercial banks, urban and rural credit cooperatives and postal savings
the appraisal institutions authorized by the people's Bank of China as mentioned in these Measures refer to the commercial banking institutions with the technology and conditions for currency authenticity appraisal and authorized by the people's Bank of China< Article 4 the counterfeit money collected by financial institutions shall be handed over to the local branches of the people's Bank of China at the end of each quarter, which shall be destroyed by the people's Bank of China and shall not be handled by any department on its own< Article 5 the people's Bank of China and its branches shall supervise and manage the collection and identification of counterfeit currency in accordance with these measures< Chapter II Collection of counterfeit money Article 6 if a financial institution finds counterfeit money when handling business, two or more business personnel of the financial institution shall collect it face to face. For counterfeit RMB banknotes, the word "counterfeit" shall be stamped on the face; The counterfeit foreign currency notes and various counterfeit coins shall be sealed with a special bag in a unified format, and the seal shall be stamped with the word "counterfeit currency", and the special bag shall be marked with currency, voucher type, denomination, number of sheets (pieces), number of crown words, collector, name seal of rechecker, etc. The financial institution that collects the counterfeit currency (hereinafter referred to as "the collecting unit") shall issue the certificate for the collection of counterfeit currency uniformly printed by the people's Bank of China to the holder, and inform the holder that if he has any objection to the authenticity of the collected currency, he may apply to the local branch of the people's Bank of China or the local appraisal institution authorized by the people's Bank of China for appraisal. The seized counterfeit currency shall not be handed over to the holder< Article 7 If a financial institution has any of the following circumstances in the process of collecting counterfeit currency, it shall immediately report to the local public security organ and provide relevant clues:
(1) more than 20 pieces of counterfeit RMB (including 20 pieces) and more than 10 pieces of counterfeit foreign currency (including 10 pieces) are found at one time< (2) making counterfeit money by new means of counterfeiting< (3) there are clues for manufacturing and selling counterfeit currency< (4) the holder does not cooperate with the financial institution in the collection
Article 8 the personnel handling the business of collecting counterfeit currency shall obtain the anti counterfeit currency qualification certificate The anti fake currency qualification certificate shall be printed by the people's Bank of China. All branches, business management departments and central sub branches of provincial capital cities of the people's Bank of China are responsible for training and examination of relevant business personnel of financial institutions in their respective provinces (autonomous regions and municipalities directly under the central government) and issuing anti counterfeit currency qualification certificates
Article 9 a financial institution shall separately manage the collected counterfeit currency and establish a register for the collection and custody of counterfeit currency< Article 10 if the holder has any objection to the authenticity of the seized currency, he / she may, within 3 working days from the date of collection, file a written application for identification with the local branch of the people's Bank of China or the local appraisal institution authorized by the people's Bank of China, directly or through the collection unit, with the certificate of collection of counterfeit currency
branches of the people's Bank of China and appraisal institutions authorized by the people's Bank of China shall provide the service of appraising the authenticity of currency free of charge. After appraising, the appraisal certificate of currency authenticity uniformly printed by the people's Bank of China shall be issued, and the special seal for currency appraisal and the name seal of appraiser shall be stamped
the appraisal institution authorized by the people's Bank of China shall publicize the authorization certificate in its business place< Article 11 the branches of the people's Bank of China and the appraisal institutions authorized by the people's Bank of China shall, within 2 working days from the date of receiving the appraisal application, notify the collecting unit to submit the currency to be appraised
the collecting unit shall deliver the currency to be appraised to the appraisal unit within 2 working days after receiving the notice from the appraisal unit< Article 12 the branches of the people's Bank of China and the appraisal institutions authorized by the people's Bank of China shall issue the appraisal certificate of currency authenticity within 15 working days from the date of accepting the appraisal. If the project cannot be completed within the specified time limit e to complicated circumstances, it can be extended to 30 working days, but the reasons must be explained in writing to the applicant or application unit
Article 13 for RMB banknotes stamped with the word "counterfeit banknotes", if they are identified as genuine banknotes, the identification unit shall hand them over to the collecting unit and return them to the holder according to the face value. The holder's "certificate for collection of counterfeit banknotes" shall be recovered, and the people's banknotes stamped with the word "counterfeit banknotes" shall be treated as damaged RMB; If it is identified as counterfeit currency, the identification unit shall confiscate it, and issue a certificate of authenticity of currency and a receipt for confiscation of counterfeit currency to the collecting unit and the holder
if the collected foreign currency notes and coins are identified as real ones, the identification unit shall hand them over to the collecting unit, return them to the holder, and take back the certificate of collection of counterfeit currency; If it is identified as counterfeit currency, the identification unit shall return the counterfeit currency to the collecting unit and collect it according to law, and issue the certificate of currency authenticity to the collecting unit and the holder< Article 14 when the branches of the people's Bank of China and the appraisal institutions authorized by the people's Bank of China identify the authenticity of currency, at least two appraisers shall participate in the appraisal at the same time and draw an appraisal conclusion
Article 15 when the branches of the people's Bank of China Re count the returned money paid by a financial institution, they shall confiscate it after identification, issue a receipt for confiscation of counterfeit money to the paying unit, and require it to make up the returned money of the same amount
Article 16 if the holder has any objection to the specific administrative act of collecting or identifying counterfeit currency made by a financial institution, he may apply for administrative reconsideration to the branch of the people's Bank of China that directly supervises the financial institution or file an administrative lawsuit according to law within 60 working days from the date of receiving the certificate of collecting counterfeit currency or the certificate of identifying the authenticity of currency
if the holder has any objection to the specific administrative action made by the branch of the people's Bank of China on the identification of counterfeit currency, he / she may apply for administrative reconsideration to his / her superior institution or file an administrative lawsuit in accordance with the law within 60 working days from the date of receiving the certificate of identification of currency authenticity< Article 17 If a financial institution commits one of the following acts, but does not constitute a crime, it shall be warned and fined by the people's Bank of China, and at the same time, it shall instruct the financial institution to give corresponding disciplinary actions to the relevant persons in charge and other persons directly responsible:
(1) failing to collect counterfeit currency after discovering it< (2) failing to collect counterfeit currency in accordance with the proceres of these measures< (3) those who should report to the people's Bank of China and the public security organs but do not report< (4) intercepting or privately handling the collected counterfeit money, or making the collected counterfeit money flow back into the market
if the above behaviors involve fake RMB, the financial institutions will be fined not less than 1000 yuan but not more than 50000 yuan; In case of false foreign currency, financial institutions shall be fined less than 1000 yuan< Article 18 If an appraisal institution authorized by the people's Bank of China commits one of the following acts but does not constitute a crime, the people's Bank of China shall give it a warning and a fine, and at the same time instruct the financial institution to give corresponding disciplinary actions to the relevant person in charge and other persons directly responsible:
(1) refuse to accept the holder's application, and The application for currency authenticity authentication submitted by a financial institution< (2) failing to identify counterfeit currency in accordance with the proceres of these measures< (3) intercepting or privately disposing of the counterfeit money identified or collected, or making the collected or confiscated counterfeit money flow back into the market
if the above-mentioned behavior involves fake RMB, the authorized appraisal institution shall be fined not less than 1000 yuan but not more than 50000 yuan; If fake foreign currency is involved, the authorized appraisal institution shall be fined less than 1000 yuan< Article 19 If a staff member of the people's Bank of China commits one of the following acts but does not constitute a crime, the person in charge directly responsible and other persons directly responsible shall be given administrative sanctions according to law:
(1) failing to identify counterfeit currency in accordance with the proceres of these measures< (2) refusing to accept the application for authentication or re authentication of currency submitted by the holder, financial institution or authorized appraisal institution< (3) intercepting or privately disposing of the counterfeit money identified, collected or confiscated, or making the collected or confiscated counterfeit money flow back into the market< Article 20 these Measures shall come into force as of July 1, 2003< Article 21 the people's Bank of China shall be responsible for the interpretation of these measures.