Is China's virtual currency illegal
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.
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 2013, the people's Bank of China issued the notice on preventing bitcoin risks. Later, it was reported that the people's Bank of China had an interview with more than 10 third-party payment companies, explicitly requiring them not to provide payment and clearing services to bitcoin, lightcoin and other trading websites. The price of bitcoin in China has dropped all the way from about 7000 yuan to 3300 yuan. More analysis says that bitcoin will withdraw from China. Is that true
However, at present, the security risks of bitcoin have not been fully exposedthe overall risk increases
it must be admitted that the government's increased supervision leads to the further increase of the risk of bitcoin trading
moreover, the transaction threshold is obviously higher than before
In essence, as a means of investment, the risk of bitcoin is self-evident. If there is no final person to take over the offer, even if bitcoin is in short supply, it lacks real value and only has limited online use value. If you can't find the last recipient, bitcoin will probably disappear like a bubble. p>It's illegal
the central bank indicated that it 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
In addition, 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
extended information:
virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. This kind of virtual currency is mainly limited to circulation in a specific virtual environment. Digital currency can be used for real goods and services transactions, but only the digital currency issued by the state is legal digital currency
in 2013, the central bank, together with five ministries and commissions, issued the notice on prevention of bitcoin risks, which clearly defined non legal digital currencies such as bitcoin as virtual commodities, which do not exist in the form of currency and legal currency
It is illegal to buy and sell digital currency in China
according to the announcement on preventing the financing risk of token issuance jointly issued by the central bank and other seven ministries and commissions, the announcement points out that any so-called token financing trading platform shall not engage in the exchange business between legal currency and token and "virtual currency", and shall not buy or sell tokens or "virtual currency" as the central counterparties, It is not allowed to provide pricing, information intermediary and other services for token or "virtual currency"
the announcement points out that token issuance financing refers to the so-called "virtual currency" raised from investors through illegal sale and circulation of tokens. In essence, it is an unauthorized illegal public financing behavior, suspected of illegal sale of token tickets, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal and criminal activities
extended information:
the central bank said that the so-called "digital currency" in the market is not legal digital currency:
the central bank's monetary Bureau issued a "risk warning on issuing or promoting digital currency in the name of the people's Bank of China" on its official website, saying that recently, indivial enterprises falsely use the name of the central bank, The relevant digital procts are labeled as "authorized issuance by the people's Bank of China", or the central bank's digital currency promotion team is falsely claimed, in an attempt to deceive the public and take the opportunity to make huge profits
the central bank said that the central 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 also suggested 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
in fact, virtual currencies such as bitcoin and lightcoin are representatives of the so-called digital currency. The central bank said in 2016 that it was studying China's legal digital currency. Yao Qian, director of the digital currency Research Institute of the people's Bank of China, previously told the media that the prototype scheme for the central bank to issue legal digital currency has completed two rounds of revision, and is expected to be tested in relatively closed application scenarios such as the bill market in the future, but there is no clear timetable for its launch
since 203, the more popular virtual currencies are bitcoin, Wright coin, Fuyuan coin, doggy coin, dark coin, reborn coin and so on.
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