Is China's RMB digital currency safe

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

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's illegal

in September 2017, the people's Bank of China issued an announcement on preventing the financing risk of token issuance, which formally determined that ICO is illegal financing without approval, and no organization or indivial is allowed to participate

later, it was announced on April 23, 2018 that the left and right digital currency ICO platforms had all withdrawn from the Chinese market, so the current ICO is illegal in China

after announcing that ICO is an illegal financing activity, the central bank also listed services such as trading, exchange, pricing and information intermediary for virtual currency as prohibited items, which means that digital currency exchange is illegal in China

all trading platforms, including bitcoin China, okcion and fire coin, announced in 2018 that they would stop the RMB recharge business and graally shut down their trading platforms. As of April 2018, all digital currency exchanges had completely withdrawn from the Chinese market

digital currency generally has a special digital currency exchange. We can buy the digital currency we need in our digital currency exchange

we can buy from our friends in addition to the exchange. If a friend has something, you can discuss and ask if he can sell it to you

we can buy our digital currency from traders nearby if we need more

we accept payment by digital currency payment service. If we open a physical store, we can support payment by digital currency, so we can also get our digital currency

finally, we can get digital currency by mining, and we can get digital currency by equipping mining machine to work mining, such as investing more hardware

digital currency trading: it can be traded only after RMB or digital currency is recharged in a third-party digital currency exchange

purchase of digital currency: no matter how many coins you buy, there is no limit. For example, if bitcoin is 100000 yuan, you can buy 0.0001, and there is no limit on how many coins you can buy or sell

digital currency trading time: 365 days a year, 24 hours a day, can be traded

Yin Zhentao, deputy director of the law and Finance Research Office of the Financial Research Institute of the Chinese Academy of Social Sciences, said that digital currency faces two risks. The first is the technical level. Digital currency relies on blockchain technology and a system, which will make it suffer from security impact, such as hacker attacks on computer systems. We have seen many practical problems in this process

Zhao Zhanzhan, a special researcher of intellectual property research center of China University of political science and law, believes that digital currency has anonymity, quickness and irrevocability. In addition, bitcoin and other digital currencies have high circulation in the world, so many criminals use digital currency as a new money laundering channel. Moreover, there are many different ways to realize money laundering through digital currency. Generally speaking, the probability of new money laundering being found and investigated is lower than before. Many countries have no effective means and technology to combat money laundering through digital currency. These factors lead to criminals prefer this way of money laundering

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

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

Recently, more and more cities are experimenting with digital RMB: Beijing, Shanghai, Xi, Sanya, Suzhou and other places, especially Shanghai Tongren Hospital, have begun to realize "double line" payment

finally, the digital Renminbi can protect privacy at a deeper level. Because the digital renminbi is the legal tender issued by the central bank, only the central bank or the third party state authorized by the central bank can know the use of your digital renminbi, and will not disclose our data to the merchants, but Alipay will not be the same. When you use Alipay as payment, many businesses will immediately push it to your mobile phone. It's annoying! p>