Is IRFA cryptocurrency legal in China

1.

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

2. It's not illegal to issue digital currency in China. It doesn't need the next three years. Now people have already issued digital currency. For example, Ruitai, bitcoin, Yuanbao and sandcoin are all digital currencies issued by domestic companies. But if not

3. Cryptocurrency is legal in China. Encrypted digital currency is a part of digital assets, and QQ, game accounts, game equipment are protected by law in China
encrypted digital currency generally refers to bitcoin, Ethereum, lightcoin, DCT and other open source currencies.

4. Different people have different opinions on this issue! A lot of people and the media questioned it. But there are still a lot of people playing. The yield of this kind of currency may be relatively high, but it is unreliable. It is suggested to invest in digital currencies such as bitcoin, Ruitai coin and Qianjin card.

5. The factors related to the degree of non-governmental recognition and international recognition can't just be controlled. It's the same in foreign countries, just depending on its status

6. From the price rise of bitcoin, we can see that in recent years, China has stepped up efforts to crack down on corruption, various measures of bank supervision have been strengthened, and underground banks have also been subject to strict supervision and control. Many illegal capital outflow channels in China are seriously blocked, making money laundering more difficult. The trend of bitcoin provides a simple way to transfer assets. In fact, it's time for the state to supervise the shearing of China's social wealth by foreign countries, coupled with numerous crazy scams, which lead to numerous Chinese people being deceived. In the long run, without the credit of the country, any speculation is illusory. Now bitcoin has only speculative value.

7. I'm a lawyer. I've never heard of such a law

8.

As of November 30, 2018, ELFA has not been recognized as a pyramid scheme. ELFA is a virtual currency proct of ELFA Holding Group Co., Ltd. Alfa Holding Group Co., Ltd. is Shanghai Hengfeng Computer Network Technology Co., Ltd. You can also judge whether it is pyramid selling according to Article 7 of the regulations on the prohibition of pyramid selling

According to Article 7 of the regulations on the prohibition of pyramid selling, the following acts belong to pyramid selling:

(1) organizers or business operators require other personnel developed by the developed personnel to join in through developing personnel, and the developed personnel shall be calculated and paid remuneration (including material rewards and other economic benefits, the same below) based on the number of personnel developed directly or indirectly, Seeking illegal interests

(2) the organizer or business operator, through the development personnel, requires the personnel to be developed to pay fees or pay fees in disguised form by way of subscribing for commodities, so as to obtain the qualification of joining or developing other personnel to join and seek illegal interests

(3) the organizers or business operators, through the development personnel, require the development personnel to develop other personnel to join, form the relationship between the upper and lower line, and calculate and pay the online remuneration based on the sales performance of the lower line, so as to seek illegal interests

the following is the media report:

on December 29, 2016, the Fengtian banquet hall of Shangri La Hotel in Shenyang, Liaoning Province was filled with laughter and guests. The 2016 award ceremony of Shanghai Hengfeng Computer Network Technology Co., Ltd. was held here. Alfa group's senior management team from South Korea, as well as instry elites and news media representatives from South Korea, Vietnam, the United States, France, Japan, the United Kingdom and China attended the ceremony

the participants watched the promotional video of Alfa Group Co., Ltd. and Mr. Pu, the person in charge of Shanghai Hengfeng Computer Network Technology Co., Ltd., delivered a speech on behalf of the head office. In his speech, he shared the company's entrepreneurial history and achievements, emphasizing that development originates from dreams, is based on struggle, and is focused on persistence

he hoped that all the staff of the company would carry forward the spirit of indomitable struggle, fearless of difficulties and keen market insight, seize the opportunity, forge ahead with determination, fight bravely in the tide of market economy, and write a brilliant history with hard-working hands and wisdom. Ten years of sharpening a sword, summing up the past, looking forward to the bright future of the company, Alfa will be more brilliant tomorrow

ring the celebration, elite representatives from all over the country made inspirational speeches, held lucky draw activities and artistic performances, presented a number of wonderful programs for guests, and presented a cultural feast. The company also rewarded the sales elites, and the whole celebration was full of laughter and applause

as the currency of the previous generation, paper money has low technology content. From the perspective of safety and cost, it is the general trend to be replaced by new technology and new procts. In particular, with the development of the Internet and the great changes in payment methods all over the world, the establishment of digital currency issuance and circulation system is very necessary for the construction of financial infrastructure and the promotion of economic quality, efficiency and upgrading

Alfa Holding Group Co., Ltd. is also the only company that has obtained the license of Korean e-virtual currency among hundreds of virtual currency companies in South Korea. ELFA is the virtual currency with the widest combination of e-money scarcity and service application. On the basis of bitcoin technology, R & D technology and mining system are more optimized and perfect. At the same time, it has a wide range of service application value and huge revenue prospects

9.

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