Laite currency policy

1. China's law on the supervision of digital currency is still a blank. Digital currency is in a gray area in China. If it is not prohibited by law, it can be used. However, there are still some normative provisions on digital currency in China
at the end of 2013, the central bank and other five ministries and commissions jointly issued the bitcoin risk notice, which clearly defined bitcoin as a special Internet commodity, and people can buy and sell it freely at their own risk. But it denies its monetary attribute. At this stage, bitcoin cannot and should not be used as currency
Ruitai, Qianjin card, Laite and other digital currencies are all applicable to the definition of bitcoin. Digital currency can exist as a commodity.

3. There is no policy to prohibit the trading of virtual currency in China, and the trading of virtual currency is legal in China
at the end of 2013, the central bank and other five ministries and commissions jointly issued the bitcoin risk notice, in which bitcoin was clearly defined as a special Internet commodity, and people could buy and sell freely at their own risk, denying its monetary attribute. At this stage, financial institutions are not allowed to provide bitcoin related services. The transaction platform supporting its transaction must do a good job in anti money laundering< In an interview with the Boao Forum, President Yang Xiaochuan compared bitcoin to a tradable asset like a stamp, which the central bank has no right to ban
since 2013, popular virtual currencies include bitcoin, Laite coin, Fuyuan coin, doggy coin, reborn coin, etc.

4. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity
response time: December 15, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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7. In China, no company that issues virtual currency has been granted policy permission. China has a laissez faire attitude towards virtual currency. The following is China's position on virtual currency:

Zhou Xiaochuan, governor of the central bank, said at last year's Boao Forum that bitcoin, like stamps collected by stamp collectors, has collection value, and people regard it as an asset to trade rather than a payment currency, so there is no question of banning it for the central bank. This is also the only time central bank governor Zhou Xiaochuan has made a statement on the currency

in the bitcoin risk notice issued by the central bank and other five ministries and commissions at the end of 2013, bitcoin was clearly defined as a special Internet commodity, which people can buy and sell freely under the premise of free but risk, denying its monetary attribute. At this stage, all financial hooks are not allowed to provide bitcoin related services

since 2013, the popular virtual currencies are bitcoin, Fuyuan coin, Laite coin, doggy coin and so on.

8. In 2015, the Chinese government did not issue any policies on virtual currency. The only policy is that the central bank defined bitcoin as a special Internet commodity in 2013 and denied its monetary attribute. In 2015, the central bank held a seminar on digital currency, and the central bank planned to issue digital currency. There are no other policies, but in general, no matter what policies are put forward, bitcoin, Ruitai coin and Weimeng coin, which are normal digital currencies, have little influence.

9. If the central bank really issues digital currency, the paper currency will not shrink, and digital currency and paper currency can coexist in equal value. Moreover, the digital currency that the central bank plans to issue is just legal tender digital currency. In fact, it has the same effect as paper money, but it is more convenient to use. Moreover, the digital currency issued by the central bank is different from the encrypted digital currencies such as bitcoin, Leyte and decent.