Virtual currency is not protected by law in China
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>since then, the network and shell electronics have announced the stop of bitcoin payment. Recently, the central bank interviewed the third party payment agencies. Alipay and Fu Tong pass closed the virtual currency trading window such as bitcoin, resulting in a further fall in bitcoin prices.
it is also reported that the cooperation between banks and bitcoin trading platform is not supported by the regulatory authorities, which basically turns off the possibility of recharge and withdrawal on bitcoin platform, that is, blocking the mutual exchange between domestic bitcoin and RMB
bitcoin trading platforms such as "bitcoin China" and okcoin also resumed to charge 0.3% transaction fees, and increased the withdrawal fees to 1%. Some analysts believe that this is to prevent a large number of investors from cashing out
all kinds of signs show that bitcoin is getting worse and worse in China. However, the conclusion of bitcoin's exit from China may be overstated
first, bitcoin can be freely traded as a commodity
although the central bank does not recognize the legal tender status of bitcoin, it does not deny the legitimacy of bitcoin as a commodity and does not prohibit investment, trading and purchase of bitcoin. Ordinary people have the freedom to participate at their own risk
Second, the bitcoin trade has not collapsed yet
a bitcoin player said that the current transaction price of bitcoin is not low enough to lead to the collapse of the trade. The price of bitcoin is still higher than the cost price of bitcoin, that is, the price of mining< Third, the transaction channel is not blocked
although some third-party payments have stopped supporting bitcoin transactions, and banks are not optimistic, bitcoin trading platform can also use other third-party payment interfaces, or use foreign payment interfaces to pay. Some bitcoin trading platforms are considering transferring their servers abroad
the above-mentioned bitcoin player said that he once withdrew cash from his personal account to remit money to him. In other words, bitcoin transaction may bypass the third-party payment
at the same time, cash transaction is also a possible way of transaction< Four, the biggest risk of bitcoin trading is not regulation
the biggest risk of bitcoin trading is not government regulation, but security risks
bitcoin is at risk of being stolen by hackers. If there is a large-scale loss of bitcoin, it will directly affect the fairness of market transactions, which is a real "bottom-up"
however, at present, the security risks of bitcoin have not been fully exposed
the overall risk has increased
it must be admitted that the government's increased supervision has further increased 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.
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
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
in a word, virtual currency represented by bitcoin is legal in China, but the government takes a cold attitude towards virtual currency, which is neither positive nor negative. Most of the major countries in the world also adopt a cold attitude towards virtual currency
since 2015, the popular virtual currencies are bitcoin, Laite coin, Fuyuan coin, doggy coin, reborn coin and so on.
There are two reasons for the prohibition of virtual currency trading by the state:
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 everyone's control. 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
bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses
2. Evade supervision and become the "accomplice" of criminal activities:
bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"
the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value
extended information
virtual currency transactions are not protected by law:
according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion
in terms of nature, virtual currency 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. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law
adopted, thank you