Supervision department should be responsible for the flow of vir

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Following the release of the risk warning in early January to prevent disguised ICO (token issuance and financing) activities, recently, the China Internet Finance Association once again prompted that investors should recognize the risks of overseas ICO and "virtual currency" trading platforms. Moreover, it is understood that China will take regulatory measures on the website of virtual currency overseas trading platform, and the regulation of virtual currency is still increasing

as the most representative virtual currency, the risks behind bitcoin actually exist in most virtual currencies. However, some people still think that this is a "tuyere" that can not be missed. In September last year, the people's Bank of China and other seven ministries and commissions took measures to require the virtual currency exchange to completely shut down all its trading activities in China. Since then, some people have turned to overseas platform websites to continue to participate in virtual currency trading. At the same time, some institutions or indivials in China are still organizing the so-called currency trading and OTC trading, with market makers, guarantors and other services. In essence, this is still a virtual currency trading place, which is obviously inconsistent with the current policies and regulations

for investors, cooling down bitcoin just gives them time to think coldly. As governments around the world pay more attention to the supervision of virtual currency, some overseas trading platforms have been restricted e to obvious compliance risks, and some may be banned by the host government. It seems that the beautiful "tuyere" may be a trap, but it can't be regarded as a right investment method just because some people have made a fortune through it. Investors still need to take the initiative to strengthen risk awareness, always keep rational, away from all kinds of illegal financial activities

for enterprises, any innovation should be based on legal compliance. Whether it's the realization of the value of the new currency or the application of the blockchain technology in the scene, some people may taste the benefits by relying on the hot concept alone, but more people will be broken. Those ideas that are just to attract attention and stir up the concept to make money will eventually be broken. Only by doing solid research, focusing on the main business or technology itself, and speaking with procts, can an enterprise achieve long-term development

must be strictly supervised

2. Reason: with the rapid development of information technology, real money is far from meeting people's demand for capital flow. If there are enough people to recognize the value of a virtual currency, it may become a substitute unit of material exchange, and the existence of virtual currency will inevitably cause another upsurge in the financial sector
in view of the possible risks of virtual currency, many international organizations and central banks have responded publicly to the supervision of virtual currency system. These responses can be roughly divided into four categories: warning and risk warning, supervision and registration permission, legislative norms, and explicit prohibition
(1) warning and risk warning
some central banks and regulators have issued risk warnings against the special currency and virtual currency system. The federal financial regulatory authority of Germany, the Bank of France, the central banks of the Netherlands and Belgium have issued public warnings against the possible money laundering and terrorist financing caused by the use of bitcoin. In the report released at the end of 2013, the European Banking authority (EBA) warned consumers of many risks of virtual currency, such as exchange loss, e-wallet theft, unprotected payment, price fluctuation and so on. Although Spain did not have a similar risk warning, it issued a timely information announcement related to virtual currency
(2) supervision and registration license
generally speaking, international organizations believe that the supervision of virtual currency should find a balance between risk prevention and innovation promotion. Since 2012, Sweden has required transactions related to virtual currency to be registered with financial regulators. Other countries pay attention to qualification supervision, so as to make it indirectly meet the requirements of prudential supervision. In other countries, the regulation mainly focuses on the business model of virtual currency transaction. The financial prudential regulatory authority of France regards the provision of bitcoin circulation and trading services and the act of earning funds in the process as a payment service and requires the authorization of the government. In addition, some countries focus on the intermediary institutions related to virtual currency. The German federal financial regulatory agency and Danish regulators believe that the provision of intermediary services for virtual currency needs to be authorized< (3) legislative norms
at present, some countries have proposed legislation to regulate virtual currency transactions. Canada plans to legislate to allow the government to supervise the transaction of bitcoin, and to include the transaction of more than US $10000 into the scope of suspicious supervision. The United States hopes to adjust the relevant legal structure should be compared with the development of the special currency. In order to make the Bank Secrecy Act (BSA) applicable in the context of network, the financial crime enforcement network (FinCEN) of the U.S. Department of the Treasury issued the explanatory guidance on the behavior and subject definition of private generation, holding, distribution, trading, acceptance and transmission of virtual currency in 2013. The European central bank stressed that it should strengthen international cooperation under the existing legal framework, and regulate virtual currency from the European and global level under the existing legal framework. More countries believe that bitcoin is not a currency in circulation, has no legal status, and does not meet the definition of financial instruments, such as Finland, Sweden, Malaysia and Indonesia
(4) it is forbidden
in some countries, bitcoin related transactions are prohibited. In December 2013, the people's Bank of China banned financial institutions from trading in bitcoin, which was subsequently extended to payment service providers. The central banks of Thailand and Indonesia share the same attitude. The circulation of anonymous internet currency (including bitcoin) is prohibited by the Russian judicial inspection department as a substitute for currency. The Central Bank of Russia has earlier included the provision of bitcoin services in the scope of suspicious transaction monitoring. The U.S. Securities and Exchange Commission (SEC) has banned the issue of unregistered shares in exchange for bitcoin, and unregistered online securities trading activities in virtual currency.

3. ​ In recent years, the speculation related to virtual currency (such as ICO, IFO, IEO, IMO and STO) has been in vogue. The price has gone up and down, and the risk has gathered rapidly. Relevant financing entities raise funds from investors or virtual currencies such as bitcoin and Ethereum through illegal sale and circulation of tokens. In essence, they are illegal public financing without approval. They are suspected of illegal sale of token bills, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other illegal crimes, which seriously disrupt the economic and financial order

on September 4, 2017, the people's Bank of China and other seven ministries and commissions issued the "notice on preventing the financing risk of token issuance", which cleaned up the ICO and virtual currency trading venues. The scale of domestic virtual currency transactions decreased significantly, effectively avoiding the impact of virtual currency prices on China's financial market.

4. We will continue to strengthen our efforts to crack down on money laundering of virtual currency. Because virtual currency is illegal in our country and not protected by law, it is necessary to crack down on it.

5. The main purposes are as follows:

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4. Protect the property rights and interests of the public, protect the legal tender status of RMB, prevent the risk of money laundering and maintain financial stability
5. Avoid excessive speculation in the name of "virtual currency" for virtual commodities such as bitcoin, which will damage the public interest and the legal tender status of RMB.

6. Q-coin is not a currency, it's just Tencent virtual currency officially launched by Tencent, it's an enterprise virtual currency
the central bank's supervision of virtual currency is mainly reflected in the supervision of bitcoin. The central bank forbids any enterprise or indivial to use bitcoin as a payment tool. As a payment tool, virtual currency has great risks, Therefore, the central bank's supervision of virtual currency is very strict

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The mutual fund association said that at present, the relevant management departments have basically completed the clean-up and rectification of domestic ICO activities and "virtual currency" trading venues, ring which some investors turned to overseas to carry out relevant activities. According to the relevant national management policies, the network access channels and payment channels of domestic investors may be affected, and investors will suffer losses. It is understood that recently, as many countries pay attention to strengthening the supervision of the "virtual currency" field, some overseas trading platforms may be forcibly banned by the host country's government, and some overseas trading platforms have been restricted from access e to obvious compliance risks

on September 4, 2017, the central bank and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly pointed out that all kinds of token issuance financing activities should be stopped immediately from the date of the announcement; All financial institutions and non bank payment institutions shall not carry out business related to token issuance financing transactions; For the token financing trading platform with illegal problems, the financial management department will request the competent department of telecommunications to close its website platform and mobile app according to law, request the network information department to remove the mobile app from the app store, and request the instrial and commercial administration department to revoke its business license according to law