Virtual currency of commercial law
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Japan
among Asian countries, Japan seems to be the first country to support cryptocurrency. On the contrary, in the past few years, China has been cracking down on ICO and closing down the trading business of digital currency exchanges in China. Compared with China's strict restrictions, Japan is undoubtedly far ahead in the field of cryptocurrency
maybe it's because of the anonymous people (or teams?) who developed bitcoin Japan's pseudonym is Nakamoto, so Japan's friendliness to cryptocurrency ranks at the top
after being attacked by hackers, the Japanese based Mt. GOx exchange finally closed down in February 2014, which is still the biggest scandal in the digital currency world. After that, Japan's licensed cryptocurrency exchanges came together to form a new self regulatory organization, which put forward guidelines to legalize ICO and formulated clear instry standards to protect investors, while allowing the instry to grow and continue to innovate
members of this association, called ICO business research group, include members of Parliament, academics, bankers and the CEO of bitflyer. Bitflyer is the largest cryptocurrency exchange in Japan. According to the government study, the legislature may allow potentially profitable ICO and cryptocurrency exchanges to continue trading, but at the same time, it must provide the government with more insight into these activities and enhance transparency
blockchain, and each token is said to be supported by one barrel of crude oil. However, analysts generally believe that Maro is obviously lying
nevertheless, as of the end of April, it was reported that Venezuela could offer India a 30% discount if India used petro currency to pay for its crude oil. Bitcoin magazine reported that "Venezuela has assured the buyer that petro currency will have all the functions of legal tender, can pay taxes and can be converted into Venezuelan hard currency, namely Bolivar
while many people are skeptical of petro itself and the Venezuelan government's move to integrate cryptocurrency into its declining economy, others believe that any effort to win the credibility of cryptocurrency is worthwhile. David Garcia, senior vice president and partner of ripio credit network, pointed out that Latin America is going through a transitional period
Latin America is in a difficult situation e to political corruption and economic crisis, and is troubled by high inflation and rapid devaluation of local currency, especially in Venezuela. Garcia believes that innovative ideas and solutions such as blockchain and cryptocurrency are necessary for these countries to develop in a positive direction3. Sweden
in 2015, Sweden became the first country in Europe to approve the trading of two kinds of bitcoin exchange traded notes (ETN), which are managed by XBT providers. The Swedish Krona denominated bitcoin tracker one XBT (ST: se0007126024) fund and bitcoin tracker EUR XBT provider (ST: se0007525332) can be traded on Nordic Nasdaq, the main Swedish exchange
since its launch, XBT has been launched in Denmark, Finland, Estonia and Latvia. As of early December 2017, cointegraph announced that Sweden's ETN "is more than 80% of the US ETF". In mid January, CNBC said that Sweden's bitcoin investment project attracted $1.3 billion
in addition, the Swedish central bank has been considering the development of an electronic currency called e-krona to cope with the situation that Sweden is rapidly becoming the first cashless society in the world. However, Sweden's banking sector has hit back. Hans Lindberg, chief executive of the Swedish Bankers Association, said in an interview on April 17: "in terms of e-money, there is already a lot. There are bank cards, credit cards... And other electronic solutions. The most likely scenario in the future is that the Swedish central bank will stick to wholesale business. "< However, James Pomeroy, a global economist at HSBC, believes that Sweden is still likely to become the first country in the world to issue digital currency, which may be launched in the next few years. Venezuela may be ahead in government supported cryptocurrency issuance, but Sweden, a Scandinavian country with stronger economy and more trusted regulators, may still disrupt the existing order of cryptocurrency and even lead the European cryptocurrency instry< Switzerland
4. The Swiss financial market supervision authority is at the forefront in clarifying the regulation of cryptocurrency and supporting ICO. Marc bernegger, a Swiss financial technologist, cryptocurrency entrepreneur and consultant to Swiss real coin, said Switzerland has traditionally been a haven of wealth. To some extent, this benefits from Switzerland's more open financial regulation and a long culture of protecting the privacy of Swiss banking institutions' customers. Bernegger pointed out that Switzerland has been "looking forward" to cryptocurrency assets as part of overall wealth management and is "preparing for changing economic forms."
the surrounding area of Zug in North Central Switzerland is called crypto Valley, which has been called crypto valley since Ethereum ICO was launched in 2014. For cryptocurrency entrepreneurs, developers and investors, cryptovalley is one of the most active ecosystems,5. Israel
in Israel, discussions on the regulation of cryptocurrency continue, and legislators are looking for ways to protect investors. Although Israel's banking system has failed to help promote bitcoin related business, Union Bank of Israel, the sixth largest bank in Israel, is being sued by a local cryptocurrency miner for stopping transferring funds from bitcoin exchange to the miner; In addition, Israel's second-largest bank, bank Leumi, was intervened by the district court and the country's Supreme Court when it tried to block the account activity of a local cryptocurrency exchange. This is undoubtedly a major victory for the local cryptocurrency instry
in addition, it has recently been reported that the Central Bank of Israel has been considering the possibility of issuing state supported cryptocurrency for several months. According to the Jerusalem Post, an anonymous source said, "digital shekel can record every transaction through mobile phones, making tax evasion more difficult." If a digital Shekel is introced, its value will be equal to that of an entity
in terms of technological innovation, Israel's start-up corporate culture is at the forefront. Roy meirom, co-founder and vice president of business development of wemark, pointed out that many of the 300 multinational R & D centers operating in Israel are committed to the application of blockchain<
Roy meirom also said that this small middle east country, commonly known as the "start-up country", is rapidly becoming the development center of blockchain< Bermuda
Bermuda, a member of the Commonwealth in the North Atlantic and Caribbean, has been actively seeking the adoption of cryptocurrency related regulations to begin to establish an appropriate framework to promote cryptocurrency business activities, including cryptocurrency exchanges, wallet services and payment providers. Recently, the Bermuda Monetary Authority's virtual currency business act was passed in the house of Commons
Bermuda has carried out relevant legislative activities on ICO in the form of amending the Companies Act 1981 and the limited liability companies act 2016. At the end of last year, Bermuda's prime minister and Finance Minister David Burt set up a blockchain working group, which is divided into two groups: the legal and regulatory Working Group on blockchain and the commercial working group on blockchain
7. Berlin, the capital of Germany, is perhaps one of the EU's most cryptocurrency friendly cities. In 2013, Berlin was called the "bitcoin capital of Europe" by the guardian, and it has always maintained this status. At present, people can use bitcoin to buy apartments in Berlin, make holiday reservations, and pay for meals in various fashionable local restaurants
Thomas Schouten, marketing director of lisk, a Swiss based blockchain application platform, said the application chain has a major contractor office in Berlin. Schouten said Berlin provides a vibrant start-up and technology space with a huge talent pool and vibrant culture, making it easy for companies to attract employees. In addition, he said that Germany and the German government are open to blockchain technology
in 2014, Germany became the first country to accept bitcoin as a currency, highlighting its open attitude. Similarly, board members of the Bundesbank have called for effective and appropriate regulation of cryptocurrencies and tokens. In fact, Joachim wuermeling, director of the Bundesbank, has pointed out the need for international cooperation on this issue:
to this end, a number of decision makers of the Bundesbank have participated in discussions involving the whole EU region, including stimulating the cryptocurrency instry in the whole EU region through the European block chain partnership "Scientists and engineers in the instry, many of them retired members of Israel's elite military intelligence forces, have transferred to fill the huge talent demand of the instry, and are supported by more and more blockchain start-ups and supporting ecosystems." -
"because the regulatory capacity of a single country is obviously limited, only by maximizing the potential of international cooperation can virtual currency be effectively regulated."
as early as 2003, UNESCO clearly put forward in the Charter for the preservation of digital heritage that digital heritage is the unique knowledge and expression of human beings, which includes culture, ecation, science, management information and technology, law, medicine and other information existing in digital form, or converted from the existing similar mode into digital form
it is generally believed that digital heritage can be divided into material and spiritual categories. Material digital heritage refers to directly linked to property, such as Alipay balance, bitcoin and other virtual currencies. The spiritual ones are social accounts, personal files, etc., which are virtual properties formed by users who spend a lot of time and energy. They are not only the spiritual home of users' daily life, but also the spiritual comfort of relatives through inheritance< According to Article 127 of the general provisions of the civil law, "if there are laws on the protection of data and network virtual property, such provisions shall prevail."
in this regard, Chen Kai believes that the general provisions of the civil law have made principled provisions for the protection of virtual property“ When the definition and scope of virtual property have not been fully determined, it may be more appropriate to make provisions in principle. "<
after consulting relevant laws and regulations, the reporter found that the property law, inheritance law and relevant instructions only regulate the tangible property, and the inheritance of intangible property that may be involved in digital heritage can not be found<
Liu Junhai, director of the Institute of commercial law of Renmin University of China, pointed out that at present, China only takes a relatively conservative attitude towards this, affirming that data should be protected by law, but not affirming the independent civil rights to data“ China's current inheritance law only provides for the inheritance of physical property, but does not provide for the inheritance of virtual property on the Internet. As a result, it is difficult to realize the inheritance of digital heritage in essence, which needs to be revised in the future. "
e to the lack of clear legal provisions, at present, the treatment of digital heritage is mainly determined by Internet platform operators. This also lays a hidden danger for disputes
some scholars have proposed that e to the multiple attributes of communication and social accounts, such as personal privacy, user property and personality, the discussion of inheritance behind them needs to be more carefully grasped< Chen Kai pointed out to the reporter that at present, the virtual property written into the will as a legacy has some problems, such as difficult to confirm the ownership, difficult to find and difficult to transfer“ Because the virtual property is scattered in the servers of various operators, and some virtual properties, such as QQ space, are relatively private. "
it is understood that at present, the platform mainly has two ways to deal with the user's Digital Heritage: first, the user only has the right to use the account, while the network service provider has the ownership. At this time, the account cannot be inherited, and the network service provider can choose to close, delete or cancel the user's account; The second is that the user has the ownership, and the digital heritage can be inherited. At this time, the inheritance of digital heritage needs to provide a series of proof materials
in most cases, Internet companies stipulate that the ownership and use right of user accounts are separated. For example, Sina Weibo, Tencent QQ and other user service use agreements stipulate that if the user does not actually use the service within a period of time after applying for the service, the operator has the right to choose to recycle the user's nickname, account number or stop the service within the scope permitted by laws and regulations<
Liu Junhai believes that there are two aspects to deal with digital heritage: first, the platform should plan the rules of Digital Heritage Inheritance in detail, and make clear the process of inheritors inheriting digital heritage. When a successor appears, the platform has the obligation to assist the successor to inherit the digital heritage according to law. When dealing with digital heritage, the platform should fulfill the obligations of notice, disclosure, assistance and confidentiality, which are also the basic legal requirements to be followed when dealing with digital heritage. Secondly, in terms of legislation, it is suggested that the legislature should take the issue of digital heritage into consideration when amending relevant laws.
bitcoin and other virtual currencies are open source programs, and the parameters and methods of their total amount limit are displayed in the open source code, so as to show the operation mechanism of the currency system openly and transparently. However, Vicat does not disclose its source code, which in itself violates the basic principles of virtual currency. In addition, bitcoin and other virtual currencies are scattered transactions spontaneously formed in the market, and after the scale is formed, the third party graally establishes an exchange to complete the transaction. The Vicat is issued by itself and traded on its own platform. The so-called cooperation with the bank is nothing. Vicat currency, which has problems in basic properties, has high investment risk, so investors need to be cautious
if you are interested in cryptocurrency, it is recommended to play with mainstream cryptocurrency, such as bitcoin, Laite coin, Fuyuan coin and dogcoin.
bitcoin and other virtual currencies are open source programs, and the parameters and methods of their total amount limit are displayed in the open source code, so as to show the operation mechanism of the currency system openly and transparently. However, Vicat does not disclose its source code, which in itself violates the basic principles of virtual currency. " In addition, bitcoin and other virtual currencies are scattered transactions spontaneously formed in the market, and after the scale is formed, the third party graally establishes an exchange to complete the transaction. The Vicat is issued by itself and traded on its own platform. The so-called cooperation with the bank is nothing. Vicat currency, which has problems in basic properties, has high investment risk, so investors need to be cautious Netease News)
in the coin circle, bitcoin home and many mass media have also exposed the pyramid scheme of Vicat under the guise of bitcoin
economists point out that Vicat is a virtual currency with the nature of multi-level pyramid selling, and its investment risk is extremely high, so participants should be cautious
please accept if you are satisfied. thank you
Recently, German Finance Minister Peter altemir and French finance minister Bruno lemer jointly held a press conference in Paris, saying that they will jointly promote the global supervision of the bitcoin at the G20 summit in Argentina this year, which will warn that the world's most popular cryptocurrency is being used by illegal groups
the regulation of bitcoin is likely to become a new topic of the G20 summit this year. Lemer has repeatedly said that he will propose to discuss the issue of bitcoin at the G20 summit. As for speculative risk, member countries need to discuss the regulation of bitcoin management together. US Treasury Secretary mu nuqin also said recently that he will work with the G20 to prevent cryptocurrencies such as bitcoin from becoming the digital equivalent of anonymous Swiss bank accounts
Experts suggest that the G20 and some international financial institutions should speed up the formulation of relevant principles and guidelines to provide cases and follow-up for countries to establish coordinated regulatory policies. At the same time, we should achieve global coordination in supervision to jointly crack down on illegal cryptocurrency transactions and crimessimilar to bitcoin, Vicat was pre launched globally at the end of August 2014. Entered the Chinese market at the end of September 2014
1. Development history
similar to bitcoin, Vicat was pre launched globally at the end of August 2014 and entered the Chinese market at the end of September 2014. Onecoin is the second generation of cryptocurrency after bitcoin. It combines the concepts of innovation and profitability, security and integrity on the basis of bitcoin<
2. Generation principle
the essence of Vicat is a special solution generated by a bunch of complex algorithms. A special solution is one of the infinite solutions of a system of equations. Every particular solution can solve the equation and is unique. In the metaphor of RMB, Vicat is the serial number of RMB. If you know the serial number of a note, you have the note. To mine Vicat, you can download the special Vicat calculation tool, register various cooperation websites, fill the registered user name and password into the calculation program, and then click the operation to officially start. After completing the installation of Vicat mining software, you can directly obtain a Vicat address. When others pay, you only need to paste the address to others, and you can pay through the same client [1]
3. Monetary characteristics
Vicat is not just a cryptocurrency. In order to make it successful and unique, Vicat has created a whole concept and system, so that Vicat can become a leader in the field of cryptocurrency
Vicat Hong Kong Branch will be officially established in the near future, with its address in Tsim Sha Tsui, Kowloon, Hong Kong. It is another major office after Europe and Du< Professor ruja ignatova, born in Sofia, has a master's degree in economics from the capital of Bulgaria, the University of Constance, and a double doctor's degree in law from Oxford University and the University of Constance. He is the CEO and CFO of McKinsey's strategic partner, one of Bulgaria's largest fund management companies. He once managed as much as 250 million euros, He has participated in many projects of detec investment (one of the largest private equity funds in the world), many projects of Frankfurt bank in Germany, and established Russian investment banking business. He is a strategic partner of Datai capital (private equity fund in Eastern Europe), with a capital of 150 million euro. Later, he was acquired by VTB capital in Russia, and established a 75 million euro Global Wealth Investment Fund (owned by BVI company), We have cooperated with Divus Ag and acquired nordkap Ag bank in Switzerland. We are the executive director and one of the founders of Vicat limited, the consultant of many cryptocurrency companies such as bitcoin and lightcoin
chairman Martin bredenbach, proficient in enterprise law, contract law, commercial law and tax law! We have cooperated with many cryptocurrency companies, such as bitcoin, lightcoin, etc. we are the executive director and one of the founders of Vicat Co., Ltd
Professor Ruya ignatova holds double doctorates in the law departments of Oxford University and the University of Constance. In his early years, he served as CEO and CFO of McKinsey's strategic partner, one of Bulgaria's largest fund management companies. He managed as much as 250 million euros, participated in many projects of DTI (one of the world's largest private equity funds), participated in many projects of Frankfurt Bank of Germany, and established Russian investment banking business, Datai capital (a private equity fund in Eastern Europe) is a strategic partner with a capital of 150 million euro. Later, it was acquired by VTB capital in Russia, and established a 75 million euro Global Wealth Investment Fund (owned by BVI company). It cooperated with Divus Ag and acquired nordkap Ag bank in Switzerland, as well as consultants of several cryptocurrency companies, such as bitcoin and leycoin, Executive director and founder of onecoin Vicat limited
under her leadership, Vicat not only inherits the characteristics of bitcoin decentralization, but also the stock is determined by algorithm. For institutional investors, Vicat is more strict in anonymity, borderless, not easy to crack and additional issuance. Based on the above principles, as long as the Vicat currency maintains proper liquidity, its own scarcity ensures the overall stable and upward price trend of the currency without the influx of a large number of hot money. In addition, with the overall economic downturn in Europe and the United States, gold prices continue to fluctuate. Stable virtual currency has become the main choice of a large number of institutional investors.
blockchain technology hotspots all over the world think that it is a subversive innovation of computing mode following the mainframe, personal computer and Internet; It is also seen as a monster, requiring strict regulation and even prohibition. Many people can't help asking: does the new trust mechanism of block link need to trust another old legal mechanism to supplement it
the vigorous development of the block chain behind is really a mixture of good and bad. For this reason, how to stop the chain, so that this new technology can be used in the legal framework of the people, the correct understanding of the benefit of the people is an urgent important topic. Recently, Lin Shaowei, associate professor and director of the Institute of artificial intelligence of Southwest University, will appear in Shanghai to study and read, "the theme of artificial intelligence in May is" the second activity. The relationship between block and chain is what the website tells readers
as a "chain to law": is block chain trustworthy“ Lin Shaowei, the translator of this book, believes that if the law does not have effective intervention measures, it may become "lawless elements" in another chain, so it can not prevent "lawlessness" in the legal chain. Based on the introction of the book published by Shanghai People's publishing house, the well-designed legal vacuum has a negative impact on the block chain. Kevin woba, a professor at the Wharton School of business at the University of Pennsylvania, explores new ideas for the future development of blockchain.
it is recorded on the bill that the drawer is a, the amount recorded on the bill is RMB 1 million, the payee is B, and F is the entrusted payer of a, but f has not accepted it. B indorses the bill to C, and then C indorses the bill to D.
excuse me:
1. If D indorses the bill to a, can a exercise the right of recourse like D? What is the reason
2. If C fully satisfies the right of recourse exercised by D, what kind of bill rights will c obtain according to the bill law? What is the scope of compensation C can claim from it
3. According to the bill law of the people's Republic of China, how can d determine the object of exercising its right of recourse
4. In this case, what is the legal status of F in the legal relationship of the bill? Give reasons< No, Article 69 of the bill law stipulates that if the holder is the drawer, he has no recourse against his prior parties. In this case, a is the drawer, who has no right of recourse against his forehand B, C and D< 2. The scope of C's right of recourse to its prior parties includes: (1) the amount of the bill, (2) the interest calculated on the basis of the working capital loan from the e date or the date of presentment for payment to the date of repayment, (3) the cost of obtaining the relevant proof of refusal and Issuing the notice
3. According to Article 68 of the bill law, D may, according to his own will, arbitrarily choose any one or more of his forehands a, B, C as the object of recourse
4. F is only the nominal payer of the bill, because it does not accept the bill, it has nothing to do with the bill and does not need to bear any responsibility on the bill.
however, the proliferation of virtual currency in China has attracted the attention of the authorities. Virtual currency can be cashed in the game, and can also be used as a token for online transactions, threatening the legal status of RMB. Recently, some experts called for strict control.