The influence of virtual currency ico
Publish: 2021-05-14 02:08:55
1. If you think about it, the amount of transactions in the game will always exceed 100 million yuan, and the amount of transactions in some games will be tens of thousands of yuan. The amount of virtual currency transactions in a rich day will reach 10 million yuan. From the perspective of Taxation, the tax revenue of a single game is no less than 100000 yuan a day
2. ICO is very similar to IPO in form and final result
IPO is the initial public offering of a company. After IPO, the company can go to the securities exchange market for listing. Of course, there are various regulatory enforcement before and after the IPO, and the whole process is completed in reality
the difference of ICO is that the public offering party can be an indivial, a company, a community, or an institution. After the offering, it is listed and traded on the online virtual currency trading platform, such as smart star Witkey, XX eight, XX one proct, etc. the whole process is completed on the Internet
virtual currencies, such as bitcoin and Ethereum, have become fixed currency in circulation on the Internet, such as the US dollar in the real world. Most of the ICO process is not the project party selling its own equity, it should be said that it is the right to use, that is, the expected qualification of the future value of the proct
resources ICO internet post bar
IPO is the initial public offering of a company. After IPO, the company can go to the securities exchange market for listing. Of course, there are various regulatory enforcement before and after the IPO, and the whole process is completed in reality
the difference of ICO is that the public offering party can be an indivial, a company, a community, or an institution. After the offering, it is listed and traded on the online virtual currency trading platform, such as smart star Witkey, XX eight, XX one proct, etc. the whole process is completed on the Internet
virtual currencies, such as bitcoin and Ethereum, have become fixed currency in circulation on the Internet, such as the US dollar in the real world. Most of the ICO process is not the project party selling its own equity, it should be said that it is the right to use, that is, the expected qualification of the future value of the proct
resources ICO internet post bar
3. What is virtual currency? Virtual currency refers to non real currency. Due to the development of Internet society, it was born. Network virtual currency can be roughly divided into:
the first category is familiar game currency
since the Internet has established a portal and community to realize the game networking, there has been a "financial market" for virtual currency, where players can trade game currency
the second type is the special currency issued by the portal website or instant messaging service provider, which is used to purchase the services in the website. The most widely used is Tencent's q-coin, which can be used to purchase membership, QQ show and other value-added services
the third kind of virtual currency on the Internet, such as bitcoin (BTC), Wright currency (LTC), etc. It is mainly used for Internet financial investment, and can also be directly used in daily life as a new currency
from the above classification, we can see that the impact of different types of virtual currency on our economic life is divided into fields and groups. Mainly in the field of Internet game crowd and network service users are most affected
the functions derived from bitcoin and directly used in daily life have been declared illegal by the state financial regulatory authorities. The impact on people's lives is invisible.
the first category is familiar game currency
since the Internet has established a portal and community to realize the game networking, there has been a "financial market" for virtual currency, where players can trade game currency
the second type is the special currency issued by the portal website or instant messaging service provider, which is used to purchase the services in the website. The most widely used is Tencent's q-coin, which can be used to purchase membership, QQ show and other value-added services
the third kind of virtual currency on the Internet, such as bitcoin (BTC), Wright currency (LTC), etc. It is mainly used for Internet financial investment, and can also be directly used in daily life as a new currency
from the above classification, we can see that the impact of different types of virtual currency on our economic life is divided into fields and groups. Mainly in the field of Internet game crowd and network service users are most affected
the functions derived from bitcoin and directly used in daily life have been declared illegal by the state financial regulatory authorities. The impact on people's lives is invisible.
4.
the impact of virtual currency on e-commerce is as follows:
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the impact of virtual currency on the financial system
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the network security of virtual currency
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inflation in the virtual world
5. Virtual currency is a kind of high-risk and high-yield investment and wealth management procts. There is no most profitable project, only the project that makes no loss. That is pyramid selling. At present, virtual currencies with investment value include bitcoin, Laite coin, Fuyuan coin, doggy coin, Ruibo coin and so on. Bitcoin is the originator of digital cryptocurrency, with the highest market value, attention and popularity. Moreover, bitcoin related companies have obtained billions of dollars in financing, and also have a certain share in the payment field; Lightcoin is the ancestor of Shanzhai coin and an unsuccessful test of bitcoin, but its popularity is second only to bitcoin; Fuyuan coin is the main application, and its future application scenario is the business points of jewelry business, which is the best of the three kinds of token, supported by large jewelry groups; Dog coin is a kind of counterfeit coin that is well done in marketing. It has a certain competitiveness in the small reward and charity donation market; Reborn took the route of cooperation with the government and traditional financial institutions, and obtained more than US $30 million in financing.
6. The so-called ICO, also known as the initial public offering of coins, takes bitcoin as the raising object. The project leader issues encrypted tokens to unspecified investors to finance the project. With the growth of beauty, social networking, Baijiu, athletics and other "wonderful" ICO projects, the bitcoin, represented by virtual currency, is also soaring. In April this year, bitcoin started to rise all the way from 6000 yuan. In August alone, bitcoin has set a new high price nine times, rising to 30299.99 yuan<
blockchain has existed as early as ten years ago
fundamentally speaking, the popularity of ICO cannot be separated from the support of bitcoin and other virtual currencies. In the case of "90% of ICO projects are unreliable", no matter what the ICO market is, even bitcoin and other virtual currencies, which are the objects of fund-raising, have been criticized for a long time
blockchain has existed as early as ten years ago
fundamentally speaking, the popularity of ICO cannot be separated from the support of bitcoin and other virtual currencies. In the case of "90% of ICO projects are unreliable", no matter what the ICO market is, even bitcoin and other virtual currencies, which are the objects of fund-raising, have been criticized for a long time
7. On August 28, an insider of China Securities Regulatory Commission confirmed to reporters that the recent hot ICO has attracted the attention of the regulatory authorities and is currently preparing various materials“ At present, ICO has great risks. In the long run, it will definitely be included in the regulation. "
according to Caixin, the relevant regulatory authorities will take action against ICO. Whether to ban the program is under discussion, the central bank, the CSRC are involved. The legal basis for this action comes from the measures for banning illegal financial institutions and illegal financial business activities promulgated in 1998
the reporter learned from a person in the instry that many departments including the financial market department of the central bank have stepped up their research on ICO, but there are still some related problems to be solved
according to a number of instry insiders, on August 18, the central bank, China Securities Regulatory Commission and China Banking Regulatory Commission organized a special ICO forum, which was interpreted as a "landmark event" in the instry, and it was only a matter of time before it was brought into regulation< On July 25 this year, the securities and Exchange Commission (SEC) issued a report on the Dao, which determined that its token was securities. At the same time, it emphasized that any act of buying or selling securities in the United States, whether it was real currency purchase or token distributed with blockchain technology, must comply with the securities law of the United States
according to the definition of financial market division on the official website of the central bank, its main responsibilities include drawing up the development plan of financial market, coordinating the development of financial market, and promoting the innovation of financial procts; In addition, the Bureau of currency, gold and silver is responsible for drafting the relevant measures for currency issuance and gold management, organizing the implementation and undertaking the work of RMB management and anti-counterfeiting currency< According to the regulatory practice of the US Securities Regulatory Commission, ICO is defined as a securities issue. Therefore, if China draws lessons from it, it should also be supervised by the CSRC. However, in China, the digital currency is supervised by the central bank. Therefore, it is the central bank and the CSRC that jointly study and decide who will supervise the digital currency< Since the first half of this year, the number of domestic ICO projects funded by virtual currency has increased explosively, which has aroused controversy over whether ICO is illegal in raising funds
according to the report released by the national Internet financial security technology expert committee, since 2017, the cumulative financing scale of ICO projects completed through various platforms has reached 63523.64btc, 852753.36eth and some RMB and other virtual currencies. Based on the zero point price on July 19, 2017, it is equivalent to RMB 2.616 billion in total. The total number of participants reached 105000
on August 24, the CBRC made regulations on virtual currency financing for the first time. The CBRC drafted the "Regulations on the disposal of illegal fund raising (Draft for comments)" (hereinafter referred to as the draft for comments) and pointed out that the illegal fund raising administrative investigation should be carried out in the name of virtual currency without legal permission or in violation of the relevant provisions of the state. The participants of illegal fund-raising shall bear the losses caused by their participation in illegal fund-raising
it is reported that Huo Xuewen, director of the Beijing Municipal Bureau of financial work, once pointed out at a closed door meeting that all activities of "managing other people's money" should be included in the supervision
Wu Xiaoling, deputy director of Finance and Economics Committee of the Standing Committee of the National People's Congress and chairman and President of Wukou School of finance of Tsinghua University, also publicly pointed out a few days ago that internationally, ICO has been regulated as a kind of securities in the United States. The people's Bank of China has also made a corresponding statement to bitcoin (pointing out that bitcoin does not have monetary attributes), and further regulatory measures are expected
a blockchain practitioner said that "blocking is better than sparing". Supervision is expected, but if it is totally negated, some enterprises will inevitably move ICO abroad<
4 ask ICO
1. Should ICO be included in the regulation
Tang Ling, CEO of Zhigui technology and general initiator of ink chain, told reporters that ICO should be included in the regulation. Under the demonstration of wealth effect, there are too many "pyramid selling currency" and "air currency" at present. Many projects can be financed before they are determined. Investors are crazy about speculating in currency, and the risk is great
Xiao SA, director of China Science and Technology Finance Law Research Association, believes that the national financial work conference emphasizes the need to strengthen the "professionalism, unity and penetration" of financial supervision, and all financial businesses should be included in the supervision. ICO should also be regulated. Financial innovation has vitality only when it is in accordance with the law, and any violation and abuse will be counterproctive
Li Lin said that since there is no supervision on the use of funds after ICO financing, the whereabouts of funds after ICO financing have become a mystery. He suggested that regulators should pay attention to the appropriateness of investors
2. How should ICO be supervised
Tian Ying, vice president of okcoin, believes that the first step in the supervision of ICO is to clarify the legal nature. The registration management of ICO's enterprises and the open and transparent trusteeship management of ICO's tokens should be carried out. The project sponsor, token circulation platform and the third-party propaganda organization should strengthen the inspection of the authenticity of the project, increase the risk ecation of investors, and effectively control the risk. These regulatory measures can be implemented after qualitative analysis. There are also many legal experts who suggest to refer to the financial technology sandbox regulatory system implemented in the UK and Singapore to minimize the contradiction between innovation and risk
for how to supervise, Tang Ling suggests setting up project audit and e diligence. At present, the ICO project is "self-examination and self passing meeting". Although the agent investment platform will also audit, it has not been put on record. At the same time, we should set up the fund trusteeship. In the early stage, some media exposed that indivial platforms used capital precipitation to buy financial procts, which was caused by the lack of fund custody, and it was easy for the platform to roll up money and run away. In addition, standardized management, the funds should not be allocated at one time. Many entrepreneurs haven't seen so much money and don't know how to spend it. It's easy to have problems
Xiao SA believes that the specific regulatory focus is: proct registration, information disclosure, asset custody, project authenticity and qualified investment
"proct registration is an effective way for regulators to understand and monitor high-risk financial business; Information disclosure is a routine scheme, which can make the project more transparent; Asset custody to prevent stakeholder cases; Project authenticity is the minimum requirement for ICO issuers; Qualified investment, matching the risk and investors, restricting speculative funds. " Xiao SA said
3. What are the difficulties of ICO supervision
Tang Ling said that the regulatory difficulty lies in that many platforms can now achieve ICO through smart contracts, especially through Ethereum projects, which can be raised by themselves without going through the platform. There are many private placements with high risks
Tian Ying believes that identifying the nature of ICO is a difficulty in promoting supervision. ICO is a bit like crowdfunding, but it is not exactly the same as crowdfunding. A while ago, the SEC of the United States announced the results of the investigation on the Dao token, believing that the token has the scope of securities and is under the supervision of the securities and Futures Law. This judgment is also the result of a lot of research and analysis by US regulators. Some non security tokens may expect the right to use certain procts, which does not belong to the category of securities
she believes that ICO is an Internet proct, and some ICO projects are operated globally. In the process of management, international coordination needs to be strengthened. What's more, how far should supervision go
Xiao SA said that there are differences in the instry on the nature of ICO. If we define the essence of ICO as "barter" and exchange one special virtual currency for another, it can be explained
if the ICO project directly raises "legal currency", including RMB, US dollar, euro, etc., it can be understood as "deposit" of illegally absorbing public deposits. Once it meets the requirements of article 176 of the criminal law on the crime of illegally absorbing public deposits, it may constitute a crime
Xiao SA believes that if the ICO project has a dividend clause, it has an equity mark; if the project has a repurchase clause, it is suspected of "capital preservation and interest preservation". It is similar to a financial proct, and it is actually an illegal operation to issue a financial proct without a license. In judicial practice, if illegal business is difficult to define, then the above behavior is likely to be identified as pyramid selling. Many ICO projects in the promotion process, there are promotional incentives, such as "pull an investor back token."
4. The impact of regulation on ICO
Xia Hu, CEO of Weiyou Yuanjie, told the Beijing news that regulators should regulate the development of ICO, especially the establishment of "qualified investor system", because many ordinary investors do not have the ability to bear high risks and should not participate in such high-risk projects. If there is no qualified investor system, it is easy to cause social problems
as for the regulatory impact, Tian Ying said that in the short term, it will have an impact on the current market, and in the long term, it will be concive to the sustainable and healthy development of the entire digital asset instry, so as to truly make the market healthy first and then efficient. On the other hand, supervision will also enable high-quality projects to present their value
according to a research report of Huachuang securities, the innovation trend of ICO is worthy of attention. In the long run, with its growing influence, it is necessary to accept supervision to promote the healthy and orderly development of the instry. ICO platforms or projects with strong strength are expected to take the lead in embracing regulation, balancing innovation attributes and potential risks, and become the beneficiaries of ICO's future development.
according to Caixin, the relevant regulatory authorities will take action against ICO. Whether to ban the program is under discussion, the central bank, the CSRC are involved. The legal basis for this action comes from the measures for banning illegal financial institutions and illegal financial business activities promulgated in 1998
the reporter learned from a person in the instry that many departments including the financial market department of the central bank have stepped up their research on ICO, but there are still some related problems to be solved
according to a number of instry insiders, on August 18, the central bank, China Securities Regulatory Commission and China Banking Regulatory Commission organized a special ICO forum, which was interpreted as a "landmark event" in the instry, and it was only a matter of time before it was brought into regulation< On July 25 this year, the securities and Exchange Commission (SEC) issued a report on the Dao, which determined that its token was securities. At the same time, it emphasized that any act of buying or selling securities in the United States, whether it was real currency purchase or token distributed with blockchain technology, must comply with the securities law of the United States
according to the definition of financial market division on the official website of the central bank, its main responsibilities include drawing up the development plan of financial market, coordinating the development of financial market, and promoting the innovation of financial procts; In addition, the Bureau of currency, gold and silver is responsible for drafting the relevant measures for currency issuance and gold management, organizing the implementation and undertaking the work of RMB management and anti-counterfeiting currency< According to the regulatory practice of the US Securities Regulatory Commission, ICO is defined as a securities issue. Therefore, if China draws lessons from it, it should also be supervised by the CSRC. However, in China, the digital currency is supervised by the central bank. Therefore, it is the central bank and the CSRC that jointly study and decide who will supervise the digital currency< Since the first half of this year, the number of domestic ICO projects funded by virtual currency has increased explosively, which has aroused controversy over whether ICO is illegal in raising funds
according to the report released by the national Internet financial security technology expert committee, since 2017, the cumulative financing scale of ICO projects completed through various platforms has reached 63523.64btc, 852753.36eth and some RMB and other virtual currencies. Based on the zero point price on July 19, 2017, it is equivalent to RMB 2.616 billion in total. The total number of participants reached 105000
on August 24, the CBRC made regulations on virtual currency financing for the first time. The CBRC drafted the "Regulations on the disposal of illegal fund raising (Draft for comments)" (hereinafter referred to as the draft for comments) and pointed out that the illegal fund raising administrative investigation should be carried out in the name of virtual currency without legal permission or in violation of the relevant provisions of the state. The participants of illegal fund-raising shall bear the losses caused by their participation in illegal fund-raising
it is reported that Huo Xuewen, director of the Beijing Municipal Bureau of financial work, once pointed out at a closed door meeting that all activities of "managing other people's money" should be included in the supervision
Wu Xiaoling, deputy director of Finance and Economics Committee of the Standing Committee of the National People's Congress and chairman and President of Wukou School of finance of Tsinghua University, also publicly pointed out a few days ago that internationally, ICO has been regulated as a kind of securities in the United States. The people's Bank of China has also made a corresponding statement to bitcoin (pointing out that bitcoin does not have monetary attributes), and further regulatory measures are expected
a blockchain practitioner said that "blocking is better than sparing". Supervision is expected, but if it is totally negated, some enterprises will inevitably move ICO abroad<
4 ask ICO
1. Should ICO be included in the regulation
Tang Ling, CEO of Zhigui technology and general initiator of ink chain, told reporters that ICO should be included in the regulation. Under the demonstration of wealth effect, there are too many "pyramid selling currency" and "air currency" at present. Many projects can be financed before they are determined. Investors are crazy about speculating in currency, and the risk is great
Xiao SA, director of China Science and Technology Finance Law Research Association, believes that the national financial work conference emphasizes the need to strengthen the "professionalism, unity and penetration" of financial supervision, and all financial businesses should be included in the supervision. ICO should also be regulated. Financial innovation has vitality only when it is in accordance with the law, and any violation and abuse will be counterproctive
Li Lin said that since there is no supervision on the use of funds after ICO financing, the whereabouts of funds after ICO financing have become a mystery. He suggested that regulators should pay attention to the appropriateness of investors
2. How should ICO be supervised
Tian Ying, vice president of okcoin, believes that the first step in the supervision of ICO is to clarify the legal nature. The registration management of ICO's enterprises and the open and transparent trusteeship management of ICO's tokens should be carried out. The project sponsor, token circulation platform and the third-party propaganda organization should strengthen the inspection of the authenticity of the project, increase the risk ecation of investors, and effectively control the risk. These regulatory measures can be implemented after qualitative analysis. There are also many legal experts who suggest to refer to the financial technology sandbox regulatory system implemented in the UK and Singapore to minimize the contradiction between innovation and risk
for how to supervise, Tang Ling suggests setting up project audit and e diligence. At present, the ICO project is "self-examination and self passing meeting". Although the agent investment platform will also audit, it has not been put on record. At the same time, we should set up the fund trusteeship. In the early stage, some media exposed that indivial platforms used capital precipitation to buy financial procts, which was caused by the lack of fund custody, and it was easy for the platform to roll up money and run away. In addition, standardized management, the funds should not be allocated at one time. Many entrepreneurs haven't seen so much money and don't know how to spend it. It's easy to have problems
Xiao SA believes that the specific regulatory focus is: proct registration, information disclosure, asset custody, project authenticity and qualified investment
"proct registration is an effective way for regulators to understand and monitor high-risk financial business; Information disclosure is a routine scheme, which can make the project more transparent; Asset custody to prevent stakeholder cases; Project authenticity is the minimum requirement for ICO issuers; Qualified investment, matching the risk and investors, restricting speculative funds. " Xiao SA said
3. What are the difficulties of ICO supervision
Tang Ling said that the regulatory difficulty lies in that many platforms can now achieve ICO through smart contracts, especially through Ethereum projects, which can be raised by themselves without going through the platform. There are many private placements with high risks
Tian Ying believes that identifying the nature of ICO is a difficulty in promoting supervision. ICO is a bit like crowdfunding, but it is not exactly the same as crowdfunding. A while ago, the SEC of the United States announced the results of the investigation on the Dao token, believing that the token has the scope of securities and is under the supervision of the securities and Futures Law. This judgment is also the result of a lot of research and analysis by US regulators. Some non security tokens may expect the right to use certain procts, which does not belong to the category of securities
she believes that ICO is an Internet proct, and some ICO projects are operated globally. In the process of management, international coordination needs to be strengthened. What's more, how far should supervision go
Xiao SA said that there are differences in the instry on the nature of ICO. If we define the essence of ICO as "barter" and exchange one special virtual currency for another, it can be explained
if the ICO project directly raises "legal currency", including RMB, US dollar, euro, etc., it can be understood as "deposit" of illegally absorbing public deposits. Once it meets the requirements of article 176 of the criminal law on the crime of illegally absorbing public deposits, it may constitute a crime
Xiao SA believes that if the ICO project has a dividend clause, it has an equity mark; if the project has a repurchase clause, it is suspected of "capital preservation and interest preservation". It is similar to a financial proct, and it is actually an illegal operation to issue a financial proct without a license. In judicial practice, if illegal business is difficult to define, then the above behavior is likely to be identified as pyramid selling. Many ICO projects in the promotion process, there are promotional incentives, such as "pull an investor back token."
4. The impact of regulation on ICO
Xia Hu, CEO of Weiyou Yuanjie, told the Beijing news that regulators should regulate the development of ICO, especially the establishment of "qualified investor system", because many ordinary investors do not have the ability to bear high risks and should not participate in such high-risk projects. If there is no qualified investor system, it is easy to cause social problems
as for the regulatory impact, Tian Ying said that in the short term, it will have an impact on the current market, and in the long term, it will be concive to the sustainable and healthy development of the entire digital asset instry, so as to truly make the market healthy first and then efficient. On the other hand, supervision will also enable high-quality projects to present their value
according to a research report of Huachuang securities, the innovation trend of ICO is worthy of attention. In the long run, with its growing influence, it is necessary to accept supervision to promote the healthy and orderly development of the instry. ICO platforms or projects with strong strength are expected to take the lead in embracing regulation, balancing innovation attributes and potential risks, and become the beneficiaries of ICO's future development.
8. Shanghai radium Flash Technology Network Co., Ltd. is a real company with more currencies in its wallet. Including radar coin, bitcoin, lightcoin, etc. And the radar coin has interest. Every day the coins are accumulating.
9.
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