Regulations of the Energy Bureau on the exploitation of virtual
On June 28, 2009, the Ministry of culture and the Ministry of Commerce jointly issued the "notice on strengthening the management of virtual currency in online games", which made it clear that virtual currency is expressed in the form of prepaid recharge card, prepaid amount or points of online games, but does not include game props obtained in game activities; Virtual currency shall not be used to pay for, purchase physical procts or exchange for any procts and services of other enterprises< The following is the full text of the Circular of the Ministry of culture and the Ministry of Commerce:
the Circular of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games
the cultural departments (bureaus) and commercial departments (bureaus) of all provinces, autonomous regions and municipalities directly under the central government, the Cultural Bureau and commercial bureau of Xinjiang proction and Construction Corps, Beijing, Tianjin, Shanghai and Chongqing Ningxia Hui Autonomous Region Cultural market administrative law enforcement corps:
with the rapid development of online games, online game virtual currency is widely used in online game business services. The virtual currency of online games not only promotes the development of online game instry, but also brings new economic and social problems. Mainly reflected in: first, the lack of protection of user rights and interests; Second, market behavior lacks supervision; Third, the online game virtual currency in the use of disputes
in order to standardize the operation order of online game market, according to the spirit of Interim Provisions on Internet culture management, notice on Further Strengthening the management of Internet cafes and online games (Wen Shi Fa [2007] No. 10) and notice on standardizing the operation order of online games and banning the use of online game gambling (Gong Tong Zi [2007] No. 3), etc, With the consent of the people's Bank of China and other departments, the notice on strengthening the management of virtual currency of online games is as follows
but not all virtual currencies are illegal, and many of them are excellent, such as bitcoin, Ruitai coin, Laite coin and other mainstream digital cryptocurrencies.
There is no law in China to ban bitcoin, so it is not illegal to mine and earn bitcoin
it is not illegal to buy bitcoin in China. In 2013, five ministries and commissions jointly issued the bitcoin risk notice, which states that although bitcoin does not belong to legal tender and is not legally compulsory, people can freely participate in bitcoin trading activities when they voluntarily undertake risks
"notice" clearly defines the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and mandatory, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market
however, as a kind of commodity trading on the Internet, ordinary people have the freedom to participate in bitcoin trading at their own risk
the notice requires that at this stage, financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin in the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
in order to avoid over hype of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
source of reference: People's website bitcoin network virtual currency
notice of the people's Bank of China, Ministry of instry and information technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on bitcoin risk prevention
notice on bitcoin risk prevention
recently, A kind of so-called "bitcoin" calculated by a specific computer program has attracted wide attention in the world, and some domestic institutions and indivials take the opportunity to hype bitcoin and its related procts. In order to 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, in accordance with the law of the people's Republic of China on the people's Bank of China, the anti money laundering law of the people's Republic of China, the commercial bank law of the people's Republic of China, the telecommunication regulations of the people's Republic of China and other relevant laws and regulations, We hereby inform you of the following matters:
first, we should have a correct understanding of the attributes of bitcoin. Although bitcoin is called "currency", it is not a real currency because it is not issued by the monetary authority and has no legal compensation and mandatory monetary attributes. In nature, bitcoin 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< Second, financial institutions and Payment institutions are not allowed to carry out bitcoin related business
at this stage, financial institutions and Payment institutions are not allowed to price bitcoin as a proct or service, buy or sell bitcoin as a central counterparties, underwrite bitcoin related insurance business or include bitcoin into the scope of insurance liability, Shall not directly or indirectly provide customers with other services related to bitcoin, including: providing customers with bitcoin registration, trading, clearing, settlement and other services; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
Third, strengthen the management of bitcoin Internet sites
in accordance with the telecommunication regulations of the people's Republic of China and the measures for the administration of Internet information services, Internet sites providing bitcoin registration, trading and other services should be filed with the telecommunications regulatory agency
in accordance with the identification and punishment opinions of relevant administrative departments, the telecommunications regulatory authorities shut down illegal bitcoin Internet stations in accordance with the law< Fourth, to guard against the possible money laundering risk caused by bitcoin
all branches of the people's Bank of China should pay close attention to the trend and situation of bitcoin and other similar virtual commodities with the characteristics of anonymity and cross-border circulation convenience, carefully study and judge the money laundering risk, and study and formulate targeted preventive measures. All branches shall bring into anti money laundering supervision the institutions established according to law and providing bitcoin registration, trading and other services within their jurisdiction, and urge them to strengthen anti money laundering monitoring
Internet stations that provide bitcoin registration and transaction services should fulfill their obligations to fight money laundering, identify users' identities, and require users to register with real names, register name, ID number and other information.
all financial institutions, Payment institutions and Internet websites providing bitcoin registration, trading and other services should report to China Anti Money Laundering Monitoring and Analysis Center immediately if they find suspicious transactions related to bitcoin and other virtual commodities, and cooperate with the anti money laundering investigation activities of the people's Bank of China; If any criminal activity clues such as fraud, gambling, money laundering are found using bitcoin, they should report to the public security organ in time< All departments, financial institutions and Payment institutions should correctly use the concept of money in their daily work, and pay attention to strengthening the ecation of the public's knowledge of money, so as to have a correct understanding of money, a correct view of virtual goods and virtual money, rational investment, a reasonable control of investment risks, and a rational understanding of the concept of money The concept of maintaining the safety of their own property should be included in the content of financial knowledge popularization activities to guide the public to establish a correct concept of money and investment
all financial regulatory agencies may formulate relevant implementation rules in accordance with this circular
the Shanghai headquarters of the people's Bank of China, all branches, business management departments and central sub branches of provincial capital cities are requested to forward this circular to all local financial institutions and Payment institutions within their jurisdiction. Please report to the people's Bank of China in time any new situation or problem found ring the implementation of this circular.
the notice clarifies the nature of bitcoin, and holds that bitcoin is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, and is not a real currency. In terms of nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency and cannot and should not be used as currency in the market. However, bitcoin trading as a commodity trading behavior on the Internet, ordinary people have the freedom to participate at their own risk
the notice requires that at this stage, all financial institutions and Payment institutions shall not price procts or services with bitcoin, buy or sell bitcoin as a central counterparties, underwrite insurance business related to bitcoin or include bitcoin into the scope of insurance liability, and provide other bitcoin related services to customers directly or indirectly, Including: providing bitcoin registration, trading, clearing, settlement and other services for customers; Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin and RMB and foreign currency exchange services; Carry out bitcoin storage, custody, mortgage and other services; Issuing financial procts related to bitcoin; Take bitcoin as the investment target of trust, fund, etc
according to the notice, the bitcoin Internet website, as the main trading platform of bitcoin, shall be filed with the telecommunications administration according to the provisions of the Telecommunications Regulations of the people's Republic of China and the measures for the administration of Internet information services. At the same time, in view of bitcoin's high risk of money laundering and being used by criminals, the notice requires relevant institutions to perform the legal anti money laundering obligations such as customer identification and suspicious transaction report in accordance with the anti money laundering law of the people's Republic of China, so as to effectively prevent the money laundering risks related to bitcoin
in order to avoid excessive speculation of virtual commodities such as bitcoin in the name of "virtual currency" and damage the public interest and the legal tender status of RMB, the circular requires financial institutions and Payment institutions to correctly use the concept of currency in their daily work, pay attention to strengthening the ecation of the public's knowledge of currency, and correctly understand the concept of currency The concept of correctly treating virtual commodity and virtual currency, rational investment, reasonable control of investment risk, and maintenance of their own property security should be included in the content of financial knowledge popularization activities, so as to guide the public to establish a correct concept of currency and investment
in the future, the people's Bank of China will continue to pay close attention to the trend and related risks of bitcoin based on its own responsibilities (end)
China's Inner Mongolia Autonomous Region Development and Reform Commission recently issued a document saying that it is strictly forbidden to build new virtual currency mining projects, and plans to comprehensively clean up and shut down virtual currency mining projects by the end of April 2021. Singapore's Lianhe Zaobao reported on the 2nd that Inner Mongolia is popular in the virtual currency instry because of its low-cost electricity, which has triggered concerns that China will take more measures to ban high-energy virtual currency mining activities. After the news was reported by the international media, the price of bitcoin rose by 6% on Monday. As of the press release on the evening of the 2nd, bitcoin was at $48672.3{ RRRRR}