People's Daily's latest views on virtual currency
In 2020, the state's view on virtual currencies such as radar currency and bitcoin is to strengthen supervision and guard against derivative risks of virtual currency
in April 2020, the teleconference on the special rectification of Internet Finance and Internet lending risks held in China indicated that we should strengthen the monitoring of new risks in other fields, such as Internet asset management, virtual currency speculation, illegal foreign exchange trading, etc., establish a mechanism for rapid study, determination, disposition and strike, and always maintain a high-pressure situation to prevent recurrence
on May 1, 2020, the amendments to Japan's "capital settlement law" and "financial instruments and transactions law" officially came into effect to strengthen the supervision of users' funds of virtual currency exchanges and prevent fraud, theft and money laundering. Japan's move is representative, which shows that strengthening the supervision of virtual currency has become the consensus of major countries in the world
All governments have been keeping a high degree of vigilance against all kinds of risks that may be derived from the application of virtual currency, and find out the risk base of virtual currency through investigation, research and cooperation, so as to have a definite target in the regulatory actionat present, the regulatory directions of various countries mainly include clarifying the rules of virtual currency payment services, protecting the data security of consumers, regulating illegal financing activities, combating terrorist support, and strengthening the prior and in-process supervision of virtual currency through the promulgation of laws and regulations and regulatory guidelines
in March 2018, the British government set up the virtual currency task force to closely investigate and study the financial crimes, market integrity risks and financial stability risks that may be caused by virtual currency, and timely incorporate them into the regulatory system. In January 2019, Singapore passed the payment services act to regulate Singapore's virtual currency payment system and payment service providers
At the same time, the US House of Representatives passed the financial technology protection act, which will set up an independent financial technology working group to conct an independent investigation on organizations and personnel who use virtual currency to engage in illegal financing and terrorist activitiesin March 2020, the South Korean Congress passed the amendment to the specific financial transaction information act, which requires the South Korean virtual currency exchange to perform the anti money laundering obligation and register the real name of the transaction account, so as to strengthen the supervision of the transaction and deposit and withdrawal of the virtual currency account
bitcoin, Ruitai coin, Laite coin and Qianjin card are only high-risk and high-yield investment procts in China. There is no such thing as "only rising but not falling" in the digital currency circle. If there is, it must be a pyramid scheme or artificial control.
with the upgrading of payment methods, we can eat, take a taxi and go to the supermarket without cash. The amount of cash needed in circulation is getting smaller and smaller. Can we replace paper money with a virtual digital currency? This is not a whim. The central bank recently said that the research on digital currency has achieved phased results, striving for the early issuance of digital currency. If the digital currency is successfully issued, it will not only make people's living and payment more convenient, but also increase the transparency of economic transaction activities for the country. So, how far is digital currency from us< Not long ago, the people's Bank of China revealed that a special research team had been set up in 2014 to conct in-depth research on digital currency issuance and business operation framework, key technologies of digital currency, issuance and circulation environment, etc
what is digital currency? Many people may be unfamiliar with this. There is no official definition of digital currency. According to the instry, the digital currency referred to by the central bank should be the electronization of RMB. At present, people's daily third-party payment behaviors such as bank transfer and yu'ebao are all related to digital currency. Digital currency in a broad sense includes unofficial virtual currency, such as bitcoin, which was popular before
here we also need to mention a new term called "blockchain technology", which is a new technology of the Internet. Digital currency is supported by blockchain technology, which is characterized by "decentralization", that is, taking away the centralized control of an institution over the issuance of currency. Yu Fenghui, a financial critic, said that the trust problem in the virtual economic system can be solved through blockchain technology. Taking bitcoin as an example, it is not issued by a specific monetary institution, but is generated by the transaction volume of network nodes, and is single, traceable and traceable after it is put into circulation. All funds are very transparent where they come from and where they go
a more familiar form of digital currency should be electronic RMB, which has infiltrated into various consumption scenarios of electronic payment. There is no need to repeat the impact and subversion of electronic payment on our lives. Credit card payment and code scanning payment have greatly reced the space for the use of paper money. It can be seen that the progress of technology has graally forced the withdrawal of paper money
the new favorite of the financial system
the attitudes of all countries towards digital currency are changing. It is reported that DNB, Norway's largest bank, recently called on the government to stop using cash completely. In fact, several banks in Norway have closed some branches' cash business. Only three branches of DNB have counter cash business. Other Norwegian banks are also phasing out cash transactions. According to statistics, only 6% of Norwegians still use cash every day, most of them are the elderly
not only Norway, but also the world is moving towards the era of digital currency. According to Xiao Lei, chief researcher of gold wallet, many institutions, including Nasdaq Stock Exchange, Goldman Sachs and modern, began to invest in the research because of the continuous impact of digital currency represented by bitcoin on the world financial system. It is found that the blockchain technology used in digital currency can bring convenience and rece costs to many institutions, and there are cases that can be applied to the real economy. This gives more countries and institutions the incentive to invest in blockchain technology and digital currency
in China, some institutions have shown great interest in it and invested in research. It is understood that Alibaba Finance announced that it may provide a cloud service platform based on blockchain technology
digital currency is sought after and favored because there is no real "world currency" in the current global market. It is understood that although the US dollar is currently the most widely used currency in the world, not every country readily accepts the US dollar as the world currency. Xiao Lei said that the world currency should be like gold, with the characteristics of "de nationalization". Digital currency can even be regarded as gold in the gold standard era, and is expected to become the "general equivalent" in the Internet era in the future
the application space is broad
it is not difficult to see that digital currency is highly expected. Instry insiders said that once digital currency comes out, it will be applied to many fields
from a national perspective, the "trace" and "traceability" of digital currency can improve the convenience and transparency of economic transactions. Yu Fenghui said that money laundering, tax evasion and other criminal activities are expected to decrease. At the same time, with the application of blockchain technology, a unified account book will be established nationwide and even worldwide, so that every sum of money can be traced, every transaction can be traced, tax evasion and money laundering will be within the scope of supervision, and it is even possible to realize automatic tax dection on the card machine
for the central bank, digital currency can rece the high cost of traditional paper money issuance and circulation, and solve the problem of currency over issuance and inflation caused by the central bank's centralized control of currency issuance right. Bai Chengyu, Secretary General of China microfinance Union, said that digital currency can generate a certain amount of transaction volume according to the transaction demand of real economy generated by the public in the transaction process“ This form of digital currency may be automatically generated by the blockchain system and issued according to the transaction volume, which can avoid the inflation caused by over issuance. "
in addition, digital currency helps to build a new financial infrastructure. For example, digital currency will make the credit accumulation and archives of all people traceable and accessible, which is of great significance to promote the construction of credit system. Yu Fenghui said that after the promotion of digital currency, from the perspective of social credit accumulation, enterprises and consumers will tend to use digital currency and swipe cards for consumption, because electronic transactions have data traces, which can accumulate the credit of enterprises and indivials, which will become the basis for obtaining financial services such as banks< In addition to helping the state to regulate and improve the financial system, digital currency is closely related to people's life. It is not only the convenient payment that people have felt, but also reflected in many aspects
first of all, it is very difficult to have counterfeit money in the market. According to Bai Chengyu, one of the characteristics of blockchain is transparency. The issuance of digital currency needs to be certified, so it is difficult to forge
as well as counterfeit money, there should be the problem of plundering the wealth of people and enterprises in local areas, which will be fundamentally solved by digital currency. Bai Chengyu said that compared with the previous state's decentralization of poverty alleviation funds to local governments, some governments have the phenomenon of "evasion", which leads to the fact that some poverty alleviation objects can not get the funds“ At the beginning, it was cash distribution, and later it was bank transfer. However, there was a problem that there were not many bank outlets in some remote areas, and people had to walk a long way to get money. If there is a digital currency, there is no need to withdraw cash for consumption and payment, and it will be easier to monitor capital flow. "
moreover, the use of digital currency will rece financial transaction costs. Bai Chengyu said that before, the inter-bank settlement of banks had to charge service charges, because the settlement center required each bank to keep a part of the capital to balance its position. This part of the capital occupied the bank's funds, and the bank would spread the cost to the people, that is, to charge for the inter-bank settlement business. The "decentralized" payment and clearing system under the blockchain technology will facilitate the settlement between banks and further rece the transaction cost of people's payment
the next step of "de centralization" is "de intermediation", which will simplify many current financial business proceres, such as foreign exchange. Bai Chengyu said that previously, foreign exchange clearing had to go through banks and other clearing institutions, which increased the exchange cost and time interval. Now, the international community has tried to use blockchain technology to develop a new international currency exchange system, which can realize the "de centralized" exchange of currency and "de intermediary" in the future
resistance to implementation
although many countries and institutions are actively developing digital currency and blockchain technology, and people are full of expectations for it, even if digital currency is really issued, it will still face some resistance to implementation
technically, because blockchain is an Internet technology, "hacker" risk is taken into account. The bigger problem, though, is control. Many people in the instry said that bitcoin is essentially different from the digital currency to be launched by the central bank. Bitcoin is not issued by a specific monetary institution, and the relevant financial supervision has not been followed up, so there is a large capital risk. However, the digital currency to be launched by the central bank this time belongs to the official currency and is protected by the central bank. Because bitcoin is not uniformly issued by the central bank, it has not been recognized by many countries. The central bank values whether digital currency is controlled or not
in addition, as mentioned above, even as a leading country in digital currency promotion, Norway still has 6% of the elderly people who are difficult to get rid of paper money, which is undoubtedly a problem that can not be ignored by all countries. Xiao Lei said that digital currency will first be targeted at young people and promoted in some areas. It will not turn all the money in the cash flow into digital currency. This needs to consider the coordination between digital currency and paper money and people's willingness to use them
there is bound to be an adaptation process from paper money to digital currency, and the road of its reform will be very long, but it can be seen that digital currency will inevitably form a development trend. Bai Chengyu said that technological innovation will overcome the problems in reality, just like going to a bank to do business now. If it does not involve cash, the lobby manager will recommend customers to ATM and other self-service equipment. This is a good proof that technological innovation has replaced labor in the past. Now the application of mobile phone is also very simple. It can be predicted that the technology will continue to update in the future. The use of electronic channels, digital currency and other procts in the new era will become a trend
Beijing Business Daily reporter Liu Zexian Cheng WeiMiao
of course, the central bank's digital currency is different from bitcoin, wikilink, bitcoin cash, Ethereum and other digital currencies on the market. The central bank's digital currency has the property of currency.
from q-coin and counting roll used to buy props to bitcoin which can be exchanged with us dollar and euro today. It shows that the utilization rate and universality of virtual currency are graally increasing. I think this kind of virtual currency has both advantages and disadvantages. Virtual currency makes up for the deficiency of currency, but it will not replace the real currency
1. Security of virtual currency. The day before yesterday, a bitcoin trading platform headquartered in Japan was favored by many people. However, e to the loss of 750000 bitcoins from customers and 100000 bitcoins of its own, the company had to file for bankruptcy protection. This fully shows that the security of virtual currency is difficult to guarantee
2. The use of money cannot be regulated. The problem is that there is no manager similar to the central bank. Due to the strong anonymity, it is easy to be used for illegal transactions such as speculation and drugs, as well as money laundering. Without the network of financial institutions, it is difficult to grasp their liquidity, which will bring difficulties to taxation
although it has many uncertainties, virtual currency is very effective and reliable to a certain extent
1. The possibility of inflation of virtual currency is small, and it is not affected by policy. Avoiding the influence of the central government on finance, virtual currency can prove the stability of its value because of its limited circulation. It will not raise prices and lower the value of money because of the increase of money supply
2. Strong circulation. People can use bitcoin to trade anywhere in the world where there are networks and computers, which is very convenient
it not only saves time, but also saves a lot of transaction costs
after comparison, I think that the virtual currency will be saturated and will not pose a threat to the real currency. On the one hand, in the backward regions and countries, they rely more on currency, resulting in a gap with the developed regions. On the other hand, with the development of network technology, the security of virtual currency will be more and more difficult to determine. It is also very difficult for people to use a lot of money in the form of virtual currency in huge investment. Especially in a country with traditional culture such as China, people are more confident that they will hand over their property to the financial instry such as banks, rather than in the online world like flowers in the mirror< There is no comparability between bitcoin and stock. Stock is people's profit expectation for a company. For example, a company constantly proces new procts to increase its wealth. People can obtain wealth growth with the company by holding shares of the company. And the stock is an investment proct, without monetary attribute, it is impossible to say how much ICBC stock an iPad is worth. On the contrary, like bitcoin, the stock can be converted into legal currency through the exchange to purchase the iPad. Similarly, in the so-called companies that accept bitcoin payment, all of them are marked with legal currency. They accept bitcoin through a third-party company, and finally receive legal currency from a third-party company
therefore, stock is people's expectation for the future development of a company, and it is an investment proct. There is no comparison with bitcoin, which clamors to become a currency
2. The existence of money lies in circulation and pricing. A thing that has been reced to a speculative tool since its existence, expecting appreciation and redistributing wealth can not become money
3. As cndx God said, bitcoin will have 2.0 in the future, which will be seamlessly connected with 1.0. That's funny. Why should the inventor of 2.0 connect with 1.0? Just as bitcoin does not connect with RMB, it is another opportunity for wealth redistribution
4. The existence of virtual currency can only meet the money laundering needs of a small number of people, so there is a market. For example, if someone wants to launder US $1 million recently, the ratio of bitcoin to legal currency will change, which is also in line with the market rules. Of course, money laundering is risky. If you buy one million dollars of bitcoin, you will hold it forever without losing any money
5. My legal currency is in the bank. If I lose it, I can still get it back with my ID card. Is my bitcoin password gone? Who should I go to
6. The currency expected by cndx will not be lost. At most, it will play in a certain circle just like Q currency
7. This thing is the proct of anarchism. If you want to embody value, you can only do it without government. The distribution of wealth depends on power and blood. For example, if you hold 10000 bitcoins, ZF says not to use them, and you say I'll use them. Bang, you're dead. Oh, bitcoin has appreciated again, because the total amount is less than 10000.
Sina science and technology news on the morning of October 30, the State Administration of Taxation announced the "reply on the issue of personal income tax on the income of indivials from buying and selling virtual currency through the Internet", which means that domestic indivials purchase players' virtual currency through the Internet and sell the income to others after increasing the price, Indivial income tax must be paid. In response to the Beijing Local Taxation Bureau's request for instructions on how to calculate and levy indivial income tax on indivials' income from online sales of virtual currency, the State Administration of Taxation has made the above reply, clearly stipulating that the income obtained by indivials from online purchase of players' virtual currency and sale to others after price increase belongs to indivial income tax taxable income, The indivial income tax shall be calculated and paid according to the item of "income from property transfer"
at the same time, the State Administration of Taxation emphasizes that the original value of an indivial's property selling virtual currency is the price and related taxes paid for his purchase of network virtual currency. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the "income from property transfer" project is fixed at 20%, and Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials
China's regulatory authorities have stopped the issuance and trading of virtual currency, and China's policy does not allow the issuance of any virtual currency
turn left | turn right
announcement on preventing the financing risk of token issuance:
< UL >accurately understand the essential attribute of token issuance financing activities
no organization or indivial is allowed to illegally engage in token issuance and financing activities
strengthen the management of token financing trading platform
all financial institutions and non bank payment institutions are not allowed to carry out business related to token issuance financing transactions
the public should be highly alert to the risks of token issuance financing and transaction
give full play to the self-discipline role of instry organizations