On further prevention of virtual currency trading activities

1. There are two reasons for the prohibition of virtual currency trading by the state:
1. The price fluctuates violently and the consumer protection is lacking:
virtual currency is the proct of network, and the digital information flowing in the network is beyond the control of all people. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code<
2. Avoiding supervision and becoming the "accomplice" of criminal activities
virtual currency transaction is not protected by law:
virtual currency transaction is not illegal, and it is not illegal to invest in virtual currency. But how to get involved in virtual currency transactions is illegal and illegal. It may be suspected of illegal fund-raising.

2.

One is to block the "going to sea" virtual currency trading platform. As of May 2018, 110 websites, including hot coin.com and coin.com, have been blocked

Fourthly, risk warning and public opinion guidance should be actively carried out. Together with the China Internet Finance Association, we remind the public to be highly alert to the risks and hazards of virtual currency related activities through various channels and forms

Fifthly, we should actively support and cooperate with the public security organs to crack down on all kinds of fake virtual currency and related illegal fund-raising, fraud, pyramid schemes and other activities. According to the statistics of public security organs, in recent years, nearly 300 cases of virtual currency crimes have been filed and investigated

3.

There are two reasons for the prohibition of virtual currency trading by the state:

1. The price fluctuates violently and the consumer protection is lacking:

virtual currency is the proct of network, and the digital information flowing in the network is beyond everyone's control. The code of cyberspace is the basis of the operation of virtual currency, investors can only operate through the front-end interface, seemingly "control" the virtual currency. The operator of the virtual currency service organization may become the actual controller of the virtual currency through the control code

bitcoin and other so-called "virtual currencies" lack a clear value basis, the market is full of speculative atmosphere, the price fluctuates violently, and investors blindly follow suit, which is easy to cause capital losses

2. Evade supervision and become the "accomplice" of criminal activities:

bitcoin is popular as a payment tool in the so-called "dark web" world“ The "dark net" is full of all kinds of serious criminal activities. One of the original intentions of the invention of bitcoin is to evade regulation. It has the characteristics of anonymity and convenient cross-border flow, and has become the preferred tool of "underground economy"

the existence of bitcoin and exchanges and other instrial chains has constructed a illegal financial market for asset transfer and financing in addition to legal currency, increased the difficulty of regulatory authorities in managing financial security and stability, and promoted regulatory arbitrage and financial crimes. The risks and social security risks it brings to the financial market are far higher than its innovative value

extended information

virtual currency transactions are not protected by law:

according to the notice on preventing bitcoin risks issued by the people's Bank of China and other departments on December 3, 2013 and the announcement on preventing financing risks of token issuance issued by seven ministries and commissions including the people's Bank of China on September 4, 2017, virtual currency is not issued by monetary authorities, It is not a real currency because it does not have the monetary attributes of legal compensation and compulsion

in terms of nature, virtual currency 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. Although citizens' investment and trading in other virtual currencies are personal freedom, they can not be protected by law

4. On

10 10, two major domestic payment giants Alipay and WeChat simultaneously voicing, prohibiting the use of platforms in virtual currency transactions. Why did Alipay and WeChat voice at the same time? The reporter understands that this may be related to a dynamic trend of a virtual trading platform in the near future. P>

Alipay and WeChat: once found and resolutely retreated,

has repeatedly banned payment agencies to provide virtual

services. In fact, the central bank and its branches have repeatedly requested payment agencies not to provide services for virtual currency transactions.

as early as the end of 2013, the central bank and other ministries and commissions issued the notice on preventing bitcoin risks, which made it clear that all financial institutions and Payment institutions should not price procts or services with bitcoin, buy or sell bitcoin or act as central counterparties, underwrite insurance business related to bitcoin or include bitcoin in 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

in September 2017, the central bank and other seven departments jointly issued the announcement on preventing the financing risk of token issuance, which stipulates that financial institutions and non bank payment institutions shall not directly or indirectly provide procts or services such as account opening, registration, trading, clearing and settlement for token issuance financing and "virtual currency"

similarly, the business management department of the central bank issued a notice in January 2018, requiring all legal person Payment institutions under its jurisdiction to carry out self inspection and rectification work in their own units and branches, forbidding to provide services for virtual currency transactions, and taking effective measures to prevent payment channels from being used for virtual currency transactions

5. 1、 "The game's internal equipment enhancement system, proction system and enchantment system are all probabilistic. Are they illegal?" I can tell you clearly that it's not illegal< Second, Article 20 of the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency in online games stipulates that "online game operators shall not distribute game props or virtual currency by random means such as drawing lots, betting or random drawing on the premise that users directly invest cash or virtual currency." The purpose of this article is to strengthen market supervision and crack down on illegal and criminal activities such as gambling with virtual currency< Third, your understanding of this article is wrong. 1. The accidental acquisition of equipment and attributes in the game is not necessarily caused by direct investment of cash or virtual currency; 2. Although the acquisition of some attributes in the game is accidental, it is not necessarily through "lottery, bet, random extraction and other accidental distribution"; 3. Only through direct investment of cash or virtual currency, and through drawing lots, betting, immediate drawing and other means of distribution, is the prohibited act stipulated in Article 20.

6. It's not a mining machine. It depends on where you put it. There are high gold mines. It's all stone

7.

Recently, after a sharp correction in the A-share market, the number of stocks breaking the net and breaking the market in Shanghai and Shenzhen has increased According to the statistics of Securities Daily, as of yesterday, 19 stocks in Shanghai and Shenzhen stock markets had fallen below the fixed price, 70 stocks had fallen below the net assets per share, and 220 stocks had fallen below the listing price. In this regard, analysts believe that just as the so-called "do not break, do not stand", the large number of "three broken" stocks is often a sign of the rebound of the market bottom, and there are greater investment opportunities in the "three broken" stocks

At the same time, there are more broken net stocks in the banking instry. As of last Friday, there were 11 broken net stocks, accounting for 15.71% of the broken net stocks. The 11 net breaking bank stocks are: Huaxia Bank, Bank of communications, Minsheng Bank, Bank of China, China CITIC Bank, Bank of Shanghai, instrial bank, Everbright Bank, Shanghai Pudong Development Bank, Bank of Jiangsu and Bank of Beijing

but different from the public utility stocks that broke the net, the performance of listed banks in 2017 is generally expected to be good. Zhongyuan Securities pointed out that in 2017, the operating revenue and asset quality of banks improved in a large area on a month on month basis, and the optimistic expectation was graally realized. It also insisted that the scope of bank performance and asset quality improvement in 2018 will graally expand, from large banks to small and medium-sized banks

According to statistics, the market research center of Securities Daily found that, compared with the IPO price, the latest closing price of the last Friday, the share prices of 220 companies in Shanghai and Shenzhen stock markets fell below the IPO price, of which 127 shares broke more than 20%, while Jinbei Automobile, * ST Ruidian, Huayi Group, magic pharmaceutical, Dahua Group Bainmei, Jixin technology and other stocks were broken by more than 70%

from the perspective of performance, among the 220 companies whose share prices have fallen below the issue price, 181 companies have disclosed the performance forecast of 2017 annual report, and 113 companies have made performance forecast, accounting for 62.43%. From the perspective of the largest year-on-year increase in net profit, 23 companies are expected to double their net profit in 2017, including Fenghua (1058.32%), Shandong mining machinery (601.76%), Jingyi (575.07%), Yisheng Pharmaceutical (400.00%), zhengmeiji (374.20%), Qianzhao Optoelectronics (342.31%), COSCO Haifa (252.00%), Hongda new materials (217.07%) The net profit of PetroChina (203.00%) and other companies in 2017 increased more than 2 times year on year. And 26 companies, including Haohua energy, Linzhou heavy machinery, GCL integration, chlor alkali chemical, Tianlong optoelectronics, tianwo technology, Jinbei Automobile, Huadian heavy instry, are expected to turn losses into profits in 2017

from the perspective of market performance, among the breaking stocks predicted in the 2017 annual report, 31 stocks have declined by more than 20% since January 29. Among them, Kerong environment, Tongda Power, HNA innovation, Jingyi shares, Hainan mining, Shenke shares, lei technology and other stocks have declined by more than 25% ring the period

8. The first choice is the coin dragon net, and the user is also more, the feeling is still very stable and formal, with more convenient

9.

It is impossible to withdraw 200000 global currency. The business management department of the people's Bank of China issued the notice on self inspection and rectification of payment services for illegal virtual currency transactions, requiring legal person Payment institutions within their jurisdiction to carry out self inspection and rectification in their own units and branches from the date of document release, strictly forbidding to provide services for virtual currency transactions, and taking effective measures to prevent payment channels from being used for virtual currency transactions

the notice also requires that all units should strengthen the daily transaction monitoring, timely close the payment channels of relevant transaction subjects for the discovered virtual currency transactions, and properly handle the funds to be settled, so as to avoid mass incidents

this is not the first time that the regulatory authorities have imposed restrictions on virtual currency transactions. Last year, the regulatory authorities issued the "notice on preventing the financing risk of token issuance", which clearly pointed out that financial institutions and non bank payment institutions are not allowed to carry out business related to token issuance financing transactions

financial institutions and non bank payment institutions shall not directly or indirectly provide account opening, registration, trading, clearing, settlement and other procts or services for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability

extended materials:

risk tips on further preventing "virtual currency" trading activities

with the promotion of blockchain technology, virtual currency trading activities are showing signs of resurgence in China, and some virtual currency trading platforms provide virtual currency trading services for domestic residents, The introction of zero interest lending, al currency financing and other projects through digital currency mortgage seriously violates the announcement on preventing the financing risk of token issuance issued by seven ministries and commissions including the people's Bank of China, and is suspected of engaging in illegal financial activities and disturbing the economic and financial order

the financial management departments, network and telecommunication management departments and public security departments within their jurisdiction keep a high pressure on the supervision of virtual currency trading, ICO and ICO in disguised form, and comprehensively use on-site interview, administrative investigation, website closure, criminal case filing and other means to crack down

here, we seriously warn the institutions and personnel in Beijing who carry out relevant activities not to publicize and promote relevant virtual currency projects or platforms, not to carry out sales or transactions of virtual currency business, not to carry out virtual currency transactions or disguised transactions with investors, not to engage in or act as an agent in the issuance and trading of virtual currency at home and abroad, All financial institutions and non bank payment institutions within their jurisdiction shall not provide services for any virtual currency transaction

at the same time, we should remind investors to be rational, strengthen risk prevention awareness and identification ability, guard against being cheated, and timely report relevant illegal clues