Possible crimes of creating virtual currency

1. May involve illegal fund-raising and pyramid selling and other related criminal crimes
(1) at present, there is no regulation to regulate the trading platform, but the trading platform should also fulfill the audit obligation. For example, when online trading various network virtual currencies, it should audit whether the currency is a network virtual currency based on blockchain technology
(2) if the trading platform knows that the online trading currency is suspected of MLM, but in order to collect Commission, it also provides trading services for the currency and promotes its development, once the currency is identified as MLM, the trading platform may have to bear certain legal liabilities
(3) at the same time, a large number of customers' funds are stored in the accounts of virtual currency trading institutions. However, all online virtual currency trading institutions are not qualified to absorb public funds, which makes trading institutions face the potential risk of illegal fund-raising
the 2017 version of the guide to the identification of internet pyramid selling (hereinafter referred to as the guide) lists several differences between virtual currency and pyramid selling currency:
(1) from the perspective of issuing mode, virtual currency does not rely on specific monetary institutions, it is a decentralized issuing mode according to specific algorithms; The MLM currency is mainly issued by a certain institution, and the profit is made by pulling the head
(2) from the perspective of transaction mode, virtual currency is a kind of sporadic transaction spontaneously formed by the market. After the scale is formed, the transaction is graally completed by a third party establishing an exchange, while MLM currency is issued by an institution and traded on its own platform
(3) from the perspective of implementation, virtual currency itself is an open source program, while the open source of MLM currency is completely ing other people's open source code, and there is no use of open source code to build programs, which is essentially controlled by the website as Q coin.

2. 1. Although network virtual currency can not be completely equivalent to money and other traditional property, in specific occasions, the perpetrator can achieve the criminal purpose of illegally obtaining other people's property through the possession of virtual currency. Therefore, the fraud of virtual currency may also endanger the property safety of citizens, legal persons and other organizations, which has considerable social harmfulness and should also be punished as a crime
2, if the public security organs suspect the criminal detention, the procuratorate can not approve the arrest, they should apply for l pending trial. Bail pending trial also goes through the court
the seventy-seventh provision of the criminal procere law stipulates that the people's court, the people's Procuratorate and the public security organ shall not exceed twelve months for the suspect and defendant to be l, and the longest residence shall not exceed six months.
ring the period of l pending trial and residential surveillance, the investigation, prosecution and trial of the case shall not be interrupted. If it is found that criminal responsibility should not be investigated or the term of l pending trial or residential surveillance has expired, the l pending trial or residential surveillance shall be lifted in time. In case of cancellation of l pending trial or residential surveillance, the person who has been led pending trial or residential surveillance and the relevant units shall be informed in time.

3.

According to the news on February 10, 2018, on September 4, 2017, seven ministries and commissions of the people's Republic of China issued the notice on preventing the financing risk of token issuance, which regulates the issuance of tokens. In the notice, the nature of all kinds of tokens and "virtual currency" is clearly defined: it is not issued by the monetary authority, and it has no monetary attributes such as legal compensation and mandatory, It does not have the same legal status as currency and cannot and should not be used as currency in the market. Nevertheless, it is undeniable that all kinds of "virtual currency" still have a certain property value and are part of the property of the holder. So, how to identify the nature of the theft of such tokens

In order to protect the legitimate rights and interests of "virtual token" holders, the author intends to discuss such issues through a relevant news report and relevant cases

stealing bitcoin

recently, a news report said that Haidian police in Beijing cracked a case of destroying computer information system. The suspect Zhong used his administrator's authority to modify the company's computer applications and steal 100 bitcoins. Before he could sell the stolen money, Zhong was arrested by the police. At present, Zhong was detained for the crime of destroying computer information system

it can be seen from the report that the police detained the perpetrator for stealing bitcoin on suspicion of damaging the computer information system. The crime of destroying the computer information system stipulated in Article 286 of the criminal law of our country refers to the act of deleting, modifying, adding or interfering with the functions of the computer information system in violation of the provisions of the state, resulting in the abnormal operation of the computer information system and serious consequences, or deleting, modifying or interfering with the data and application programs stored, processed or transmitted in the computer information system Modifying or adding operations with serious consequences, or deliberately making or spreading destructive programs such as computer viruses, which affect the normal operation of the computer system with serious consequences

In the author's opinion, this crime is one of the crimes of impairing social management order in Chapter 6 of the criminal law, that is, the legal interest protected by this crime is actually the public order of our society, not the property interests of the digital currency holders, which in fact denies the property value of digital currency, It is only protected as a data or system function in a computer system. The author thinks that there is some irrationality in this way

first of all, in the notice on the prevention of bitcoin risk issued in 2013, it is mentioned that bitcoin is not a real currency because it is not issued by the monetary authority and does not have such monetary attributes as legal compensation and compulsion. Bitcoin has four main characteristics: no centralized issuers, limited amount, no geographical restrictions and anonymity. Because it belongs to a specific virtual commodity in nature The notice also clearly mentioned that bitcoin does not have the same legal status as currency and should not be used as currency in the market. However, as a virtual commodity, the property value behind bitcoin cannot be ignored

Secondly, Article 127 of the general provisions of the civil law, which came into effect on October 1 last year, stipulates that if the law has provisions on the protection of data and network virtual property, such provisions shall prevail. Although only the protection of the network virtual property has made the principle provisions, but it can not be denied that this shows our country's attitude towards the protection of the network virtual property. Although there is no special law for the protection of data and network virtual property in China, from the perspective of the general provisions of civil law, it is predicted that there will be relevant legislation in the future

finally, from the relevant cases, we can also see the recognition of the property attribute of virtual currency such as bitcoin in China's judicial practice. In April and may 2013, Liu premeditated to set up a bitcoin trading platform, so he recruited Jin and Huang (both sentenced) to jointly set up a "bitcoin" trading platform. During this period, Liu, Huang, Jin, Jin and the defendant he, in addition to other acts of directly stealing customers' funds, also frequently cashed RMB by selling customers' bitcoins, and transferred 120 bitcoins from the website. Finally, the court convicted and punished the defendant for fraud, and the bitcoin transferred by the defendant was also included in the property loss of the victim. Therefore, from the judicial cases, we can also get the recognition of the property attributes of virtual currency such as bitcoin

based on the above reasons, the author thinks that it may be unreasonable to regulate the theft of virtual currency only as the crime of damaging computer information system. We should face up to the hidden property value and consider the application of the crime of infringing property in China's criminal law. Only in this way can we effectively protect the legitimate rights and property of digital currency holders in China

4. For example, the game currency used in online games, in fact, is recharged with real currency, or the game reward (game equipment or level) you get for spending a lot of time and energy in the game. In a sense, it condenses your labor and forms the income of labor, so when others violate your virtual currency in the game, That is, it constitutes a crime
in the form of game fraud, game account theft, etc

5.

On September 4, the people's Bank of China and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly regulated the relevant behaviors

after the regulatory authorities made clear their attitude, although bitcoin China, huocoin.com and other "virtual currency" operators have successively taken restrictive measures on the trading platform, the risk of "virtual currency" speculation is still worthy of high vigilance

compared with the traditional financial procts and activities, "virtual currency" does not have an objective value reference at present, and the financial activities based on "virtual currency" are far away from the regulatory system for a long time, so the related financial activities are easy to fall into the problems of "expected pricing" and "emotional pricing". In this context, the "virtual currency" may not only hide the grey transaction or even the black transaction, but also cause all kinds of risks, "crowd out" the real financial innovation, which is not concive to the sustainable and healthy development of Internet finance

6.

It's not illegal

For example,

1. the virtual currency represented by bitcoin is legal in China, which is defined as a special Internet commodity, and people can buy and sell freely at their own risk

2. but it is illegal to carry out pyramid schemes under the guise of bitcoin. Now to create a virtual currency trading platform, we must record the website and implement real name authentication for users

3. bitcoin is legal in most countries around the world, except that some small countries explicitly prohibit bitcoin

< / OL >


since 2003, the more popular virtual currencies are bitcoin, Laite coin, Fuyuan coin, doggy coin, Diablo coin, reborn coin and so on

7. First, virtual currency, such as bitcoin, or some game and network currencies, such as QB and some game gold coins, are all personal legal property. As long as an indivial legally obtains them, they will be protected
Second, transactions prohibited by the state, especially speculation and trading of the virtual currency are prohibited in China. However, banning trading does not mean that the virtual coin itself is illegal or worthless
for example, bitcoin, which China refuses to recognize as any regional chain block currency, also forbids trading and services, does not mean that bitcoin itself has no value. In the international trading system, bitcoin is recognized in some regions, And there is a corresponding value scale
when someone steals bitcoin or swindles bitcoin, the state will still treat it as theft or fraud, and the amount needs to be approved< At present, the transaction and pricing of virtual currency are prohibited in China, but the value and holding of virtual currency itself are not prohibited. As long as the currency is not defined as illegal, it is legal.
similarly, game currency is also recognized as legal property, but its transaction is prohibited by the state, which does not affect the corresponding legal liability caused by the infringement of virtual currency

8.

Shenzhen Gaoge home furnishing Co., Ltd. is a limited liability company incorporated in Shenzhen, Guangdong Province on July 18, 2018, with its registered address at e026.27, Yimao center, Meiyuan Road, Sungang street, Luohu District, Shenzhen

the unified social credit code / registration number of Shenzhen Gaoge home furnishing Co., Ltd. is 91440300ma5f7y0t8r, which is printed by the enterprise legal person and is currently in business

Shenzhen Gaoge home furnishing Co., Ltd. has a general registered capital in the province

view more information and information of Shenzhen Gaoge home furnishing Co., Ltd. through network enterprise credit

9. It is necessary to distinguish the role of different persons involved in the case. If they are ringleaders, they may be sentenced to death, because different criminal acts are dealt with differently in China's criminal law.