Is virtual cryptocurrency transaction illegal
virtual currency fraud calls 110 directly
many departments, such as the China Banking and Insurance Regulatory Commission, the central office of information technology, the Ministry of public security and so on, issued risk tips, saying that some criminals, under the banner of "financial innovation" and "blockchain", absorbed funds by issuing the so-called "virtual currency", "virtual assets" and "digital assets", thus infringing the legitimate rights and interests of the public
this kind of activity is not really based on blockchain technology, but on the hype of blockchain concept, illegal fund-raising, pyramid selling and fraud. In essence, it is a Ponzi scheme of "repaying the old by borrowing the new", which is difficult to maintain the long-term operation of funds
the public should treat the blockchain rationally, not blindly believe the promises, establish a correct monetary concept and investment concept, and effectively improve the risk awareness. Report to the public security organ in time after being cheated
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the first is the obvious networking and cross-border of virtual currency. Relying on the Internet and chat tools for transactions, and using online payment tools to balance funds, the risks spread widely and spread quickly. Some lawless elements set up websites by renting overseas servers to carry out activities for domestic residents and control illegal activities remotely
some indivials claim that they have obtained the investment quota of overseas high-quality blockchain projects in the chat tool group and can invest on their behalf, which is most likely fraud. Most of these illegal funds flow overseas, which makes it very difficult to supervise and trace
followed by deception, temptation and concealment. They use hot concepts to hype, fabricate various "tall and tall" theories, and some also use celebrity "big V" platforms to publicize. They use airdrop "candy" as temptation to claim that "currency value only rises but not falls", "investment cycle is short, income is high, and risk is low", which has strong bewitching
in practice, criminals illegally make huge profits by manipulating the price trend of the so-called virtual currency, setting profit and withdrawal threshold. In addition, some criminals also issue tokens under the guise of ICO, IFO, IEO, etc., or hype virtual currency in the way of IMO under the banner of sharing economy, which has strong concealment and confusion
finally, there are many kinds of illegal risks in this kind of behavior. Through public publicity, the illegal elements attract the public to invest funds, lure investors and development personnel to join, and constantly expand the fund pool with the t of currency appreciation and development offline profits, which has the characteristics of illegal fund-raising, pyramid selling, fraud and other illegal acts
On January 18, the business management department of the people's Bank of China issued the "notice on carrying out self inspection and rectification of payment services for illegal virtual currency transactions", which made it clear that the unit and its branches are strictly prohibited from providing services for virtual currency transactions, and took effective measures to prevent payment channels from being used for virtual currency transactions
the notice also shows that for the discovered virtual currency transactions, the payment channels of relevant transaction entities should be closed in time, and the funds to be settled should be properly handled
reported and quoted pan Gongsheng as saying in the memo: "we should always maintain a high pressure on the virtual money market, strictly prevent the risk of virtual money from gathering again, and eliminate the potential risks in the bud." He also said that the national and local authorities should ban the places that provide bitcoin and other virtual currency centralized trading, as well as the so-called "wallet" service providers that provide guarantee and clearing services for virtual currency centralized trading, and indivials or institutions that provide market maker services for centralized trading
Bitcoin has become the most popular cryptocurrency in the world. Some countries allow the transaction of bitcoin, but some countries prohibit it. China belongs to the latter. Why does China shut down bitcoin trading? Let's analyze this problem today
bitcoin does not have the function of trading medium in China, so it can not be called currency. At the same time, bitcoin has the function of storing value and has certain investment value. However, the rapid rise of the current price has formed speculative anticipation and may form a bubble in the future. Therefore, it is necessary to take measures ahead of time, which can also restrain some illegal acts of laundering money and transferring assets through bitcoin. p>
Bitcoin is illegal in China
according to the "notice on preventing bitcoin risks" issued by the people's Bank of China on December 5, 2013:
bitcoin has four main characteristics: no centralized issuers, limited amount, no geographical restrictions and anonymity. 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
at this stage, financial institutions and Payment institutions are not allowed to 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 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
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the risk of bitcoin
1, higher speculative risk. Bitcoin trading market capacity is small, trading 24 hours in a row open, there is no price limit, the price is easy to be controlled by speculators, resulting in dramatic fluctuations, great risk. Ordinary investors blindly follow suit and are easy to suffer heavy losses
2. Higher risk of money laundering. Due to the anonymity and geographical freedom of bitcoin transaction, its capital flow is difficult to monitor, which provides convenience for money laundering and terrorist financing activities
3. The risk of being used by criminals or organizations. As of December 6, 2013, there have been international criminal activities such as drug and gun trading using bitcoin, and relevant cases have been investigated and dealt with
Legal aid centers are generally designed to provide free legal services for the vulnerable groups who need lawyers' services but are unable to hire lawyers e to financial difficulties, and for the specific persons (such as those who may be sentenced to life imprisonment or death sentence, juvenile delinquency, etc.) who are required by law to provide legal assistance but do not hire lawyers themselves, And set up a special legal service agency
Legal aid institutions are responsible for organizing, guiding, coordinating, supervising and implementing legal aid work in the region; Legal Aid Center;, Legal aid institutions should be set up in provinces, cities, districts and counties. For districts and counties that have not yet set up legal aid centers, the judicial bureaus of each district and county shall designate functional departments to perform the ties of legal aid centers on their behalf The legal aid center is set up for the purpose of protecting human rights and maintaining judicial justice and balancethe Legal Aid Center (set up by the judicial department) is the legal practice organization of lawyers in addition to law firms
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legal basis of Legal Aid Center:
legal aid regulations
Chapter I
General Provisions
Article 1 these Regulations are formulated to ensure that citizens in financial difficulties can obtain necessary legal services, promote and standardize legal aid work
Article 2 citizens who meet the requirements of these regulations may obtain free legal services such as legal consultation, agency and criminal defense in accordance with these regulations Article 3 legal aid is the responsibility of the government. People's governments at or above the county level should take positive measures to promote legal aid, provide financial support for legal aid, and ensure the coordinated development of legal aid, economy and society Legal aid funds should be used for specific purposes and subject to the supervision of financial and auditing departments Article 4 the judicial administration department of the State Council shall supervise and administer the legal aid work throughout the country. The judicial administrative departments of the local people's governments at or above the county level shall supervise and administer the legal aid work in their respective administrative areasthe all China Bar Association and local bar associations shall, in accordance with the articles of association of the bar association, assist in the legal aid work implemented in accordance with these regulations
Article 5 the judicial administrative department of the people's Government of a municipality directly under the central government, a city divided into districts or a county level shall, according to its needs, determine the legal aid institutions in its administrative region Legal aid institutions are responsible for accepting and examining legal aid applications, and assigning or arranging personnel to provide legal aid to citizens who meet the requirements of these regulationsArticle 6 lawyers shall perform their legal aid obligations in accordance with the provisions of the lawyers law and these regulations, provide standard legal services for the recipients, safeguard the legitimate rights and interests of the recipients in accordance with the law, and accept the supervision of the lawyers association and the judicial administration department
Article 7 the State encourages the society to contribute to legal aid activities Article 8 the State supports and encourages social organizations, institutions and other social organizations to use their own resources to provide legal aid to citizens in financial difficulties Article 9 the relevant people's governments and judicial administrative departments shall commend and reward the organizations and indivials that have made outstanding contributions to the work of legal aidsource: Internet Legal Aid Center