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Virtual currency regulated

Publish: 2021-05-28 23:57:05
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.

It is illegal to issue virtual currency privately

According to Article 29 of the regulations of the people's Republic of China on the administration of RMB, no unit or indivial is allowed to print or sell token tickets to replace RMB in circulation on the market

In addition, the "emergency notice of the State Council Office for rectifying unhealthy tendencies in the instry, the State Economic and Trade Commission and the people's Bank of China on prohibiting the issuance and use of various token certificates (cards)" also strictly prohibited similar issues

extended data

virtual currency refers to non real currency. Well known virtual currencies, such as online currency of Internet company, q-coin of Tencent company, q-point and voucher of Shanda company, micro currency launched by Sina (used for micro games, Sina reading, etc.), chivalrous Yuanbao (used for chivalrous road game), silver grain (used for bixue Qingtian game), and popular digital currencies in 2013 include bitcoin, Laite coin, infinite coin, quark coin, zeta coin, etc Barbecue coins, pennies (Internet), invisible gold bars, red coins, prime coins. At present, hundreds of digital currencies are issued all over the world. Popular in the circle & quot; The legend of "bitcoin, Wright silver, infinite copper, pennies aluminum"

market formation

the Internet has led to the emergence of a new market, which is a virtual market based on cyberspace. The Internet provides a lot of communication places for consumers, and also provides business market for enterprises. Enterprises must change from proct centered to service centered to customer centered. With the development of computer artificial intelligence technology and database technology, enterprises can conveniently collect customers' information, understand customers' needs in time, change business strategies and grasp economic arteries in real time

With the rapid development of computer and network communication technology, the application of Internet technology has graally penetrated into various fields of human activities, and the unlimited business opportunities that it contains make businesses turn their eyes to e-commerce. E-commerce is penetrating into all aspects of social and economic life at a speed that people can hardly imagine

the traditional finance is also closely watching this irresistible trend of global economic integration and networking. As a result, value-added services take art as the selling point and can be regarded as commodities; The sword in the game is not a brand-new financial services business philosophy - e-finance came into being

from the historical development process, to understand e-finance, we must start from the electronic finance and e-commerce. The so-called e-financialization means that financial enterprises adopt modern communication, computer, network and other information technology means in addition to Internet technology to improve the work efficiency of traditional financial service business, rece operating costs, realize the automation of financial business processing, informatization of financial enterprise management and scientific decision-making, and provide customers with faster and more convenient services, And then enhance the financial enterprise is the behavior of market competitive advantage

e-finance is a transcendence of financial electronization. Different from the electronic finance, the main technical basis of e-finance operation is the increasingly perfect Internet technology. Due to the characteristics of global connectivity, openness, quickness and low marginal cost of Internet technology, e-finance strengthens the restructuring and innovation of financial services business based on Internet technology, so that customers are free from the restrictions of business hours and places, and enjoy all kinds of high-quality and low-cost services provided by financial enterprises anytime and anywhere

with the development of Internet, the form of money is becoming more virtual, and there is an electronic money that only exists in the form of electronic signal

reference source: Network: virtual currency

3. Reason: with the rapid development of information technology, real money is far from meeting people's demand for capital flow. If there are enough people to recognize the value of a virtual currency, it may become a substitute unit of material exchange, and the existence of virtual currency will inevitably cause another upsurge in the financial sector
in view of the possible risks of virtual currency, many international organizations and central banks have responded publicly to the supervision of virtual currency system. These responses can be roughly divided into four categories: warning and risk warning, supervision and registration permission, legislative norms, and explicit prohibition
(1) warning and risk warning
some central banks and regulators have issued risk warnings against the special currency and virtual currency system. The federal financial regulatory authority of Germany, the Bank of France, the central banks of the Netherlands and Belgium have issued public warnings against the possible money laundering and terrorist financing caused by the use of bitcoin. In the report released at the end of 2013, the European Banking authority (EBA) warned consumers of many risks of virtual currency, such as exchange loss, e-wallet theft, unprotected payment, price fluctuation and so on. Although Spain did not have a similar risk warning, it issued a timely information announcement related to virtual currency
(2) supervision and registration license
generally speaking, international organizations believe that the supervision of virtual currency should find a balance between risk prevention and innovation promotion. Since 2012, Sweden has required transactions related to virtual currency to be registered with financial regulators. Other countries pay attention to qualification supervision, so as to make it indirectly meet the requirements of prudential supervision. In other countries, the regulation mainly focuses on the business model of virtual currency transaction. The financial prudential regulatory authority of France regards the provision of bitcoin circulation and trading services and the act of earning funds in the process as a payment service and requires the authorization of the government. In addition, some countries focus on the intermediary institutions related to virtual currency. The German federal financial regulatory agency and Danish regulators believe that the provision of intermediary services for virtual currency needs to be authorized< (3) legislative norms
at present, some countries have proposed legislation to regulate virtual currency transactions. Canada plans to legislate to allow the government to supervise the transaction of bitcoin, and to include the transaction of more than US $10000 into the scope of suspicious supervision. The United States hopes to adjust the relevant legal structure should be compared with the development of the special currency. In order to make the Bank Secrecy Act (BSA) applicable in the context of network, the financial crime enforcement network (FinCEN) of the U.S. Department of the Treasury issued the explanatory guidance on the behavior and subject definition of private generation, holding, distribution, trading, acceptance and transmission of virtual currency in 2013. The European central bank stressed that it should strengthen international cooperation under the existing legal framework, and regulate virtual currency from the European and global level under the existing legal framework. More countries believe that bitcoin is not a currency in circulation, has no legal status, and does not meet the definition of financial instruments, such as Finland, Sweden, Malaysia and Indonesia
(4) it is forbidden
in some countries, bitcoin related transactions are prohibited. In December 2013, the people's Bank of China banned financial institutions from trading in bitcoin, which was subsequently extended to payment service providers. The central banks of Thailand and Indonesia share the same attitude. The circulation of anonymous internet currency (including bitcoin) is prohibited by the Russian judicial inspection department as a substitute for currency. The Central Bank of Russia has earlier included the provision of bitcoin services in the scope of suspicious transaction monitoring. The U.S. Securities and Exchange Commission (SEC) has banned the issue of unregistered shares in exchange for bitcoin, and unregistered online securities trading activities in virtual currency.
4. The main purposes are as follows:

1
2
3
4. 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
5. Avoid excessive speculation in the name of "virtual currency" for virtual commodities such as bitcoin, which will damage the public interest and the legal tender status of RMB.
5. Bitcoin can be regulated
however, it has not been fully and effectively regulated at present (as of March 6, 2019)
if we understand bitcoin as a kind of "currency", then it is equivalent to US dollars leaving the United States. Usually, after the US dollar leaves the United States, banks in other countries will help manage it. However, it is impossible to count the scattered us dollars that are neither in the United States nor in the hands of banks and other financial institutions. For example, in some areas of Africa where there are no banks, the US dollar is used
these scattered us dollars are equivalent to bitcoin
how to regulate these scattered us dollars
generally, in addition to controlling the issuance of US dollars, US dollar regulation also controls the circulation and usage ports. The Federal Reserve controls the number of new currencies issued each year according to the flow and damage of dollars abroad. At the same time, we should supervise the inflow and outflow of US dollars, so as to keep us dollars in an environment that can be roughly traced, so as to facilitate the issuers to count the total amount, so as to avoid excessive inflation or deflation
in fact, these scattered us dollars exist in some deregulated environments. Although they are out of control, they will not affect the overall economic situation
If anyone wants to influence the international economy through these scattered us dollars, then it must enter the existing regulatory system. In this way, these scattered dollars are regulated
for bitcoin, we can also learn from these forms of regulation
first of all, from the point of view of the issuing end, although the total number of bitcoin is now 21 million, it is also "set before" and cannot be changed
recently, it has been mentioned that the 21 million bitcoin limit should be abolished, which means that the issue of bitcoin is not stable. Therefore, it is necessary to control the issuance of bitcoin from the development end
you need to get inside the development side and become a core developer
Second, monitoring from the circulation link. In fact, this is the most difficult monitoring at present, because the blockchain is anonymous, the user is anonymous, and the receiver is anonymous
even though we can trace the circulation path of bitcoin by technical means (for example, we can know that a transaction is sent from a small house in the United States to a commercial building in Germany), it is only a drop in the bucket for tens of millions of users in the whole environment. How to trace and manage the overall transaction data is a huge problem
you can't know from the transaction data whether the user is engaged in illegal transactions
what should we do? Regulators have come up with a way to bind personal identity information to the user's real name, your exchange account number and bitcoin wallet address. But this is also a temporary solution, because it can only monitor the use of bitcoin in specific situations. An indivial can use multiple bitcoin wallet addresses. You don't know when he will apply for a new one
in terms of circulation, there is also a monitoring system to control the exchange channel between bitcoin and local legal currency. Banks in some regions do not provide financial services for users who exchange bitcoin for legal currency, and some countries and regions prohibit financial institutions from providing bitcoin and local legal currency exchange services
if users secretly exchange huge amounts of bitcoin, some clues can be found through the bank transfer records, so as to crack down on illegal acts in time. As for those who make little trouble, let him go
thirdly, restrict the use. This is relatively easy to achieve. For example, relevant laws have been issued to prohibit the use of bitcoin transactions. Although it's impossible to ban it completely, it's better than letting it run wild All over the world, it seems that what is forbidden is not completely forbidden
for example, before using bitcoin in public, you must use your real name, and you have to pay taxes to hold or use bitcoin
of course, it's OK for users not to do so, so it's better to use its assets in the dark
having said so much, now you know that bitcoin can be regulated, but it's not so well managed. Many measures have been taken, and it seems that they are not effectively regulated. Under what circumstances can bitcoin be effectively regulated? Users consciously report their holdings of bitcoin to the regulatory authorities. The regulatory authorities add some development functions to the bitcoin to achieve supervision, or they don't need to use it, so it doesn't matter at all
in fact, it can't be controlled so strictly, as long as it can't be controlled in the range of big waves. After all, there is light and dark, and there may be no gray space at all
new technology will surely have an advantage when it comes to living now.
6. The biggest reason for the rise in the price of the graphics card is mining, and the secondary reason is the cost of the graphics card. For example, there is a shortage of graphics memory and the supply exceeds the demand

warm tips: the above information is for reference only, without any suggestions
response time: October 29, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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7. It depends on your diagnosis certificate, what is written is what disease, some auxiliary examinations do not necessarily see the results
but also depends on the clinical diagnosis
some patients don't have to be treated in the emergency department when they are received in the emergency department, for example, some major trauma immediately enters the operating room. If in the emergency treatment, there must be emergency medical records, you can ask the doctor.
8. Regulators talk about the supervision of virtual currency again. Why should virtual currency be supervised< p> Recently, the regulatory authorities reiterated their views on virtual currency, and then strengthened the supervision of virtual currency. This argument has attracted a lot of people's attention on the Internet. For a long time, virtual currency has been repeatedly banned on the Internet, which has caused many governments to have a headache. For example, bitcoin, which has been popular on the Internet before, has been admired by many people, and many people spend their time on it; Mining & quot; In recent years, the infatuation for bitcoin has reached a fanatical level. Recently, I believe many people have heard of dogcoin. As a similar proct of blockchain, dogcoin is a kind of virtual currency like bitcoin, which has set off a huge wave for people's social life

In addition, virtual currency has led many people to inlge in it and reced their enthusiasm for life. Therefore, many people waste their time and it is very unwise to waste their time in this kind of virtual data. Therefore, we should spontaneously boycott the virtual currency and contribute to the maintenance of the world monetary system

9.

In order to defend the peso, which has been under great devaluation pressure since December last year, the Central Bank of Argentina raised interest rates three times in a row from April 27 to May 4, raising the benchmark interest rate from 27.25% to 40%

At present, Argentina has asked for financial support from the International Monetary Fund (IMF) to help curb the decline of the peso for five consecutive months. IMF president Lagarde said in a public statement in Washington on the 8th that the IMF and the Argentine government have started to work together to strengthen Argentina's economy, and these measures will be implemented in the short term

At the beginning of the 20th century, Argentina's economy once ranked among the top ten in the world. What's wrong with Argentina's economy today

Since December last year, the Argentine Peso has been under the pressure of devaluation, and the cumulative decline of the peso against the US dollar once reached more than 15%

in the face of the sudden sharp depreciation of the peso, in order to stabilize investors' confidence and the mood of domestic residents, the Central Bank of Argentina raised interest rates for three consecutive times in eight days: on April 27, it raised interest rates by 300 basis points, raising the benchmark interest rate from 27.25% to 30.25%; On May 3, the Central Bank of Argentina raised interest rates again by 300 basis points, and the benchmark interest rate has reached 33.25%; In order to curb the peso's decline in the foreign exchange market, the Central Bank of Argentina directly raised the benchmark interest rate to 40% on May 4

In line with the action of the central bank, the Argentine government has reced its fiscal deficit target from 3.2% of GDP to 2.7% this year. So far, the peso has a little breathing space in the foreign exchange market

Martin, chairman of Argentina E3 engineering company, told China first finance and economics that the fluctuation is the adjustment of the market exchange rate by the Central Bank of Argentina

he explained that when Argentina's president Mauricio Macri came to power at the end of 2015, Argentina's last government left an inflation rate of about 28%. Although the Macri government introced a series of measures to curb inflation, it had little effect, because the Macri government relied on borrowing and issuing excess currency to solve the problem, and the growth of the real economy was small. From 2017 to 2018, the interest rate of local currency short-term bonds of the central bank was about 26% - 28%. However, the exchange rate of Peso against the US dollar remained relatively stable, resulting in the lag of Peso exchange rate and arbitrage space for financial institutions. In addition, in April this year, the Afghan government began to levy a financial income tax ranging from 5% to 15% on foreign financial investors, which was also affected by the rise of US bond interest rate, As a result, a large number of funds came out at the end of April and the beginning of May after making profits, which led to the sharp fluctuation of Arab exchange rate market last week

Dr. Shi peiran of the Latin American Institute of the Chinese Academy of Social Sciences specifically analyzed the multiple factors of the peso exchange rate fluctuation to the first financial reporter

he believes that from the perspective of internal factors, Argentina's economy has shown a moderate recovery in recent years after the Macri government took power. After Macri came to power, he released the strict foreign exchange control of the former government and adopted a series of market-oriented measures. Therefore, since 2016, the international market has generally been optimistic about Argentina's economy, which is reflected in the relatively stable exchange rate of Peso against the US dollar and the rising price of Argentine government bonds in the international market

however, in January 2018, the Central Bank of Argentina raised the inflation target for 2018. Meanwhile, the implementation of the government budget in 2017 also shows that the target of recing expenditure and deficit of the Argentine government has not met the expectation, which is a smell of risk for investors

Shi peiran added that if it is other countries, the combination of the two will cause some degree of exchange rate fluctuations, but the scale is difficult to compare with Argentina. Because Argentina is famous for its currency devaluation, the large-scale currency crisis of the Argentine Peso has occurred more than once. At the same time, another bad reputation of Argentina lies in foreign exchange control. For example, ring the term of former president Christina, the free flow of foreign exchange in Argentina was a big problem

In terms of external factors, according to Shi peiran's analysis, the strength of the US dollar in recent years is a huge pressure on emerging countries. Therefore, the combination of internal and external factors has aroused the concern of international investors. The natural choice made by the market is to sell the peso in exchange for the US dollar. What is chain like is that once the Argentine Peso begins to depreciate on a large scale, it is difficult for the international market not to recall the peso crises of the 1980s and 1990s

At the same time, the world bank believes that Argentina's economic recovery is continuing. Argentina's economy deflated by 1.8% in 2016 and recovered in 2017 with a growth rate of 2.9%. At the same time, Argentina's basic deficit decreased from 4.3% of GDP in 2016 to 3.8% of GDP in 2017, but both were lower than the official fiscal target. The Argentine government plans to graally achieve a basic fiscal balance by 2021

According to Tang Jun, Argentina's economy grew slightly in 2017, which shows that many policies of Markley to stimulate economic growth have played a certain role. In 2018, the Argentine government will set its economic growth target at about 3%. China's one belt, one road initiative and its desire to move forward in 2017 will bring new opportunities for Argentina to visit Macri. However, Argentina's economy is also facing many problems, such as single economic structure, fragile financial system, high foreign debt, high government deficit and so on. There are still many negative factors affecting economic growth and social stability. Argentina's economic growth is still shrouded in an unknown shadow

as for the current economic performance of Argentina, Martin believes that Argentina adopts the semi floating exchange rate system under the intervention of the central bank, and the Central Bank of Argentina and the Ministry of finance have taken measures to significantly adjust the short-term interest rates to stabilize the foreign exchange market, so as to control the situation in the short term, open and operate the market with greater flexibility and volatility from the medium to normal period, and rece the possibility of similar fluctuations or greater crises

However, it will take some time to solve the deeper problems of the national real economy, such as the heavy tax burden, the reform of labor law, and how to improve the investment environment Martin said, "Argentina's economy is expected to maintain 2% growth this year, inflation rate is about 25%, government fiscal deficit is slightly reced, and trade deficit is about 30 billion US dollars."

Tang Jun also said that 2018 is Argentina's home diplomatic year, and the G20 will be held in Argentina. The government of marcori wants to take the opportunity to further promote reform and increase budget expenditure, while the financial deficit of the Argentine government continues to expand, coupled with the successive years of trade deficit, shortage of money, high foreign debt, and huge pressure on the financial system, As a result, since the beginning of this year, the peso's exchange rate against the US dollar has depreciated by more than 40% (from about 17:1 to the current 25:1), and there is a trend of further deterioration. Therefore, the Central Bank of Argentina has to take measures to start the peso defense war

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