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Virtual currency in Japan

Publish: 2021-03-22 15:47:43
1.

virtual currency is the currency used for electronic circulation. Now the scope of virtual currency is very large, including q-coin, bitcoin and so on. With the development of digital currency, virtual currency is becoming more and more abundant, which may become the mainstream in the future. For example, BTC, EOS, bcbot and so on are not only virtual currencies, but also algorithms, landing projects and technologies

virtual currency is mainly issued by online game service providers to purchase game props, such as equipment, clothing, etc. But at present, the use of virtual currency has gone far beyond this category. Virtual currency can be used to buy game cards, physical objects and download services of some movies and software

extended data:

real risk

as the proct of e-commerce, virtual currency has begun to play an increasingly important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers

fraud

the private transaction of online virtual currency has realized the two-way circulation between virtual currency and RMB to a certain extent. The activity of these traders is to buy all kinds of virtual currencies and procts at a low price, and then sell them at a high price to earn profits. With the increase of such transactions, there are even virtual mints. In addition to the virtual currency provided by the main company, there are also some people who specialize in "virtual coin making" to obtain virtual currency by playing games and then resell it to other players

Taking Wenzhou as an example, there are about seven or eight such "virtual mints" with four or five hundred practitioners. This not only creates a bubble for the price of the virtual currency itself, but also causes trouble for the normal sale of the issuing company. It also provides a platform for selling and collecting money and money laundering for various cyber crimes. p>

impact system

in modern financial system, the issuers of money are generally central banks, which are responsible for the management and supervision of money operation. As the equivalent exchange goods used to replace the real currency circulation on the Internet, the virtual currency on the Internet is essentially the same as the real currency. The difference is that the issuers are no longer central banks, but Internet companies

if the development of virtual currency makes it form a unified market, each company can exchange with each other, or virtual currency is integrated and unified, and all of them are based on the same standard and price, then in a sense, virtual currency is currency, which is likely to form a threat impact on the traditional financial system or economic operation

reference: network virtual currency

2.

It can be divided into decentralized trading platform and centralized trading platform:

decentralized trading platform:

both have their own advantages and disadvantages, and they should be selected according to their own needs< br />

3. Don't be fooled. China does not recognize the legitimacy of any virtual currency.
4. In the notice on preventing bitcoin risk issued by the central bank and other five ministries and commissions at the end of 2013, bitcoin is clearly defined as a special Internet commodity, and people can buy and sell freely at their own risk, denying its monetary attribute. All financial institutions are not allowed to provide bitcoin related services. Bitcoin related websites must be put on record and require users to carry out real name authentication. Zhou Xiaochuan, central bank governor, said in an interview that bitcoin is a tradable asset like a stamp

in a word, virtual currency represented by bitcoin is legal in China, but the government takes a cold attitude towards virtual currency, which is neither positive nor negative. Most of the major countries in the world also adopt a cold attitude towards virtual currency

since 2015, the popular virtual currencies are bitcoin, Laite coin, Fuyuan coin, doggy coin, reborn coin and so on

it is possible, but at present, the government has not banned it

bitcoin and other virtual currencies exist legally in China. In the 2013 bitcoin risk notice, the central bank and other five ministries and commissions clearly defined bitcoin as a special Internet commodity. People can buy and sell it freely at their own risk. Financial institutions do not have to provide bitcoin related services, denying its monetary attribute. Zhou Xiaochuan, the governor of the central bank, compares bitcoin to a tradable asset like a stamp< Most of the major countries in the world take a cold attitude towards virtual currency. There are several possibilities for countries to ban virtual currency:

1
2. The well-known weaknesses and defects of virtual currency can not be overcome in a certain period of time
3. The government can't stand the use of virtual currency in money laundering and other illegal activities

since 2013, the popular virtual currencies are bitcoin, Fuyuan coin, Laite coin, doggy coin, Ruibo coin, Yuanbao coin and so on<

Zhou Xiaochuan, governor of the central bank, said at the Boao Forum for Asia that virtual currency is not a currency approved by the central bank and can not be banned. Since digital currency is not the currency initiated and approved by the central bank, it can not be banned. Digital currency belongs to digital assets, which can be freely traded between indivials. Therefore, digital currency is not MLM, not capital disk, but a kind of financial investment

in fact, the central bank has been studying digital currency for a long time. From the perspective of historical development trend, money has always evolved with the development of technological progress and economic activities. From the early physical money, commodity money to the later credit money, it is a natural choice to adapt to the development of human commercial society. As the currency of the previous generation, paper money has low technology content. From the perspective of safety and cost, it is the general trend to be replaced by new technology and new procts. In particular, with the development of the Internet and the great changes in payment methods all over the world, the establishment of digital currency issuance and circulation system is very necessary for the construction of financial infrastructure and the promotion of economic quality, efficiency and upgrading

does China recognize virtual currency_****** In the notice on bitcoin risk prevention issued by the central bank and other five ministries and commissions at the end of 2013, bitcoin was clearly defined as a special Internet commodity. People can buy and sell bitcoin freely at their own risk, denying its monetary attribute. Financial institutions are not allowed to provide services related to bitcoin, and bitcoin related websites must be put on record, In a word, the virtual currency represented by bitcoin is legal in China, but the government takes a cold attitude towards it, Most of the major countries in the world also adopt a cold attitude towards virtual currency. Since 2015, the popular virtual currencies include bitcoin, Wright coin, Fuyuan coin, doggy coin, Ruibo coin, etc.

Why do not countries ban virtual currency; In other words, what is the connection and difference between the value represented by virtual currency and the value represented by general currency? 3. In view of the depth of the background of the problem, we need to stand higher in the starting point of the research. Currency is a problem in the category of modernity, The problem of virtual currency is the problem of postmodernism. They do not share the same basic paradigm. It is the difference of paradigm, not virtual phenomenon, that leads to the difference between them.

why does China not stop virtual currency_****** As a new thing, virtual currency has its progressive side. One of China's attitudes towards new things is that the law does not prohibit it. However, if virtual currency poses a threat to the existing financial system, the government will take action, What follows is the public...

which countries recognize the legitimacy of virtual currency_****** At present, Japan has recognized bitcoin as legal

is virtual currency recognized by the state_****** No, because it involves money laundering, easy to crash and other factors. Although bitcoin, the most famous virtual currency, can not be said to be suppressed, there are very few transactions between physical objects and virtual currency abroad, and its prospect still remains to be seen, The pure pyramid structure will not be recognized by the state.

is there any policy in China to prohibit the trading of virtual currency****** At the end of 2013, the central bank and other five ministries and commissions jointly issued a bitcoin risk notice, in which bitcoin is clearly defined as a special Internet commodity, and people can buy and sell freely at their own risk, denying its monetary attribute, In an interview with the Boao Forum, President Yang Xiaochuan compared bitcoin to a tradable asset like a stamp, and the central bank has no right to ban it. Since 2013, popular virtual currencies include bitcoin, Leyte, Fuyuan, doggy, etc Is China's virtual currency legal_****** Virtual currency can trade bitcoin, Leyte and ether on chinacoin.com.

is virtual currency illegal in China_****** Virtual currency exists legally in China, but it is illegal to engage in illegal activities by using virtual currency. The notice on preventing bitcoin risks issued by the people's Bank of China and other five ministries and commissions defines the nature of bitcoin, believing that bitcoin is not issued by the monetary authority and has no monetary attributes such as legal compensation and compulsion, Not really...

will China ban all virtual currency commercial transactions? Will virtual currency be banned_****** How to buy and sell virtual currency after China forbids virtual currency trading

how does the state treat virtual currency in 2017****** At present, there is no official recognition of the value of virtual currency in China, but only in some areas suspected of causing actual harm to society, some recognize its existence value
5.

virtual currency and electronic currency are not the same concept

the definition of e-money is to convert a certain amount of cash or deposit from the issuer and obtain data representing the same amount. By using some electronic methods, the data can be directly transferred to the payment object, so as to pay off the debt. E-money means that consumers pay traditional money to issuers of e-money, and issuers store legal money of equal value with traditional money in electronic devices held by consumers

electronic currency is the electronization of the legal tender, including our common bank cards, Internet banking, electronic cash, etc., as well as the third party payment developed in recent years, such as Alipay, fortune paid and so on. No matter what form these electronic currencies are and through which institutions they circulate, their original source is the legal money issued by the central bank

but virtual currency is the electronization of illegal currency, and its original issuer is not the central bank. For example, Tencent Q currency and other game currency, such virtual currency is mainly limited to circulation in a specific virtual environment. After the emergence of bitcoin, through the blockchain technology to better solve the problem of decentralization, distrust, to achieve global circulation, is sought after in the world. Electronic currency and virtual currency are collectively referred to as digital currency

6. 1. BTC: digital gold
2. Eth: smart contract and e-cash
3. BCH: Clone of bitcoin
4. XRP: enterprise transfer network
5. LTC: faster version of bitcoin
6. Dash: Clone of bitcoin with stronger privacy
7. Neo: Chinese version of Ethereum
8. NEM: Xinjing movement digital assets
9. XmR: anonymous digital cash
10 Etc: Ethereum clone
11, iota: Internet of things transfer
12, qtum: smart contract
13, OMG: banking, remittance, exchange
14, Zec: anonymous digital cash
15, BCC: Madoff like investment fund
16, lisk: distributed app written in Java
17, ADA: layered digital cash and smart contract
18, tether: US $1
19 XLM: IOU of digital cash
20, EOS: distributed app on webassembly
21, HSR: blockchain switch
22, waves: distributed exchange and crowdfunding
23, stratis: distributed app in C language
24, KMD: distributed ICO
25, ark: blockchain switch
26, ETN: cloned Monroe coin
27, BCN: anonymous digital cash
28 Steem: reddit voting with token
29, ardr: can generate the master chain of blockchain
30, BNB: compensate the transaction fee of coin security
31, augur: distributed forecast market
32, ppt: Bill financial system of blockchain
33, DCR: bitcoin with independent management mechanism
34, pay: digital currency payment card
35, Maid: rent hard disk space
36 Bitcoin disk: Clone XZC
37, BTS: distributed exchange
38, GNT: renting computer computing power
39, pivx: Clone dash without inflation
40, gas: payment of Neo transfer fee
41, TRX: payment within app
42, VTC: Clone bitcoin
43, Mona: Japanese dogcoin
44, FCT: distributed data record
45 Bat: distributed advertising network
46, salt: digital currency based mortgage network
47, KNC: distributed exchange
48, Doge: cute bitcoin clone
49, DGD: Gold digital monetization managed by the company
50, WTC: Internet of things blockchain
51, jiuzhuang bcbot
7.

Japan is also the first country in the world to legislate on virtual currency. Just in April last year, Japan's "change of capital payment law" was formally established. Virtual currency is defined as having the function of currency and can be used for monetary payment. Moreover, some time ago, the tycoons of the domestic currency circle also went to Japan one after another to learn from Japan

Finally, the popularity of virtual currency in Japan is also the intentional guidance of the Japanese government. The emergence of virtual currency gives the Japanese government a new "future". The Japanese government hopes to establish a monetary system independent of the U.S. regulation through virtual currency, so as to revive its so-called great power status

however, we should also see that Japan's too loose virtual monetary environment has also led to many negative problems. For example, the frequent theft of virtual currency makes the Japanese government have to intervene in the asset security of the virtual currency market. As a result, Japan has strengthened the supervision of virtual currency, and the virtual currency market has become a bit quiet - exchanges such as hotcoin and BIGone have even given up Japanese language services

8. In 2017, the financial department of Japan officially issued the digital currency exchange operation license to the first batch of applicants. Japan has established regulations on the supervision of digital currency dealers, and has made clear the operational guidelines for digital currency dealers
the FSA said that it would put Japan's digital currency exchange under a comprehensive regulatory framework, including monitoring the internal system of the exchange, checking the customer asset protection mechanism, and possible on-site inspection. At the same time, the FSA requires digital currency exchanges including bitcoin to implement a more stringent KYC policy than at present. Exchanges must begin to verify the identity of account users, keep transaction records, and report suspicious transactions to regulators
the conditions for the registration and establishment of Japanese digital currency dealers:
the establishment of a Japanese corporate company
leasing Japanese office
three Japanese employees are employed, one of whom is a director of a Japanese company
Japanese companies open bank to company accounts
there is a normal trading system (Japanese version is not required)
provide KYC information (specifically prepare the government information list)
the services include company registration before obtaining the license, assistance in leasing office space, assistance in recruitment of company employees, preparation of audit reports in cooperation with accounting firms, AML and KYC reports, business plans, all compliance documents to be submitted to FSA prepared with Japanese law firms, and answering all questions raised by FSA
in the process of obtaining a digital currency dealer license and in the process of future operation, traders must employ at least three employees, at least one of whom has a digital currency or bitcoin background or financial background
follow up maintenance: first, ensure the normal operation of the Japanese office and the daily work system of employees. Annual financial and audit reports should be submitted to the financial department of Japan every year. The contents of the reports are large, including the transaction details of virtual currency, the number of customers, the number of traders, the handling fees, the amount of customers' funds, etc. After obtaining the license, all the operation related expenses need to be paid by the dealer.
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