Is there a limit on virtual currency trading

1. There is no specific provision, but it can be combined with the corresponding laws. For example, if it constitutes unjust enrichment, it can be returned. If it constitutes a crime, the amount involved is also calculated according to the value of real currency. Generally speaking, virtual currency transactions on the Internet are protected by law. But there is no specific provisions, we can refer to the real currency to protect their own law and rights.

2. There must be risks. Theoretically speaking, if the existence of network currency affects the demand for the central bank's liabilities, and then interferes with the central bank's open market operation, it will have an impact on a country's monetary policy and price stability. However, from a practical point of view, the premise of network currency affecting price stability includes the following three aspects:

(1) from the analysis of the impact on the amount of money, although it is difficult to analyze the extent to which the network currency scheme creates money in the case of lack of information

however, most of the network currency systems operate in the prepaid mode, that is, issuing network currency when the real currency is exchanged in and withdrawing the currency when the real currency is exchanged out, which has limited impact. In the famous network currency scheme, the money supply is stable and the supply is small, but we still need to be vigilant whether it can ensure that the money supply will maintain a stable level in the long run, and the impact of the change of exchange rate between network currency and real currency.

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. The loss of virtual currency rise and fall is borne by users themselves, and plain will not bear the corresponding responsibility
virtual currency is still a high-risk and high-yield investment proct in China. Central bank officials in the statement, the public at their own risk premise is now free to trade
the virtual currencies with good performance in the domestic market include Ruitai currency, bitcoin, thousand gold card and other digital currencies
there are risks in investment, so we should be cautious in purchasing currency.

5. There is no limit to the range of rise and fall.

6. The usury recognized by law refers to the interest rate which is more than 4 times of the bank's benchmark interest rate in the same period, that is, the interest rate level which is less than 4 times of the benchmark interest rate in the same period in case of legal disputes. The benchmark interest rate in the same period refers to the benchmark interest rate announced by the central bank. For one year, the benchmark interest rate is 6%, 4 times is 24%, that is, more than 24% is recognized by law as usury. The current benchmark interest rate was adjusted and implemented by the people's Bank of China on July 6, 2012. The types and annual interest rates are as follows: (1) short term loans of 6 months (inclusive) 5.6%; ② 6% from six months to one year (inclusive); ③ 1-3 years (inclusive) 6.15%; ④ 6.4% in three to five years; ⑤ 55% over five years.

7. The principal multiplied by the interest rate, and then multiplied by the time (year, month, day), the number is the number of interest. If the loan is 10000 yuan, the annual interest rate is 15%, and the time is one year, for example, the formula is 10000 yuan x 0.015x1 year = 150 yuan. If the annual interest rate exceeds 36%, it is usury.

8. If the interest rate of private lending is less than four times that of the bank, it can be protected by law. If the interest rate is higher than four times, the court will not support it.

9. It is suggested to apply for loans through bank channels. If you hold a savings card of China Merchants Bank, you can log in to the mobile bank of China Merchants Bank, and click "home → all → loans → I want to borrow money → good term loans" to try to apply for small loans
loan amount: the minimum is not less than 500 yuan and the maximum is 200000 yuan, but the specific amount is subject to the result displayed by the system after you pass the application
repayment method: repayment with equal principal and interest
loan term: it supports 3, 6, 12, 18 and 24 month installment
borrowing cost: the reference daily interest rate is 0.045%, which is subject to the actual display on the interface; There is no platform service charge.