Lawyer's Comments: The risk of opening a group of speculative coins is high, investors are advised to be deceived by high-yield appearances.

Recently, the "AK with a single speculative coin" incident caused a hot discussion on Weibo, and many well-known big V vowed AK.

It is understood that AK (microblogging name: AlbertTheKing) claims to be a very talented trader, with 6 years of trading experience, "after the 20,000 yuan deposit, has been 200 million yuan." With the high cost of 3BTC/month for users, in this fast-changing market, no matter whether the bulls and bears can be saved, in just a few years, the net worth is already ten million.

The focus of this controversy is many, such as: no brain money is anti-intellectual behavior, superior ability to make money but never record in the sun, no obvious line of sight prediction, no need to pay for high-paying groups, use of the order Instead of setting up a fund, letting group members fill out their personal details in detail, but they buy other people's Weibo accounts.

This seemingly accidental "with a single speculative coin" incident precisely reflects the huge profit of the legally blank land of the currency circle. In fact, the lack of supervision has also made the currency circle a fertile ground for breeding pyramids and funds, which has brought extremely bad effects to the development of the blockchain industry.

In this regard, Babbitt specifically consulted the lawyers of Beijing Jincheng Tongda (Shanghai) Law Firm Zhang Wei and another lawyer who did not want to be named, and talked about the matter.

Suspected of fraud or manipulation of the market

AK claimed to have done a six-year transaction in the currency circle and 200 million from 20,000 yuan. Some people think that this is because he relies on harvesting leek and opening a toll group, and his technical ability is very general.

WeChat screenshot _20190731233023

(Image from AK Weibo article " Can bitcoin rise forever? ")

In this regard, Zhang Jin, a lawyer of Beijing Jincheng Tongda (Shanghai) Law Firm, believes that AK really does 200 million from 20,000 as he said, and there may be suspicions of fabrication or exaggeration. If so, it is suspected of fraud. If you work with the trader at the same time to pull the market, it is suspected of manipulating the market.

Buy and sell Weibo account

(Image from AK Weibo )

At the same time, for the statement that AK claims that its qq number and Weibo are bought, Zhang Wei believes that it is not illegal for Weibo to purchase from others. What needs attention, whether he uses some of the indicators such as the number of fans of Weibo to express or imply his investment and related capabilities, if it may constitute fraud .

Why are online condemnations and defenders?

Babbitt noted that although there were many dissatisfaction with AK behavior, most of them only discussed on Weibo, and few victims resorted to the law.

In this regard, Zhang Wei believes that to resort to the law, the first must be the parties, but also need to have facts and legal basis, sorting out the evidence, there will be costs. At the same time, the victims themselves have certain responsibilities.

Babbitt contacted the blogger PantheaP, which had previously released the AK incident, through QQ. The other party said that he is currently preparing to report the case. For confidentiality reasons, the details of the report are not convenient.

There is no compliance fund at all in the currency circle?

AK is charging a huge amount of money, but not using open APIs or setting up closed funds to help group friends profit, is also a focus of controversy.

There is no compliance fund in the currency circle?

(Image from AK Weibo)

Zhang Wei believes that the establishment of the API has technically certain security risks, and investors may directly blame the risk on himself.

In addition, the establishment of a fund requires a license, and if there is no corresponding qualification, it will constitute an illegal fundraiser.

The funds established by the current currency circle cannot be generalized. Some equity funds may be legal, some are funds set up abroad. The fund raising activities in these countries may be suspected of illegal activities. Some of the funds are not owned by the funds. Some of them are investment funds. According to its specific situation, it is analyzed whether it constitutes illegal recruitment or fraud .

Is it illegal to charge a single coin?

At present, the currency circle provides online services through QQ and WeChat group, and the behavior of collecting group fees is more common.

Zhang Wei believes that if it is voluntary, there is no act of fictitious and manipulating the market, etc., the fees and charges of both parties are civil acts , depending on whether there is a civil breach of contract liability. As a lawyer, it is not recommended for users to participate in the paid speculation group. If you must participate, you need to think independently, and at the same time do a good job of accumulating and collecting evidence, promptly asking and clarifying relevant details, reflecting and resolving related issues, and laying the foundation for safeguarding your own rights and interests.

Another lawyer who did not want to be named further analyzed that it needs to draw attention from the following three points:

First of all, the regulatory authorities are wary of the legal risk warnings of the act of speculating.

The "Notice on the Prevention of Bitcoin Risk" and the "Announcement on Preventing the Risk of Subsidy Issuance Financing" do not agree with the monetary attributes of virtual currency and digital tokens. The "Announcement on Preventing the Risk of Subsidy Issuance Financing" also proposes that the issuance of tokens is a so-called "virtual currency" such as Bitcoin and Ethereum, which is essentially a kind of financing. Unauthorized illegal public financing is suspected of illegally selling tokens, illegally issuing securities, and illegal criminal activities such as illegal fund-raising, financial fraud, and pyramid schemes.

Secondly, there are many legal risks involved in providing group counseling and information services.

1) When the content of the service is false, the service subject itself does not have the ability to provide the services and qualifications promised, but only takes the opportunity to collect money and is suspected of fraud . According to Article 266 of the Criminal Law, if the amount of public and private property is defrauded, if the amount is large, it shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or control, and shall be punished with a fine or a single penalty; if the amount is huge or there are other serious circumstances, it shall be for a period of three years or more and ten years or less. Imprisonment and fines; if the amount is particularly large or has other particularly serious circumstances, it shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and fine or confiscation of property. Unless otherwise provided in this Law, in accordance with the provisions.

2) Using the speculative coin to collect the head fee and develop the downline, suspected of organizing and leading the pyramid scheme . In accordance with Article 224 of the Criminal Law, organizations and leaders shall, in the name of marketing activities such as selling goods and providing services, require participants to obtain eligibility for membership by paying fees or purchasing goods and services, and form a hierarchy in a certain order, directly or indirectly. The number of development personnel as a basis for remuneration or rebate, to induce and coerce participants to continue to develop others to participate, to defraud property, to disrupt the economic and social order of pyramid schemes, to imprisonment for five years or less, and to impose fines; More than five years in prison and fine.

3) Other legal red lines that are easy to trigger . At present, the rumors about AK are seen in the media, but because the facts have not been officially confirmed, based on rumors, the legal risks triggered by the opening of the group are easily analyzed. Does the AK violate the red line and whether there are violations? Behavior, depending on the facts of the case.

Finally, in recent years, speculative speculation related to virtual currency has prevailed, and the price of digital currency has skyrocketed and plunged. It can be said that it is a high risk gathering place and seriously disrupts economic, financial and social order. Occasionally buying and selling digital currencies, such as trading currencies as bitcoin, buying and selling "specific virtual goods", the law is tolerant. However, many people use the guise of "virtual currency" to conduct illegal activities such as pyramid schemes and illegal fund-raising. Investors must enhance their ability to recognize and not be lucky.