Economic Daily: Vigilance on the resurgence of virtual currency trading

On January 3rd, the Economic Daily published an article "Be alert to the resurgence of virtual currency trading". According to the article, the Business Management Department of the People's Bank of China, the Beijing Banking and Insurance Regulatory Bureau, the Beijing Municipal Financial Supervision and Administration Bureau, and the Beijing Securities Regulatory Bureau jointly issued a reminder to prevent risks in virtual currency trading activities. After investigation, some virtual currency trading platforms are currently providing virtual currency trading services to domestic residents, and even launched projects such as "zero interest lending" and "dual currency financing" through digital currency mortgages. "This is a serious violation of the" Announcement on Preventing the Financing of Token Issuance Financing "issued by the seven ministries and commissions of the People's Bank of China in September 2017. It is suspected of engaging in illegal financial activities and disrupting the economic and financial order. . The person in charge said that investors need to accurately understand the nature of the financing activities of the token issuance. The so-called "token issuance and financing" is essentially an unlawful illegal public financing. It is suspected of illegally selling token tickets, illegally issuing securities, and illegal fund-raising, financial fraud, and pyramid schemes. Relevant persons in charge of the Beijing Banking and Insurance Regulatory Bureau said that we have maintained high regulatory oversight of virtual currency transactions, ICOs, and disguised ICOs in various financial management departments, network telecommunications management departments, and public security departments within the jurisdiction. Blocking websites, criminal filing and other means to crack down.