Babbitt column | Xiao Wei: Three cities "virtual currency" risk tips, what is the deep meaning?

Author: Xiao Sa

Beijing, Shanghai, and Shenzhen have risk warnings about the illegal activities of “preventing virtual currency”. The industry has speculated whether the event will be unified throughout the country; how will it affect the price of the currency; what should the project party who wants to do well in the currency? ? Yesterday, when I was teaching at a certain road, some students also asked questions and answered them together:

Article context:

1. The focus of the investigation is on domestic propaganda and overseas ICO promotion and sales in the Mainland;

• Radio and Television Administration Du Baichuan: Smart society is approaching, 5G and blockchain are supporting technologies
• The Shenzhen Municipal Bureau of Local Financial Supervision has detected 39 illegal enterprises suspected of carrying out virtual currency activities.
• CITIC Bank Xuanqi: Practice and Future of Blockchain Technology in Financial Scenes

2. Or national unified action to prevent ordinary people from blindly quilt;

3. The Internet Financial Risk Special Remediation Team is not a virtual currency regulatory authority.

Check out, clear and clear

With the development of blockchain technology, Libra's influence continued, the mining machine business was stable (Jianan Technology was listed in the US last night), and the chain of coins was alive. However, China's legal definition of domestic currency has not changed in the slightest . If ICO or disguised ICO is carried out in China, China's law will recognize it as: illegal public financing, suspected of violating the law.

Here is a clarification of a misunderstanding. It is not only that the funds will be hit; nor is it that the illegal currency (including foreign currency) is safe, and the ICO's behavior of raising bitcoin Ethancoin is also illegal .

When a friend of the coin circle laughs at the fund, it is actually a fifty-step laugh. From the current situation, the legal definition of ICO will not change in the next 3-5 years unless there are special variables.

Regarding the "promotion", "drainage" and "agent sales" of overseas ICOs in China, China has always adhered to a serious attitude . After September 4, 2017, a large number of cryptocurrency exchanges moved overseas and sought the legal status of the local country overseas, but the legal business in other countries is not necessarily legal in our country (please think differently about 嫖娼) .

However, many exchanges that have moved out of China have a large number of Chinese people (no need to deny), although the surface exchanges use medium-level KPI technology to exclude Chinese and Americans from purchasing virtual currency, but in reality they continue to Enticing the Chinese and American people to join the "big money speculation."

This reminds me of cigarette advertisements. I dare not know how to make a cigarette advertisement. Instead, I create a limitless association by creating news and publicity groups (other sections), which induces consumers to get caught up in it and profit from it.

Unified national action

The industry is also concerned about a detail. The risk warnings of the “virtual currency” in the three cities come from the “Internet Finance Remediation Leading Group” in each jurisdiction. It can be seen that for similar chaos, the national level may be alert, because Considering the early fight , before taking a new wave of money-buying frenzy, take the lead in cracking down on the risk and prevent a large number of financial cases (P2P). Further thinking, if it is a national unified action, the next step will be similar to “risk tips” for the provinces and cities that still exist and are partially active in the southeast coastal areas and Hunan Hubei.

At the same time, we believe that "the law has teeth" . After the risk warning, if the project party or personnel who dare to commit crimes will be severely dealt with by the public security organs.

According to our experience in handling cases, the crime of fraud in Article 266 of the Criminal Law will become the main crime. Especially for the project party's project progress is slow and inefficient, and the hacker resells the currency and seeks high profits, it is easy to cause criminal risk of fraud.

For the cryptocurrency exchange, the crime of illegal business of Article 225 of the Criminal Law will still be used for disposal. If there is manipulation of the market (especially by the quantitative team), more stringent fraud will be used. Disposal, does not rule out the combination of several crimes, the maximum sentence can be up to life imprisonment.

Don't want to fantasize about Fuzhengli Archway

Every time I heard a friend of the coin circle asked: What new attitude has the regulator recently had? There is a sigh of sorrow, and there is a regulatory body for illegal business. The Internet Finance Special Remediation Group is an organ that governs the Internet financial chaos , rather than a supervisory authority that promotes the healthy development of an industry.

Compared with the Internet finance, the main online loan P2P industry, it has the supervision and management of the “Interim Management Measures for Online Loans” and the Online Insurance Department of the China Insurance Regulatory Commission; while the virtual currency industry does not have normative legal documents and regulatory agencies to promote and Supervision. For non-digital currency and Q coins, the virtual currency that can be traded on the exchange, China's law gives a "negative evaluation . "

In 2013, Bitcoin recognized it as “a specific virtual commodity”. In judicial practice, it protects the “property attribute” of the same currency as the bitcoin; but for the currency other than the two mainstream virtual currency, judicial practice It is not really considered as "property" but rather as "a bunch of data" , and it is doubtful whether 126 numbers can be combined into valuable commodities.

Therefore, in the past year, the crimes in the currency-related cases have begun to change, and the crime of fraudulent crimes to illegally acquire computer information system data has evolved. In the future, as society’s perception of the virtual economy changes, it may also obtain illegal computer information. System data crimes then return to fraud (the reason is that the virtual currency actually carries the wealth accumulation function).

The above is today's sharing, grateful readers!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!