Passing the cryptography, the legalization of the industry is not far behind?

Interpretation today

The 14th meeting of the Standing Committee of the 13th National People's Congress voted on the afternoon of October 26th to pass the cryptography, which will take effect on January 1, 2020.

The cryptography is aimed at standardizing the application and management of passwords, promoting the development of the password business, ensuring network and information security, and improving the scientific, standardized and legalized level of password management. It is a comprehensive and basic law in the field of passwords in China.

The first draft of the cryptographic law divides the password into a core password, a normal password, and a commercial password, and classifies and manages the password.

The core password and the common password belong to the state secret. The highest level of the core password protection information is the top secret level, and the highest level of the ordinary password protection information is the secret level. Commercial passwords are used to protect information that is not a national secret.

There are two main functions of a password: one is encryption protection and the other is security authentication. Li Zhaozong, director of the National Cryptographic Administration, said: "Passwords have played an irreplaceable role in all historical periods in China. The cryptography work faces many new opportunities and challenges, shoulders more arduous guarantees and management tasks, and develops a password. Comprehensive and basic laws in the field are necessary."

After the news of the cryptographic voting was released, the “cryptography method” went to the microblogging hot search list, and the ranking rose to the 27th place.

Coin founder Zhao Changpeng today tweeted the CoinDesk article "The Chinese government passed the cryptography on Saturday, which may further promote the country's ambitions for the blockchain" and said: This is big news! The most populous country in the world, and one of the countries with the highest GDP growth rate in recent years, has just taken a big step in the right direction. What will your country do? Is it following or is it behind?

In addition, some media said that in recent days, a loan dispute caused by BTC pledge has been filed in the People's Court of Wuchang District, Wuhan City, Hubei Province. The case number is (2019) E0106, the beginning of the Republic of China, No. 17932. According to the indictment, the defendant pledged BTC to borrow money from the plaintiff. In the big cycle of bitcoin falling in 2018, the BTC fell sharply, and the plaintiff took mandatory liquidation measures, but still caused some losses. The defendant did not recognize the loan and loan relationship and constituted a substantial breach of contract. The lawyer of the case, Shanghai Shenhao Law Firm Sun Jun, said: This is the first case in China, and the BTC financial property will be recognized for the first time in China.

A BTC arbitration case occurred in November 2018, recognizing the property attributes of BTC. The arbitral tribunal considered that the agreement in the Equity Transfer Agreement was a BTC restitution obligation and was not illegally issued securities and illegal criminal activities such as illegal fund raising, financial fraud, and pyramid schemes. Moreover, there are currently no laws and regulations that prohibit parties from holding BTCs or conducting private transactions with BTCs. Therefore, the case involved in the Equity Transfer Agreement did not violate laws and regulations, and the parties should perform their contractual obligations. The "Equity Transfer Agreement" in the case was unanimously agreed by the parties and was legal and valid. Moreover, BTC can be artificially controlled and controlled, with property attributes and economic value. The respondent not only failed to perform its payment obligations according to the contract, but also constituted a breach of contract. After the breach of contract, the BTC transaction was illegal, and its value or price could not be measured as a defense for which it should not be liable for breach of contract, contrary to the principle of good faith. Therefore, according to Article 107 of the Contract Law, the applicant should be compensated for the breach of contract.

But in another case at the end of 2018, the court stated that the virtual pass investment transaction was not protected by law.

Market research

Overall view

BTC continued to pull back yesterday, but did not fall below 8800USDT, stopped falling at 8900USDT, the breakthrough is effective, and it is expected to continue to attack after consolidation. The main circulation certificate has generally not broken through the previous shock range, and still needs to wait for the next signal of BTC. The policy has a good probability that the breakthrough time node has been advanced. The current stable investors will focus on 8800USDT.

In December 2018, we clearly pointed out BNB's investment opportunities in the bear market, and the first to propose that the BNB in ​​the bull market will enjoy Davis double-click (hedging: the platform pass the bear market profit key – the certificate valuation series) 2) In October 2018, we will point out the price cycle of BTC and predict the bottoming time to be around May 2019 ([Classic update reappears] three laws and applications of BTC Bulls and Bears cycle – Freezing Point Outlook A); In April 2018, when the remaining temperature of the bull market had not been exhausted, we indicated that it was a rebound rather than a bull market (whether the bull market is coming? It is the four reasons for the rebound rather than the bull market).

The BTC daily-level moving average system formed a golden cross. Although it was out of the long shadow line yesterday, if it does not break the support today, the high probability has effectively broken through the previous shock range, and it is expected to continue the upside after the consolidation. The support level is 8900USDT and the pressure level is 10350USDT.

ETH links BTC. The support level is 175 USDT and the pressure level is 197 USDT.

EOS links BTC. The support level is 3.0 USDT and the pressure level is 3.6 USDT.

risk warning

The price of digital pass is fluctuating violently. Investment digital pass is a high-risk investment behavior. Investors should reasonably assess their investment ability and risk tolerance, use leverage carefully, strictly control risks, and invest carefully. Investors are advised to keep in mind that investments are risky and require caution when entering the market.


Personal opinions are for reference only. The analysis in the text does not constitute a recommendation for trading, and the profit and loss is self-sufficient. Welcome to reprint, but need to indicate the source.

Source: Coins

The full-price analysis team of the coin has nearly 15 years of A-shares and overseas markets, investment experience in futures, options and certificates. The past investment performance is excellent. BTC trading started in 13 years, mining machines in 14 years, and Crowdsale in 16 years. The main analyst graduated from Duke University, Fudan University, Shanghai University of Finance and Economics and other famous schools, obtained a doctoral or master's degree, worked in Guotai Junan, Southern Fund, Oriental Fortune Network and Founder Securities, engaged in investment research.

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