Strictly fight virtual currency transactions, Beijing arrests many people, read policies and grasp the wind direction

Yesterday was a key time node.

The rankings of the North, Shanghai, Shenzhen and Hangzhou ended, and the attitudes toward virtual currency were further clear, and the price of the currency fell.

Looking at the bottom or watching? Do not look at the price, but look at the trend for judgment. The price is always relative. You have seen 100,000 bitcoins, you will think that the price of 50,000 is very low now; but when you see 30,000+ bitcoin, you probably won't think so.

Yesterday, the most noteworthy is the notice from Shanghai. After reading Shanghai, and then going to Shenzhen, Beijing, and Hangzhou, you will understand what happened at the bottom, what will happen, and you can grasp the risk of the next step to a certain extent. Where is the opportunity?

Yesterday (November 22) afternoon, Shanghai issued a notice clearly stating that “the centralized risk management of virtual currency trading risks should be carried out, and the problem enterprises should be ordered to immediately rectify and withdraw.”

(Figure 1)

The notice made a clear response to the illusion of the former currency circle. There are many points worthy of attention. I talk about three aspects:

First, clarify which actions involve crime

Original: Virtual currency-related hype (such as ICO, IFO, IEO, IMO, and STO, etc.) is refurbished and speculative, …, which is essentially an unauthorized illegal public financing, suspected of illegally selling tokens, illegal Issuing securities and illegal crimes, financial fraud, pyramid schemes, etc.

Analysis: Further legislation does not have to wait, and can be directly convicted.

The main body of conviction is the exchange, and the behaviors are ICO, IFO, IEO, IMO and STO.

However, it should be noted that not all of these acts are crimes, mainly depending on whether specific criminal acts are involved.

For example, some websites use the data to pull the dish together with the project side, and use the real currency to cut the leeks, which involves financial fraud; some of the bitcoin raised may involve illegal fundraising (good for bitcoin); some are purely speculative, grouping money May involve pyramid schemes.

Synchronizing a Beijing news is more helpful in interpreting:

On November 22, the Beijing police announced that they had "broken an illegal digital currency exchange fraud case and arrested dozens of suspects."

From the investigation in October, to the various rumors of the exchange, to the end of November as a crime, can be said to be vigorous and vigorous. This kind of lightning-like investigation can make us feel the determination of the upper level to a certain extent.

It is worth noting that there are still people who have fantasies that BISS is only because it involves US stocks, so other exchanges are not necessarily the same.

In fact, it is not clear that the notice of Shanghai will be understood. The circumstances of the suspected crime have already been clearly understood. Is it necessary to lie to yourself?

Second, clarify how to supervise the next step

Original: Continuous monitoring of the virtual currency business activities within the jurisdiction, once found to be disposed of immediately, play early and fight small, prevent problems before they happen.

Analysis: How to monitor the monitoring of virtual currency business activities? It is more clear to interpret the news in Shenzhen.

"On November 22, the Shenzhen Municipal Bureau of Local Financial Supervision has passed the Lingbi system to detect 39 illegal enterprises suspected of carrying out virtual currency."

What is Lingbi? The Lingbi was developed by the Tencent Security Anti-fraud Laboratory and later launched in cooperation with the Shenzhen Financial Supervision Bureau. The platform can effectively warn against illegal fundraising and stakeholder financial risks.

On July 2, 2018, it was officially launched. It started from the four directions of “artificial intelligence-based platform identification, multi-dimensional information association based on data mining, platform risk index calculation based on knowledge map, and abnormal size warning based on the number of stakeholders”. Comprehensive monitoring of active financial platforms on the Internet.

During the trial operation last year, the platform has scanned more than 250,000 enterprises engaged in financial business in Shenzhen, and made a key analysis of 11,354 of them, identified 790 venture companies, and 19 of them were alerted and handed over.

In the next step, the OTC deposits and withdrawals related to virtual currency transactions should be more cautious, and supervision and strikes will be more stringent.

Currently, when Alipay transfers, don't say remarks, the user name will have the exchange name similar to the transaction will be canceled.

There is a spirit in Shenzhen, and there will be “Northern Ming” in other places.

In China, there are no problems that cannot be done; only problems that cannot be done.

There is a microblogging big V said: "This is not an official document, but a notice." Just like the prohibition of urination announcements, it is not a big deal, everything is still the same."

I can only say that this kind of thinking may have misunderstandings about the application of documents. Sometimes the shorter the news and the bigger the things; the less formal the documents, the more powerful they are.

For example: In some cases, the minutes of the meeting are even one or two sides of A4 paper, and there is no document number, even the red head is not used, but sometimes it can be executed better than the red head.

Third, clear how to deal with the next step

Original: If investors discover various forms of virtual currency business activities, and organize organizations or individuals that continue to conduct ICO and virtual currency trading services to domestic residents through the deployment of overseas servers, they can report to the regulatory authorities for suspected crimes. Report to the public security organ.

Analysis: From the past "difficult acceptance" to today's explicit encouragement of "reporting", this is a big change, is the report useful, can you manage it?

There is a blind spot here. China’s criminal law is very powerful and has several jurisdictions:

One is the principle of territoriality. As long as you are engaged in virtual currency trading in the country, whether you are a foreigner or a native, you can be convicted.

The second is the principle of personal. As long as you are Chinese nationality, you have jurisdiction regardless of where you are going abroad.

The third is the principle of protection. Whether you are a national or a foreigner, whether you are inside or outside the country, you can apply criminal law as long as you hurt your native.

The fourth is the general principle. You don't do business with the Chinese, nor are you Chinese, nor are you in China. But as long as you are engaged in crimes that infringe on the common interests of all countries, this article mainly refers to terrorist organizations and so on, and generally may not be used.

According to these principles, there may be only one company in the front row of exchanges: the company is outside the country, the manager is a foreigner, and there is no fraudulent use of illegal fund-raising and online fund-raising for the Chinese, no falsehood. Trading, user-centric.

In the current situation, it is reasonable to put a small amount of money on the exchange – the exchange of the amount of money and even the currency is very common. If something goes wrong, it will be difficult to return your money to your own hands.

Looking back at the P2P explosion in the past: After the state took the shot, most of the companies died, and a few companies under the supervision of the state carried out a batch of X-year refunds. I have a friend who has been waiting in line for more than a year. There are more than 200,000 people waiting for a refund. It must not be what you want to see.

Fourth, some analysis and thinking

1. Supervision is a good thing. My friends who often read my articles know that I am very disgusted with the unscrupulous project of cutting amaranth. Everyone is coming by a newcomer, but every newcomer will be cut when they enter the currency circle.

In this matter, what is wrong is not the ignorance of newcomers who are eager to get rich but not willing to learn deeply. Which one does not want to get rich? The fault is those who use this mentality to unscrupulously cut the leek.

Blockchain is a good technique. But in any case, Bitcoin and other general-purpose economies are good technologies – history will prove it, although the process is tortuous.

However, all kinds of garbage claim to be good technology, and then to recruit new people with various patterns and techniques, it is fraud.

The current regulation is focused on the exchange, which I think is good.

In fact, I don't think that the exchange is a good thing – it is 8 hours a day, no more than 10%, and it is closed on Saturday and Sunday. At that time, the exchange may become a big game, you Look at the wonderful life of the stock market trader and the capital crocodile, you should know how bad the life of retail investors will be.

Under the current supervision, unscrupulous exchanges and unscrupulous projects will be cleaned up and the bubble will be blown away.

Let the good things develop and the currency circle will have a better future.

2. Bargain-hunting is risky. The current price is very tempting, so I think it can start to bottom out. But pay attention to two points, one is not to Stud; the second is not to touch the small coins.

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


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