Chinanews.com, September 24. According to the website of the central bank, the central bank and other departments have jointly issued the "Notice on Further Preventing and Disposing of the Risks of Virtual Currency Trading Hype" (hereinafter referred to as the notice).
The notice pointed out that virtual currency does not have the same legal status as legal currency, and virtual currency-related business activities are illegal financial activities.
The notice made it clear that virtual currency does not have the same legal status as legal tender.
Virtual currencies such as Bitcoin, Ether, and TEDA have the main characteristics of being issued by non-monetary authorities, using encryption technology and distributed accounts or similar technologies, and exist in digital form. They are not legal and should not and cannot be used as currency in the market. Use on circulation.
Virtual currency-related business activities are illegal financial activities.
Carrying out legal currency and virtual currency exchange business, exchange business between virtual currencies, buying and selling virtual currencies as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives transactions and other virtual currency related Business activities suspected of illegal sale of tokens and tickets, unauthorized public issuance of securities, illegal operation of futures business, illegal fund-raising and other illegal financial activities are strictly prohibited and resolutely banned in accordance with the law.
If carrying out related illegal financial activities constitutes a crime, criminal responsibility shall be investigated in accordance with the law.
The provision of services by overseas virtual currency exchanges to Chinese residents through the Internet is also an illegal financial activity.
For domestic staff of relevant overseas virtual currency exchanges, as well as legal persons, unincorporated organizations and natural persons who know or should know that they are engaged in virtual currency-related businesses and still provide them with services such as marketing promotion, payment and settlement, technical support, etc., they shall be investigated in accordance with the law. responsibility.
There are legal risks in participating in virtual currency investment and trading activities.
Any legal person, unincorporated organization, or natural person investing in virtual currency and related derivatives that violates public order and good customs, the relevant civil legal acts are invalid, and the resulting losses shall be borne by them; suspected of disrupting financial order or endangering financial security, the relevant departments shall be subject to law Investigate.
The notice requires that the risk monitoring and early warning of virtual currency transaction speculation be strengthened. Provincial people's governments give full play to the role of local monitoring and early warning mechanisms. Online monitoring and offline investigation are combined to improve the accuracy and efficiency of identifying and discovering virtual currency transaction speculation activities.
The People's Bank of China, the Central Cyberspace Administration of China and other departments continue to improve the technical means of encrypted asset monitoring to realize the full-chain tracking and full-time information backup of virtual currency "mining", transaction, and exchange.
Financial management departments guide financial institutions and non-bank payment institutions to strengthen the monitoring of virtual currency transaction funds.
The notice requires that financial institutions and non-bank payment institutions shall not provide services for virtual currency-related business activities.
Financial institutions and non-bank payment institutions shall not provide services such as account opening, fund transfer, clearing and settlement for virtual currency-related business activities, shall not include virtual currency in the scope of collateral, shall not carry out virtual currency-related insurance business or use virtual currency Currency is included in the scope of insurance liability, and clues about violations of laws and regulations should be reported to the relevant departments in a timely manner.
Strengthen the management of Internet information content and access related to virtual currency.
Internet companies are not allowed to provide services such as online business premises, commercial display, marketing promotion, paid diversion, etc. for virtual currency-related business activities. If clues about violations of laws and regulations are found, they should promptly report to relevant departments, and provide technical support and assistance for related investigations and investigations. .
According to the clues transferred by the financial management department, the competent authorities of network information and telecommunications shall promptly shut down Internet applications such as websites, mobile applications, and small programs that carry out virtual currency-related business activities in accordance with the law.
Strengthen the registration and advertising management of market entities related to virtual currency.
The market supervision department strengthens the registration and management of market entities. The registered names and business scope of enterprises and individual industrial and commercial households must not contain words or content such as "virtual currency", "virtual assets", "encrypted currencies" and "encrypted assets".
The market supervision department and the financial management department shall strengthen the supervision of related advertisements related to virtual currency in accordance with the law, and promptly investigate and deal with relevant illegal advertisements.
The notice emphasized the need to severely crack down on illegal financial activities related to virtual currencies.
After discovering clues to illegal financial activities related to virtual currency, the local financial supervision department, together with the branches of the financial management department of the State Council and other relevant departments, promptly investigate and identify in accordance with the law, properly handle them, and seriously investigate the legal responsibilities of related legal persons, unincorporated organizations and natural persons for crimes. If it is, it shall be transferred to the judicial organ for investigation and punishment according to law.
Severely crack down on criminal activities involving virtual currencies.
The Ministry of Public Security deploys public security agencies across the country to continue to carry out in-depth “special operations against money laundering crimes,” “special operations against cross-border gambling,” and “card-breaking operations”, and severely crack down on illegal operations, financial fraud and other criminal activities in virtual currency-related business activities in accordance with the law. Criminal activities such as money laundering and gambling implemented by virtual currency, and criminal activities such as illegal fund-raising and pyramid schemes using virtual currency as a gimmick.
The notice requires that industry self-discipline management be strengthened.
China Internet Finance Association, China Payment and Clearing Association, and China Banking Association strengthen member management and policy publicity, advocate and urge member units to boycott illegal financial activities related to virtual currencies, and follow relevant self-discipline management to member units that violate regulatory policies and industry self-discipline rules Provide for punishment.
Relying on various industry infrastructures to carry out virtual currency transaction speculation risk monitoring, and timely transfer of problem clues to relevant departments.