Xinhua News Agency, Beijing, September 24th, title: Departmental coordination, central and local linkages resolutely curb the trend of "coin speculation"
Xinhua News Agency reporter Wu Yu
Recently, ten departments including the People's Bank of China issued the "Notice on Further Preventing and Disposing of the Risks of Hype in Virtual Currency Transactions."
What is the background of the announcement?
What work measures have been proposed?
On the 24th, the relevant person in charge of the People's Bank of China answered relevant questions.
In recent years, Bitcoin and other virtual currency transaction hype activities have prevailed, disrupting economic and financial order, breeding money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities, seriously endangering the safety of people's property.
To this end, the People’s Bank of China, in conjunction with relevant departments, has issued a series of policies and measures to clarify that virtual currency does not have legal tender status, prohibit financial institutions from developing and participating in virtual currency-related businesses, clean up and ban domestic virtual currency transactions and token issuance financing platforms, and continue to carry out risks Reminders and financial consumer education have achieved positive results.
The relevant person in charge of the People's Bank of China stated that in order to establish a normalized working mechanism and always maintain a high-pressure crackdown on virtual currency trading activities, the People's Bank of China and other departments have combined the new risk situation and drafted a notice based on previous work experience.
"Our country’s regulatory policies for virtual currencies are clear and consistent." The relevant person in charge of the People’s Bank of my country introduced that virtual currencies that are issued by non-monetary authorities, use encryption technology, distributed accounts or similar technologies, and exist in digital form. Such as Bitcoin, Ethereum, etc., including the so-called stable coins such as TEDA coins, do not have the same legal status as legal tender, and cannot be circulated in the market as currency.
The notice clarified that virtual currency exchange, virtual currency trading as a central counterparty, matching services for virtual currency transactions, token issuance financing, and virtual currency derivative transactions are all illegal financial activities, which are strictly prohibited and are strictly prohibited in accordance with the law. Banned; the provision of services by overseas virtual currency exchanges to Chinese residents through the Internet is also an illegal financial activity.
According to the relevant person in charge of the People's Bank of China, my country will establish a normalized working mechanism of departmental coordination and central-regional linkage.
At the central level, ten departments including the People’s Bank of China, the Central Cyberspace Administration of China, and the Ministry of Public Security have established a coordination mechanism to coordinate and promote the implementation of work as a whole; at the local level, the provincial people’s governments implement the responsibility for territorial risk handling, and ban and crack down on the illegality of virtual currencies in their jurisdictions in accordance with the law. Financial activities.
In terms of the monitoring and early warning of the risk of virtual currency transaction speculation, the People's Bank of China and the Central Cyberspace Administration of China will improve the functions of the virtual currency monitoring technology platform to improve the accuracy and efficiency of identifying and discovering virtual currency transaction speculation activities.
Financial institutions and non-bank payment institutions have strengthened their monitoring of virtual currency transaction funds.
All departments and regions strengthen the effective connection of online monitoring, offline research and arrangement, and fund monitoring, and establish information sharing and cross-validation mechanisms.
In addition, my country will also build a multi-dimensional, multi-level virtual currency transaction speculation risk prevention and disposal system.
According to the relevant person in charge of the People’s Bank of China, the financial management department, the network information department, the telecommunications department, the public security department, and the market supervision department will work closely to cut off payment channels, dispose of relevant websites and mobile applications in accordance with the law, and strengthen the registration and advertising of relevant market entities. Comprehensive measures are implemented in terms of management, cracking down on related illegal and criminal activities in accordance with the law, and relevant industry associations strengthen member management and policy publicity, and comprehensively prevent and deal with the risks of virtual currency transaction speculation.
Talking about the follow-up work arrangements, the relevant person in charge of the People's Bank of China stated that all departments and regions will earnestly implement various measures, always maintain a high-pressure situation, resolutely curb the hype of virtual currency transactions, and severely crack down on illegal financial activities and illegal crimes related to virtual currencies. Activity.