Beijing youth daily: blockchain is not equal to the nationwide rectification of virtual currency

Source: Beijing youth daily

Author: cheng jie

As blockchain technology has become a focus of social concern, virtual currencies, which have been severely cracked down on by regulators, have seen a resurgence. In response to this new situation, in recent two days, many local regulators announced that a new round of clean-up has been launched across the country.

On November 22, a person close to the office of the special regulation group for Internet financial risks of the People's Republic of China (hereinafter referred to as the regulation office) said that block chain has rich connotations and is not equal to virtual currency. At present, all the promotion activities of virtual currency under the banner of blockchain are illegal. Regulators have not changed a bit in their crackdown on virtual currency speculation and trading venues.

It is understood that currently, the regulatory authorities have been deployed, requiring all parts of the country to conduct a comprehensive investigation of the latest situation of virtual currency speculation activities with the help of the block chain, timely early or small problems. In the next phase of work, regulators will step up efforts to clean up and regulate virtual currencies and trading venues.

Within the organization of virtual currency transactions resurgent

As early as September 4, 2017, seven departments issued "for the issue of financing risk prevention tokens, announcement, the ICO and virtual currency trading places for rectification, clear to investors to raise a virtual currency, suspected of illegal sale of promissory notes, illegal securities, as well as the illegal fund raising, financial fraud, pyramid schemes and other illegal and criminal activities. The transaction scale of virtual currency in China has been greatly reduced, which has effectively avoided the impact of soaring and plummeting prices of virtual currency on China's financial market.

Since then, in view of the behavior of setting up servers abroad to provide virtual currency trading services to domestic residents, supervision has been further strengthened, and the settlement end has been continuously cleaned up and rectified.

However, recently, the popularity of blockchain has led to a resurgence of virtual currencies and some illegal activities. On the one hand, the prices of virtual currencies, including bitcoin, have soared, and inappropriate remarks like "the announcement on preventing the financing risks of token issuance is outdated" have appeared in the market. On the other hand, some institutions engage in illegal financial activities under the name of blockchain although they do not involve money.

For example, in the name of "blockchain innovation", some enterprises organize virtual currency transactions in China. Issue virtual currencies in the form of "×× currency" and "×× chain", issue white papers, make up the usage ecology, raise funds or virtual currency assets such as bitcoin and ethereum, etc. Some institutions provide publicity, drainage and agency services for ICO projects registered overseas and virtual currency trading platforms. Some illegal institutions even issue or promote legal digital currency in the name of the people's bank of China, or cheat investors with the gimmick of "legal digital currency".

13th of this month, the central bank's website also released a statement to clarify, is the so-called legal digital currency, as well as the individual institutions that are introduced using the people's bank "DC/EP" or "DCEP" behavior, which trade on the asset trading platform, may involve fraud and pyramid selling, the general public, please raise the risk consciousness, is not susceptible to trust, to prevent aggrieved.

Nationwide clean-up and rectification has begun

In recent days, regulators in shenzhen, Shanghai and Beijing have issued a clampdown on illegal virtual currencies, kicking off a nationwide crackdown. At the same time, the regulatory authorities reminded investors to enhance risk awareness, keep alert to the above illegal financial activities, timely report relevant illegal clues, beware of being deceived.

On November 21, the leading group office of shenzhen Internet finance and other special rectification work published a "risk warning on preventing illegal activities of 'virtual currency'" on the website of shenzhen local financial supervision administration. Tips, according to a recent borrow block chain technology promotion, virtual currency speculation, some illegal activities have signs of resurgence, according to the national gold each related deployment, shenzhen Internet financial risks rectification work leading group office will be trying to obtain evidence of the illegal activities carried out, once discovered, will be in accordance with the announcement of for the issue of financing risk prevention tokens for serious disposal.

On the afternoon of November 22, the office of the Shanghai joint conference on financial stability and the Shanghai headquarters of the people's bank of China also said that supervision and control efforts should be stepped up to crack down on virtual currency trading. The next step is to conduct continuous monitoring of the virtual currency business activities within the jurisdiction. Once found, it will be immediately disposed of. At the same time, the two departments reminded the majority of investors should pay attention to the block chain technology and virtual currency should not be confused, there are multiple risks in the issuance and trading of virtual currency, including false asset risk, business failure risk, investment speculation risk, and so on, investors should enhance the risk awareness, beware of being cheated. If investors find various forms of virtual currency business activities, and organizations or individuals that continue to conduct ICO and virtual currency trading business for domestic residents through the deployment of overseas servers, they can report to the regulatory authorities. For those who are suspected of illegal crimes, they can report to the public security organs.

That day evening, Beijing youth daily reporter learned that, virtual currency trading illegal financial activities to prevent the resurgence, to protect the interests of the broad masses of investors, according to the national Internet financial risks rectification work leading group office deployment, banking management department of Beijing local financial regulator, the pedestrian to the above illegal financial activities adhere to the "outcrop dozen" principle, continue to maintain high pressure regulation, in conjunction with the China's Internet financial association, the national center for Internet emergency for organisations such as the comprehensive MoPai facility virtual currency exchanges, once discovered, will be in accordance with the announcement of for the issue of financing risk prevention tokens and related regulations, serious disposal.

According to reports, the China Internet finance association and the emergency response center have also started searching the Internet to deal with newly discovered virtual currency trading sites and ICO activities in China and overseas virtual currency trading platforms. At the same time, the payment institutions are required to strengthen the inspection and clearing from the payment and settlement links. At present, some regions have established a technical search and arrangement system, and some financial offices in some regions have established a real-time technical interface with the emergency center. The emergency center regularly searches and arranges websites with local problems to timely find and deal with them.

Related news

Police in Beijing have arrested dozens of illegal digital currency traders

The emergence of virtual currency has been highly concerned by regulators. Since the beginning of this year, the regulatory authorities have maintained a high - pressure strike posture, rectifying the disorder.

Authoritative data shows that since 2019, China has closed six newly discovered virtual currency trading platforms in China, and disposed of 203 overseas virtual currency trading platforms in seven batches of technology. Close to 10,000 payment accounts through two large non-bank payment agencies; In terms of WeChat platform, close promotion and marketing small programs and public accounts close to 300.

Remarkably, the police have also begun to intervene. Hangzhou, Beijing has been "terminal" virtual currency exchange, said the insiders, currently into the prosecution process has more than 100 people.

Beijing police have cracked a fraud case involving BISS, an illegal digital currency exchange, and arrested dozens of suspects, effectively deterring illegal institutions and ringing alarm bells for investors, according to people close to the regulator.

In addition to claiming to be the world's first members-only exchange, BISS also claims to be "the world's first coinex + coinex stock exchange", allowing investors to trade not only virtual currencies but also us stocks with one click, according to past public filings. The registered users of currency market are divided into ordinary users and VIP members. The membership level and corresponding rights and interests are upgraded according to the number of paid members invited. BISS designed a VIP rating system similar to pyramid selling: "if a member invites a friend to become a new member, he can get a high amount of BISS cash back in addition to the commission fee. If he invites a friend of level 1 to become a member, he can get 80 BISS cash back; if he invites a friend of level 2 to become a member of BISS, he can get 40 BISS cash back. Its entire membership is divided into 6 levels, the more people pull the higher level, and the higher level can enjoy the following three levels of rebate. Today, the police define it as a case of fraud.

Text link:http://epaper.ynet.com/html/2019-11/24/content_342517.htm?div=-1

Silver block rhythm BlockBeats reminded, according to the circ and other five departments issued in August 2018 on the guard against in the name of the "virtual currency" "block chain" illegal fund-raising risk warning "file, please the public rationality block chain, don't blindly believe in reduction commitment, set up correct concept of money and investment philosophy, effectively raise the risk consciousness; To the illegal crime clue that discovers, can report to concerned branch actively reflect. & have spent & have spent

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