A financial performance analysis performed by Bitcoin virtual assets

The decentralization of Bitcoin and currency-like products are now a very influential network virtual asset, and as it has evolved into a global virtual currency, it is often used as a form of transportation by the through fraud, money laundering and other crimes. , a major threat The economy and financial security have improved. As a result, Korea announced regulations banning the redemption and trading of Bitcoin and fiat currencies. In this context, how the Court of Justice should resolve the issues of parties' claims for Bitcoin regulation has become a reasonable matter of education.

1.feelings caused by an event

At the time of completion, the writers were facing a complaint for killing Bitcoin. The Approval Lab Limited petitioner filed a complaint alleging that "Liu Mousheng injected 179.5244 Bitcoins into the account of Consensus Lab Limited". There are inconsistencies in the law that can be applied in practice, as the completion of an application can be accepted and completed. According to a commentary, according to the rules and regulations in force, Bitcoin is an illegal and unacceptable virtual asset. Another idea is that while the virtual Bitcoin equipment has been recognized under current law, the country only prohibits the exchange, exchange and distribution of Bitcoin as a currency, but does not restrict the 'use of objects classified as virtual devices, so it should be received.

At the same time, a research on the China Information Processing website using BTC and Bitcoin as key terms showed that most courts have a means for these applications and decisively determine this administration. For example, District 1 Court heard a case regarding a contract between Chen and Peng and ordered Peng to return 70 bitcoins to Chen. After being put on the list of unscrupulous people, it was decided to end this policy. Another example is that in the event of Cui XX's criminal property violation and other financial frauds, the B municipal court legally froze the executor's bitcoin on the okcoin.cn platform, the network of currencies and other platforms. , but the law regarding bitcoin regulation is unclear. , decided to conclude the law. Another example is Dongguan Network Technology Co., Ltd. C city court ran Lin's claim for violating a court order. The plaintiff provided information about his Bitcoin assets, but the court still decided to end the law. The foundation without working tools has been found. Disposal procedures are also worth discussing.

Second, the three issues of accepting Bitcoin legalization requests

1. The nature of Bitcoin is problematic. Article 127 of the Civil Code states that “If the law provides for the protection of data and virtual network equipment, please follow these rules”. Virtual network protection tool A feature that provides legitimate protection. Now, regarding the concept of Bitcoin, there are debates, such as the perception of assets, the properties of borrowers, the right to network virtual goods, the properties of devices, the politics of tools and the new theory of tools. In litigation, lawsuits and lawsuits involving Bitcoin are common, and lawsuits in different areas of the fair are subject to prosecution. Police confirmed the arrest, and the Justice Department, Hanyang District, Wuhan City, Hubei Province, arrested the accused who was managing and operating another Bitcoin account to steal another Bitcoin for thieves. .

2. There are issues with the price of Bitcoin. As Bitcoin is often used to commit crimes that affect financial security and security due to crimes such as fraud and money laundering, in 2013 the company and five organizations co-sponsored “Security Protection” (hereafter "Bitcoin"). The Bitcoin Risk Prevention Notice states that Bitcoin does not have the same rights as currency and cannot be used as currency. In other words, there is no legal trading platform for Bitcoin in our country. However, since Bitcoin has value and value in the market world, and prices and fees often change rapidly in roller coaster style, how to determine the price and value of Bitcoin in such a situation is the use. of the Bitcoin application.

Currently, there is no nationally recognized trading platform for Bitcoin in China, and there are no rules for its pricing and measurement, and there is no legal tender. In fact, regional courts have several means to determine the value of bitcoin, some courts refer to information on the site to set the price, the court has decided to determine the value with the consent of both parties, and some judges. Some funds involved in the deal serve as the special rate of bitcoins involved in the deal, and some are directly accounted for by the agency's local fee rating agency.

Three. A need for the Bitcoin application is missing. Although public law does not explicitly state the status of virtual devices on the Internet, and there are no rules on the use of virtual devices on the Internet in regulatory documents. , South Korea announced a law banning Bitcoin as a currency. This creates problems with the use of Bitcoin. There is a difference between law and interpretation, and no regulatory framework. This is also the main reason why regional courts often use detention procedures to deal with Bitcoin applications.

Third, a device type analysis of the Bitcoin app complements the case.

1. Distribution of Bitcoin application completed. The establishment of the principle of protection of virtual devices in civil law is based on respect for the real needs of the evolution of time and on the continued expansion of the capital layer of property privileged by the public. With the rapid growth of information technology, more and more people will enter court management. The authors believe that in the face of the Bitcoin policy enforcement, the court must adhere to the principles of respect, good faith and caution, and classification process according to classification. Judicial knowledge shows that the Bitcoin application can be prosecuted in two categories:

First, an application runs to switch between virtual devices. Our country bans Bitcoin as a virtual currency market, but this only affects knowledge of exchange rates as virtual currency and does not accept Bitcoin as a tool.Virtual ownership prefers another right of possession, of use, disposal or gain. Of the seven types of assets listed in the Civil Code, many of the virtual devices on the Internet are subject to other civil law laws. Changes in the legal status and inheritance of virtual network assets by licensees are protected by law. Therefore, the application for legal distribution and inheritance of Bitcoin can be classified as the application for the completion of virtual distribution devices.

Second, it has been transformed to promote bitcoin and custom changes. "Prevent safety notifications" has clearly clearly the Bitcoin is not legally with the money and should not use money in the market. In 2017, seven countries in China shared "call the risk of money" ("reported at risk") together are announced. At the same time, from the views of "the protection of the richest dangers", it will not be involved in the "social plans", or not Follow the centers of "contact the verse", the price, personal information, and send "virtual call". The above two values will be repeated, functional, such as the coins that are related to a non-employment employment and impact.

However, since Bitcoin has gained ground in the market in recent years, negative support such as buying and trading Bitcoin and fiat currencies has become a reality. For example, in the first case of the Bitcoin lawsuit, one of the parties filed a decision to recover the value of digital assets in US dollars. According to public information on the closing price of BTC (Bitcoin) and BCH (Bitcoin Cash) at the time of the execution of the agreement announced on the site okcoin.com provided by the cutting committee. the property will be refunded approx. as following. US $ 401,780, equivalent order. Others complained and asked the court to withdraw the gift on the grounds that it violated the public interest. The court ruled in favor of Gao, including payments to Li and its bitcoin equivalent in US dollars and the exchange of US currencies for renminbi, which greatly favors the redemption and economics of bitcoin trading and the fiat currency, which was previously the spirit of the law. , which is prejudicial to the public interest of the community and therefore revokes the arbitration award.

2. Plan the Bitcoin application pre-test process. As mentioned above, running the Bitcoin app currently does not have the specific operating rules required to make the Bitcoin app work, which is the main reason municipal courts are now given procedural guarantees. Therefore, establishing specific operating rules for the use of Bitcoin applications is essential. The author claims that this is the second sentence of Article 237 of the Code of Judicial Procedure, Article 16 of the High Court Code (for ruling) on ​​various regulatory matters. Adherence to the Court of Man and Procedural Rules on Nuclear Matters for the Court of Appeal of the High Court for Adults. (hereinafter referred to as "Code of Conduct Statement") Chapter 3 and the wording of the rules explicitly prohibit the exchange of Bitcoin as a currency for preliminary examination. Bitcoin application procedures to get a comparison Special application data is separated.

Specifically, the court must accept the Bitcoin Completion Request, even if it is a Request for Bitcoin and Fiat Currency Redemption and Exchange Completion, a document disguised as Bitcoin and legal tender. , or the completion of virtual assets. application. If it is recognized that this is a request for completion for the redemption and exchange of Bitcoin and being legal tender or a request for completion for the redemption and exchange According to Bitcoin and the legal tender, it will be processed and complied with the Conditions. The procedures related to Article 3 of the “Code of Conduct for Rulings and Disclosure” are being prepared and the final decision has been taken on the basis of the review. In other words, there is a need to establish disguised support for the implementation of review and settlement procedures for bitcoin and fiat currency redemption and completion of transactions, and to submit findings on crimes of public interest to the People's High Court. for consideration and approval, then the Supreme If sent to the people's court for approval, the decision will not be implemented or the decision of the mainland Our country's physical arbitration will not be eliminated.

Three. Actions to transform virtual assets into Bitcoin. Currently, our country has not banned the advertising of non-holding and trading of Bitcoin and trading of Bitcoin. The free flow of Bitcoin in the "market" is also smooth and easy. Bitcoin is a peer-to-peer virtual crypto digital currency that does not depend on the publication of a particular financial institution and is developed by multiple calculations based on a unique algorithm, and uses distributed data composed of multiple total nodes. . A peer-to-peer network that identifies and records all transactions and cryptographic standards is used to ensure security in all aspects of the business. The decentralized nature of P2P and the algorithm itself can ensure that the value of the currency cannot be controlled by the mass production of Bitcoin. With an encryption-based design, Bitcoin can only be sent or paid for by its true owner. Bitcoin holders can operate independently of their Bitcoin wallet without any restrictions or network charges.

In our country, there is no legal third-party Bitcoin trading platform, so it is impossible to conduct a thorough analysis of virtual goods on the Internet in view of the existing cases in the face of Bitcoin application destruction data, a reported Voluntary by a. Part relying on acquisition or acquisition. Therefore, for the use of Bitcoin virtual currency exchanges, it is important to ask the parties to submit it themselves or come to a settlement decision. . In cases where the parties have been invited to bring in a foreigner on their own or have not yet reached mediation, the existing legal procedure can be used with reference to the method of control. This will motivate the administration conditions to complete the delivery of Bitcoin as determined by the legal data for the administrative requestor. associated with success.