Is it illegal for a cryptocurrency investor after being notified by 10 institutions, including the central bank?

"Opinion on the protection and operation of the security of the Declaration on financial transformation" issued by the 10 departments (hereinafter referred to as "the Opinion");The wording is intended to clarify that the terms of the business transaction are financial offenses.

Depending on the nature of the illegal trade, legal persons, non-profit organizations and individuals involved in financial transactions have been classified as "unethical" rules and are strictly prohibited. It is also the origin of the so-called "blocks" of cryptocurrencies.

With the substance, many of you will be surprised. Since virtual markets are associated with restricted virtual currencies, can virtual currencies be used as management products for individuals to invest? Is it illegal for people to invest in cryptocurrency? If my personal investment is lost, can I still get it back?

Currently there are many descriptions of "notices", but most of them relate to the stronger guardianship of virtual currency, illegality of virtual currency, and informing the public that trading in virtual currency is illegal, even illegal. But in the attitude of strong watchdogs, people can not invest in virtual currency? Is private investment illegal?

1Avoid the Hype About Cryptocurrencies and 'No Virtual Currency Investing'

Even if a person can invest in virtual currency, it depends on the subject of the "notification" issued by the country. The title of "Advertising" indicates that all "Advertisements" have been flagged to prevent and combat the risk of speculation in the cryptocurrency market, and its emphasis is on "hype."

"Warning" was also mentioned at the start that "the recent increase in the virtual currency exchange rate has affected the economy and the economy and has posed a threat to gambling, financial failure". crimes; Yes. The security of human goods. "

Upon closer inspection, it can be seen that the Virtual Perks should prevent the hype and prevent the Virtual Perks from being used as a tool for crime and fraud.

As a result, all services are associated with virtual advertising, marketing, trading, and a wide range of financial services and services, including services such as advertising, trading, settlement, and trading support. virtual foreign currencies, including restricted ones. . Services or businesses can inadvertently become “hotbeds” of criminal activity and offenses such as gambling, financial embezzlement, fraud, scams. The pyramid of nature and the financial economy, affect the economy and finance.

It can be seen that the above mentioned business activities associated with cryptocurrencies will inevitably point to the “dangerous hype” of cryptocurrencies.

So, unless you cause a "hype" and use virtual profits for gambling, illicit money, fraud, pyramid schemes, money laundering and other illegal and fraudulent activities infringing the law, you can prevent it from “warning”.

2Cryptocurrency-related businesses are financially illegal and “illegal personal investments”.

Many people believe that personal investments like a sole proprietorship, mortgage business, and trading business are also illegal due to trade barriers. to interfere with business is an illegal enterprise. It's a misunderstanding.

As mentioned above, the “Notice” aims to prevent the risk of speculation in the virtual currency market and to prevent virtual currency from becoming a tool for fraud and acts of violence such as gambling, illicit money, fraud, multiple steps, cash and assets before committing. Laundry facilities are restricted and business activities associated with virtual rewards are restricted. . From the public point of view, it is forbidden to provide the public with services linked to virtual performances.

The “notification” makes it clear that existing legal entities that provide financial services to the public are financial offenders, and at the same time states that all activities must be terminated in a timely manner and that no virtual results are to be provided. Public financial services.

Guangdong Guangqiang Law attorney Zeng Jie said, “The object and mode of action of Article 2 of the notification is not a matter of business or pleasure, but of practice. The work or business of an individual or an institution benefits. -Commercial frequency. "

In fact, Article 16 of the "Notice" also describes the illegality of business transactions involving virtual resources rather than the illegality of personal investment.

"Promote translation and broadcasting rights and education. All departments, regions and professional organizations have made full use of various media and other means of communication to spread the good news. Virtual and other means of public access through the legal interpretation, statistical analysis and investment Experience in business activities etc. should be reported to raise public awareness of risk prevention.

ThreeThere are legal risks involved in participating in virtual currency trading, and “investment in virtual currencies is limited”

The “Notice” (4) states: “There are legal risks associated with participating in virtual currency and trading businesses. Legal entities, nonprofits, and traders of virtual currency and other derivative products that violate civil and cultural norms should be involved. and if it believes that the financial decision is affected or that financial security is threatened, the relevant department will investigate and comply with the law. "

Based on this, many people believe that personal investment in virtual currency will not be allowed, in fact, it is a bad idea to invest in virtual currency. This policy fulfills the role of reporting and indicates that conflicts resulting from participation in cryptocurrency exchanges are not legally recognized.

For example, if a participant in a virtual contract, rental and operation of mining machines and trading of derivatives provided by a specialized agency, a loss occurs, or if the other party participates in the violation and violation of public relations between people. And because of bad governance, the investment and financial management of both parties will not be protected by law, and ultimately you will bear the consequences.

In fact, the fourth theme of "Goshi" and the spirit of 1994 Goshi are still the same, and people are involved and at risk in the cryptocurrency industry. However, unlike the 1994 report, the type of virtual currency market in which individuals participate is not legally recognized and has spread to market derivatives, so people need to strengthen their risk management policies. when they invest in virtual currency.

4different

At the same time, the "Notice" states that it is also illegal to conduct financial transactions on foreign cryptocurrency exchanges to provide services to Chinese people on the Internet. However, these rules apply to companies that open exchanges and provide virtual currency services, not personal investments.

In fact, the Korean attitude towards virtual currencies is similar with foreign exchange and foreign exchange trading in the future. A legal person cannot be a foreign legal person and provide its services, but does not prohibit individuals from engaging in trade from another legal person.

In summary, the "Cryptocurrency Hype Risk Protection and Safety Control Notice" provided by 10 departments has a significant impact on financial markets, but does not mean that people invest and participate in benefits. virtual. Trading in virtual currencies is restricted. .

The purpose of the "Notice" is to clarify that the activities required to be related to the virtual benefits are financial counterfeiting, to protect the virtual business benefits of the content, to prevent the notion of virtual currency, as well as counterfeiting and crime. where virtual currency is illegal. used as a tool for