For a long time, the relevant regulatory authorities have maintained a high-pressure crackdown on illegal virtual currency transactions. On September 4, 2017, seven ministries and commissions, including the people's Bank of China, jointly issued a notice on preventing the financing risks of token issuance, defining ICO (initial token issue) as illegal fund-raising, and no organization or individual may illegally engage in token issuance financing activities, which is referred to as the 94 ban by the industry for short. According to authoritative data, since 2019, the Mutual Monetary Regulation Office has shut down seven newly discovered virtual currency trading platforms in China, and transferred and disposed of servers to the relevant departments in seven batches, essentially facing domestic operations. More than 200 platforms, close nearly 10,000 payment accounts, close WeChat marketing promotion Mini Programs and public accounts nearly 300.
"This blow, to put it bluntly, is to clean up the market. "Wang Jia told Time Weekly that the currency circle's message was to promote the technology of virtual currency, curb virtual currency trading and speculation, and crack down on fraud and pyramid selling. The virtual currency was originally a high-risk sector:24 hours a day, no trading, no trading, no policy management, but many investors mistakenly thought it was a high-yield, low-risk industry:" I think the blow is to deter the wicked and protect investors. If not, the wicked may be more emboldened. "
On November 20 th, a number of block chain WeChat accounts were sealed, including "deep chain Deepchain", "coin circle bond", "one coin", "fried coin school" and so on. Some official account WeChat pages show that "by the user complaints and platform audit, suspected of violating relevant laws and regulations and policies, the account number has been blocked, the content can not be viewed" .Nov. 18, set up in the CBRC to deal with illegal fund-raising inter-ministerial joint meeting office sent a letter to the provincial and municipal offices, suggesting to prevent the risk of illegal fund-raising in the name of the "block chain". November 14, Mutual funds between Shanghai Joint Office of Financial Stability and Shanghai headquarters of the people's Bank of China The rectification Office jointly issued a notice demanding that the virtual currency trading places in the jurisdiction should be completed by November 22, and that the enterprises should immediately rectify and withdraw from the territory, and that they should be reduced as soon as possible. Earlier, on Nov. 8, the Dongguan Municipal Bureau of Financial work issued a hint on preventing illegal fund-raising in the name of "virtual currency" and "blockchain". It pointed out that recently, some lawbreakers, under the banner of "financial innovation" and "blockchain," absorbed public funds by issuing so-called "virtual currency."
In recent years, the crazy ICO, the stir-fried currency, let the virtual currency from the highly recommended black technology, gradually develop into the pronoun of the sale, the fraud, the illegal fund-raising. The senior player of the "Some of the people who made the sale, the swindler came in, made the pot full, and the reputation of our industry was corrupted." currency circle, Liu Hui, said to the newspaper reporter of the time.
(picture source:搜狗图片)
The attack on the virtual money transaction is good for the development of block chain technology. "One is to stop the chaos of the industry, make the development of the industry more standardized, compliant and transparent, and the other is to be able to play a very good guiding role, and to highlight the support of the state on the application of the enterprise in the regular block chain." At the same time, all block chain enterprises are required to be able to go to the research of the application of the bottom layer, and realize the real value of the combination of block chain and solid scene as soon as possible. "
In addition, according to people close to the office of the national Internet financial risk special control team, the relevant regulatory authorities have issued a notice calling for a comprehensive investigation and disposal of illegal activities of virtual currency hype with the help of the concept of blockchain, and requiring payment institutions to strengthen the investigation and clean-up from the payment and settlement link, if there are problems, timely early reduction. "regulators have long been unsupportive of virtual currencies." He Nanye, a special researcher at the SUNING Institute of Finance, told Times Weekly that the launch of a comprehensive crackdown was due to the recent rise in virtual currency transactions, especially the use of block chains to engage in virtual currency transactions. There are more and more conditions.
He Nanye said that the current stage of virtual currency can not provide real value for the real economy. At the same time, virtual currency provides a hotbed and soil for illegal transactions such as money laundering, and there are many illegal cases of financial pyramid selling through virtual currency, which are disadvantageous to the development of the real economy. Unlike the 94 ban issued in 2017, Liu Hui noted that this round of strikes emphasizes adherence to the principle of "hitting small early" or "hitting out". "this sentence is worth remembering, which may mean that this is a new project, not a 'one-size-fits-all' one-size-fits-all as it was in 2017."
On 21-22 November, in two days, Beijing, Shenzhen, Shanghai and other organizations successively announced that they would be in full touch with organizations such as the virtual currency trading place in the Republic of China. Once found, they should be seriously disposed of. Police are involved in the related cases. The public information shows that the Beijing police recently broke the fraud case of the BISS of the illegal digital currency exchange, and arrested dozens of suspects.
