China has legal virtual currency

『一』What are the legal virtual currencies in China

『二』The only legal virtual currency in China is

There is no legal virtual currency in China currency.

According to the notices and announcements issued by the People’s Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have currency properties such as legal compensation and mandatory, is not currency in the true sense, and does not have the same characteristics as currency. Equivalent legal status, cannot and should not be used as currency in the market, and citizens’ investment and trading of virtual currency are not protected by law.

The popular digital currencies in 2013 include Bitcoin, Litecoin, Unlimited Coin, Quark Coin, Zeta Coin, BBQ Coin, Penny Coin (external network), Invisible Gold Bar, Red Coin, Prime Coin. At present, there are hundreds of digital currencies issued around the world. The legend of “bit gold, Wright silver, infinite copper, penny aluminum” is popular in the circle.

(2) China has legal virtual currency extended reading

There are four main types of virtual currency on the market:

1 , developed by game operators, and used by players as a trading medium in online games;

3. An interactive virtual currency that can be used both within the virtual currency issuer and purchase goods and services from non-issuers; 4. Based on cryptography and modern network P2P technology, through complex It is a special electronic and digital network cryptocurrency generated by a mathematical algorithm.

The particularity of virtual currency

1. The personalized virtual currency market will play a role in enhancing traditional industries.

With the growing trend of game industrialization and industrial gamification, personal freedom has also been comprehensively developed, that is, personalized self-realization, which will become the ultimate goal of industrial upgrading. Traditional industries, including product manufacturing and service industries, will pursue the satisfaction of spiritual and cultural values ​​as the added value of products and services. Virtual currency will have its own cultural value proposition.

2. Personalized virtual currency will have information function in addition to liquidity and value-added.

The biggest difference between the personalized virtual currency and the stock market is not only the integrated pricing function of the reference point, but also the distributed pricing function of the reference point. This process is not done in the virtual currency market, but in the development of personalized modern services.

3. In the future personalized virtual currency trading market, price level information similar to today’s stock index will also be formed. But unlike the stock index, the personalized virtual currency price index will not reflect the investment value-added information, but the entertainment value, cultural value, spiritual value, freedom value and personality value like cool value.

『Three』 China now has several legal virtual currency companies

So far, the country has not officially announced any legal legal virtual currency companies.

1. Virtual currency refers to non-real currency. Well-known virtual currencies such as Internet coins of Internet companies, Q coins of Tencent companies, Q points, coupons of Shanda companies, micro coins launched by Sina (used for micro games, Sina reading, etc.), chivalrous ingots (used for chivalrous Taoist games) ), silver pattern (used in Bixue Qingtian game), popular digital currencies in 2013 include Bitcoin, Litecoin, Unlimited Coin, Quark Coin, Zeta Coin, BBQ Coin, Penny Coin (external network), Invisible Gold Bar, Red coins, prime coins. At present, there are hundreds of digital currencies issued around the world. The legend of “bit gold, Wright silver, infinite copper, penny aluminum” is popular in the circle.

2. The first category is the game currency that everyone is familiar with. In the era of stand-alone games, the protagonist accumulated currency by defeating enemies and winning money in casinos, and used these to buy herbs and equipment, but they could only be used in their own game consoles. Back then, there was no “market” among players. Since the Internet has established portals and communities and realized the networking of games, virtual currency has had a “financial market”, and players can trade game currency between players.

3. The second category is the special currency issued by the portal website or instant messaging tool service provider, which is used to purchase the services on this website. The most widely used is Tencent’s Q coin, which can be used to purchase value-added services such as membership and QQ show. [1]

4. The third type of virtual currency on the Internet, such as Bitcoin (BTC), Litecoin (LTC), etc. Bitcoin is an electronic currency generated by open source P2P software. Some people paraphrase bitcoin as “bit gold”, which is a network virtual currency. It is mainly used for Internet financial investment, and can also be used directly in life as a new currency.

(3) China Has Legal Virtual Currency Extended Reading

On June 28, 2009, the Ministry of Culture and the Ministry of Commerce jointly issued “On Strengthening the Internet” “Notice on the Management of Game Virtual Currency”, clarifying that the performance of virtual currency is an important part of online games.The form of prepaid recharge card, prepaid amount or points, etc., but does not include game props obtained in game activities; virtual currency shall not be used to pay, purchase physical products or exchange for any products and services of other enterprises.

(Source: Internet: Virtual Currency Related Regulations)

What are the legal virtual currencies in China

Answer:
Bitcoin, Litecoin, business points Fuyuan coin in the jewelry industry, and Dogecoin, which focuses on small rewards, are all legal.
But although virtual currency exists legally in my country, it is illegal to conduct pyramid schemes under the guise of virtual currency. For example, Baichuan Coin, Morgan Coin, MMM, etc. all use the guise of Bitcoin to conduct pyramid selling fraud activities.

『Wu』 Which virtual digital currency is legal in China at present

Digital currency is legal.

Digital currency itself exists legally in China. Digital currency is defined as an Internet commodity in China, but the relevant supervision is still blank, and digital currency is still in a gray area in China. Well-known digital currencies include Bitcoin, Litecoin, Ruitecoin, Thousand Gold Card, Dogecoin, etc.

But there are also some non-issuers who use the guise of digital currency to conduct pyramid schemes, such as the OneCoin scam, the Treasure Coin scam, the Portcoin scam and so on that were previously exposed by Bitcoin Home.

Extension information:

Digital currency is different from virtual currency in virtual world, because it can be used for real goods and service transactions, not limited to online games. Early digital currency (digital gold currency) was a form of electronic currency named after the weight of gold. Today’s digital currencies, such as Bitcoin, Litecoin and PPCoin, are electronic currencies that rely on checksum cryptography to create, issue and circulate. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency, theoretically avoiding bureaucratic approval and giving everyone the right to issue currency.

『Lu』 What is the only legal virtual currency in China?

There is no legal virtual currency in my country. For virtual currency (such as Bitcoin), China has not said that it is illegal, but it has not said that it is legal. It just prohibits the transaction of virtual currency, but there are still many Chinese people trading. The “Announcement on Financing Risks” clearly regulates relevant behaviors. The “Announcement” jointly issued by the seven ministries and commissions clearly pointed out that the tokens or “virtual currencies” used in the financing of token issuance are not issued by the monetary authorities, and have no legal compensatory nature. Mandatory and other currency attributes do not have the same legal status as currency, and cannot and should not be used as currency in the market.

Virtual currency: Bitcoin

『柒』How many virtual currencies are there in China at present? Are these virtual currencies legal in China

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In the age of abundance, money can buy what you want and enrich your life. Therefore, people have a dream of realizing wealth freedom and entering a better life in their hearts. There are many such dreams, which are often used. With the development of the Internet, online transactions have become convenient and fast, and people’s financial management thinking has also improved. Too deep, in general, the benefits cannot be tempted by greedy people.

1. Financial trading platforms not recognized by the China Securities Regulatory Commission and the China Banking and Insurance Regulatory Commission are illegal. As the concept of blockchain was put forward, virtual currencies became popular. In China, there are Bitcoin, Litecoin, Ritecoin, etc. The income of these virtual currencies was blown out of wonder, and everyone who listened to it would be jealous. Newborn fantasy, everyone knows that this is just a Ponzi scheme. The virtual currency trading platform will fool investors into asking you to enter the urn. After defrauding investors’ funds, it will be a series of numbers. , Some buys skyrocketed at the opening, investors kept adding chips, and eventually could not cash out.

『渌』What are the 12 virtual currencies that China allows to issue?

“China officially does not recognize any virtual currency nor legal virtual currency _Betel sugar, Yi Qiaozhen, Mou Zheng’s enactment The concubines and the beer are wrongly judged to be the benefactor sugar leaf, the betel sugar, and the ditch.
Extension information: Virtual currency refers to non-real currency. Well-known virtual currencies such as Internet coins of Internet companies, Q coins of Tencent companies, Q points, coupons of Shanda companies, micro coins launched by Sina (used for micro games, Sina reading, etc.), chivalrous ingots (used for chivalrous Taoist games) ), pattern silver (used in Bixue Qingtian game), the popular digital currencies in 2013 include Bitcoin, Litecoin,Tokens, Quark Coins, Zeta Coins, BBQ Coins, Penny Coins (external network), Invisible Gold Bars, Red Coins, Prime Coins. At present, there are hundreds of digital currencies issued around the world. The legend of “bit gold, Wright silver, infinite copper, penny aluminum” is popular in the circle.
There is no such thing as the first legal virtual currency in China. At the end of 2013, the central bank and other five ministries and commissions issued a bitcoin risk notice, clearly defining bitcoin as a special Internet commodity, and people can now freely buy and sell it on the premise of taking their own risks. _Other digital secret currencies are also suitable, such as Litecoin, the ancestor of altcoins, Fuyuancoin for business points in the jewelry industry, and Dogecoin for small rewards. But although virtual currency exists legally in my country, it is illegal to conduct pyramid schemes under the guise of virtual currency.
The private transaction of virtual currency online has realized the two-way circulation between virtual currency and RMB to a certain extent. The activities of these traders are to acquire various virtual currencies and virtual products at low prices, and then sell them at high prices, relying on this price difference to win profits. With the increase in such transactions, there has even been a virtual mint.
In addition to the virtual currency provided by the main company, there are also some people who specialize in “virtual coinage”, obtain virtual currency by professionally playing games and other ways, and then resell it to other players. Taking Wenzhou as an example, there are about seven or eight such “virtual minting factories”, employing four to five hundred people. This not only creates a bubble in the price of the virtual currency itself and causes trouble for the issuing company’s normal sales, but also provides a platform for various cybercriminals to sell stolen goods and launder money, thereby triggering other bad behaviors.

『玖』Is China’s virtual currency legal?

Virtual currency is not legal in China. National regulators have clearly ordered all bitcoin trading platforms to be closed, and others to be closed a little later. It’s not legal anyway.

“Pick up” What are the legal virtual currencies in China

There are central bank digital currencies. Reliable digital currencies include Yuanbao coin, Ruitai coin, Qianjin card, biteb, Litecoin, Ripple coin, Dogecoin and so on. At present, the only legal virtual currency in China is the central bank’s digital currency issued by the People’s Bank of China. The central bank’s digital renminbi is different from the familiar virtual currencies such as bitcoin, and it cannot be traded. The digital currency of the central bank belongs to the legal currency in the digital form controlled by the central bank. It is not a new currency, but an electronic version of RMB. The digital currency issued by the central bank is called Digital_urrency (digital currency) / Electronic_ayment (electronic payment), referred to as DC. /EP. The central bank’s digital currency is a digital form of the renminbi. It has the same function as paper money. Compared with paper money, digital currency is invisible and intangible money.
Extension information:
1. The US dollar (United_tates_ollar_sugar should be sloping_SD; ISO4217 currency code: USD; symbol: USA$) is the legal currency of the United States of America. The current U.S. dollar bills in circulation are the various banknotes issued since 1929. The U.S. dollar was issued by Congress, and after World War II, it eventually became an international currency.
2. The pound is mainly issued by the Bank of England, but there are also other issuers. The symbol most commonly used to represent the British pound is £;£. The ISO4217 currency code taken by the International Organization for Standardization for GBP is GBP (Great_ritain_ound). In addition to the United Kingdom, the currency of the British Overseas Territories is also denominated in pounds, and the exchange rate with the British pound is fixed at 1:1.
3. Renminbi (abbreviation: RMB; currency code: CNY; currency symbol: ¥) is the legal currency of the People’s Republic of China. Issued by the People’s Bank of China, the currency was first issued on December 1, 1948, and five sets were issued until the new version was launched on October 1, 1999, forming banknotes, coins and plastic banknotes, ordinary commemorative coins and precious metal commemorative coins, etc. A multi-variety and multi-series currency system.
4, Euro (Euro) is the currency of 19 countries in the European Union. The 19 member states of the euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvia, Estonia, Slovakia, Slovenia, Greece, Malta, Cyprus br>5. Yen (_), also known as Japanese yen, its banknotes are called Japanese bank notes, which are the official currency of Japan and were formulated in 1871. The yen is also often used as a reserve currency after the dollar and the euro. The currency symbol is “¥”, and its standard code is JPY by the International Organization for Standardization ISO4217. Japanese romanji is written Yen. The word _Mias copy _” is the abbreviation of “circle” (simplified character), read as “えん” (en), and formulates 1_=100 money=1000 cents. The English name is “Yen”; the yen symbol is similar to the RMB symbol. The International Organization for Standardization ISO4217 stipulates that its standard code is JPY. The yen is represented by ¥, and the Japanese yen is represented by adding an E after the number, for example: ¥1400E.

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