Is the Bitcoin contract trading platform legal?

“One” Is Bitcoin illegal in China?

Our country’s laws do not explicitly prohibit Bitcoin, but its transactions are not completely legal. Bitcoin is not my country’s legal tender but a virtual currency, which cannot be used in the same transaction as RMB. There are bitcoins in our country, and it is not illegal to simply hold bitcoins, but my country has restricted the transaction of bitcoins. Generally, it can only be traded and transferred between individuals. It is not allowed to openly sell it to the public, because it has a relatively large existence. investment management risk.
Legal Basis Article 3 The legal tender of the People’s Republic of China is the Renminbi. All public and private debts within the territory of the People’s Republic of China shall be paid in RMB, and no unit or individual shall refuse to accept it.
Extension information
1. According to the “Notice on Preventing Bitcoin Risks” issued by the People’s Bank of China on December 5, 2013: Bitcoin has no centralized issuer, limited total amount, and no geographical restrictions on use. and anonymity. Although Bitcoin is called “currency”, it is not a real currency because it is not issued by the monetary authority and does not have currency properties such as legal compensation and compulsion. In nature, Bitcoin should be a specific virtual commodity that does not have the same legal status as currency, and cannot and should not be used as currency in the market. At this stage, financial institutions and payment institutions are not allowed to price products or services in bitcoin, not to buy or sell bitcoin or as a central counterparty, to underwrite bitcoin-related insurance business or to include bitcoin in the scope of insurance liability, and not to directly or Indirectly provide customers with other bitcoin-related services, including: providing customers with bitcoin registration, trading, clearing, settlement and other services; accepting bitcoin or using bitcoin as a payment and settlement tool; conducting bitcoin, RMB and foreign currency exchanges services; carry out bitcoin storage, custody, mortgage and other businesses; issue bitcoin-related financial products; use bitcoin as an investment target for trusts, funds, etc.
2. How to buy and sell bitcoin in China?
1. Select a trading platform. The current trading platform, to strengthen supervision, must have a real-name system. When choosing a Bitcoin trading platform, it is usually better to choose a larger and more influential platform. On the one hand it is safe and secure, on the other hand there are more currencies, active transactions and good liquidity. After choosing a platform, the first step is to sign up. Generally, it is necessary to register by phone or by email. After registration, a real-name system is required. ID cards and corresponding bank cards are used for real names. This is just a general real-name system. Without a real name system, most platforms are limited to not being able to trade. The general real-name system will also have restrictions on the amount and so on. Daily withdrawals or withdrawals are limited. Advanced certification is required if you want to increase the amount and other permissions. Advanced authentication usually requires video authentication, hand-held ID card, etc. After the advanced authentication is completed, the permissions will be much better. At this point, you can exchange fiat currency and virtual currency with other traders using the legal currency exchange in the platform. Currently, domestic platforms do not provide direct deposits of fiat currency, but provide the goal of depositing deposits for the mutual exchange of fiat currency bitcoin between different traders. This is the c2c aspect of the transaction, the platform is just a channel for guarantees and exchanges. Through the c2c aspect of the transaction, personal accounts can convert legal currency into different virtual currencies, but there are not many types of virtual currencies that can be exchanged here, which are usually common mainstream currencies such as bitcoin. Using these currencies, you can buy and sell multiple currencies through the platform’s currency trading. This type of trading is the trading method of choice for most players.
2. Completely private transaction First of all, the two sides of the transaction contact each other, and then the seller in the dealer transfers the virtual currency such as Bitcoin directly to the buyer’s wallet of the dealer through the wallet such as Bitcoin, and the buyer needs money or other equivalent transaction value. Virtual currency will be offered to the seller. The price trader can communicate with himself when trading, eliminating the hassle of registering with the platform. Compared with these two methods, the trading platform requires registration, and the real-name system is more suitable for users who are not afraid of trouble and are unwilling to trade with their real-name. The fees required for platform exchanges are actually very high. These are the factors that some people choose to deal privately. However, private transactions also have many drawbacks. One is the uncertainty of transactions. If the two parties to the transaction do not comply, there may be a risk that one party will pay and the other will pay. Even if you do a face-to-face transaction, there could be something like outright stealing or threatening to transfer bitcoin into your own hands. Another reason is that liquidity is not strong and it is always impossible to find anything that can be traded at any time. However, private transactions sometimes arise.In large hands, tens of millions of transactions are likely to be traded directly. Transactions at this time may be based on long-term cooperation and trust.
3. When doing bitcoin transactions, you must remember that although you need to use technical indicators, you must not fall into the quagmire of technical indicators. There are countless technical indicators in the K-line chart. Sometimes learning too much will disturb people. objective analysis, the ultimate purpose of learning these indicators is to use these indicators to obtain the information you need. If you get the information you need from a certain indicator, then you don’t need to worry about other indicators. In K There are many indicators in the line chart that share similarities.

『II』 Is bitcoin transaction legal?

At present, there is no clear regulation on whether it is legal in China, but it can be carried out on Huobi, Bitcoin China and other websites Trading, but the recent volatility of Bitcoin is relatively large, it is recommended to hold the trading suspension.

“Three” Is it illegal to pull people to do bitcoin contracts?

It is not illegal to do bitcoin business, but don’t use bitcoin to do illegal things.
The nature of Bitcoin is clarified, and it is believed that Bitcoin is not issued by the monetary authority, does not have currency properties such as legal compensation and mandatory, and is not a real currency. In nature, Bitcoin is a specific virtual commodity that does not have the same legal status as currency, and cannot and should not be used in the market as currency. However, Bitcoin trading is a commodity buying and selling behavior on the Internet, and ordinary people have the freedom to participate at their own risk.
In order to avoid excessive speculation in the name of “virtual currency” for virtual commodities such as Bitcoin and damage the public interest and the legal tender status of the RMB, the “Notice” requires financial institutions and payment institutions to correctly use the concept of currency in their daily work. Pay attention to strengthening the education of public money knowledge, and incorporate concepts such as a correct understanding of currency, a correct view of virtual commodities and virtual currency, rational investment, reasonable control of investment risks, and maintenance of their own property safety into the content of financial knowledge popularization activities, and guide the public to establish a correct attitude. Currency concept and investment concept.

“4” Is the Bitcoin trading platform legal?

There are too many platforms, formal and legal, and it is difficult for us to identify them. It is recommended to check in Block Sky Eye for a better choice.

“Wu” is the Huobi bitcoin trading platform legal?

Hello, the platforms that can trade bitcoin are basically legal, otherwise the transaction The office is long gone.

Is the “Lu” Bitcoin Huobi trading platform legal?

Of course it is illegal in China, so many people open VPNs to use foreign countries Trading software for purchases

『柒』 Is bitcoin trading legal in China?

“Bitcoin is not legal in China, and there is no law in China to protect bitcoin transactions .Bitcoin is not legal tender issued by the Bank of China, it is a virtual digital currency. Although China has no clear legal basis to prove that Bitcoin is legal or illegal, Chinese laws and regulations do not support the public trading of Bitcoin.”
According to the 2013 Central Bank of China The “Notice on Preventing Bitcoin Risks” issued on December 5 stipulates:
Bitcoin has four main characteristics: no centralized issuer, limited total amount, no geographical restrictions on use, and anonymity. Although Bitcoin is called “currency”, it is not a real currency because it is not issued by the monetary authority and does not have currency properties such as legal compensation and compulsion. In nature, Bitcoin should be a specific virtual commodity that does not have the same legal status as currency, and cannot and should not be used as currency in the market.
“Civil Code” Article 680 It is prohibited to lend at high interest, and the interest rate of borrowing shall not violate the relevant state regulations. If the loan contract does not stipulate the payment of interest, it shall be deemed that there is no interest. If the loan contract does not clearly stipulate the payment of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties’ transaction methods, transaction habits, market interest rates and other factors; loans between natural persons shall be deemed to have no interest.
There is no relevant law. my country only suspends the exchange of bitcoins, and does not declare that holding and trading bitcoins over the counter is illegal. The origin of the birth of Bitcoin is that libertarians represented by Satoshi Nakamoto seek a way of transaction that is not bound by the central banking system. These people expect a monetary system with a higher degree of freedom. This time, Bitcoin is recognized as belonging to Digital assets can be used as delivery objects.
But according to domestic laws and regulations, Bitcoin does not have monetary functions, but this does not prevent it from being a digital asset and can be used as a delivery object. China has never had a “bitcoin illegal” policy.
Kong Jianping said: “Mainland China’s policy is generally to support technological innovation and prevent financial risks.”�. In 2013, the five ministries and commissions said that Bitcoin is a virtual commodity, and ordinary people can freely participate in trading, but financial institutions cannot participate. There is no such policy as “bitcoin illegal” in China. The documents of the seven ministries and commissions in 2017 have nothing to do with Bitcoin. We found that in 2017, we saw that many leaders of the central bank spoke about the regulation of digital currency. After July 18, 2019, only two words appeared in all speeches, “research”, not “supervision”, which has changed a lot. At the same time, the National Development and Reform Commission also deleted the digital currency mining that was originally planned to be included in the “elimination category”. “
According to the government’s latest attitude on Bitcoin in 2013: Bitcoin belongs to the user’s private virtual assets, so it actually means legal protection, which can also be reflected from the actual cases in our country: 2018 A Chinese court in 2009 recently ordered a company to pay back stolen cryptocurrencies in a civil dispute, setting a legal precedent for a cryptocurrency-related disagreement. The Shenzhen court also confirmed that cryptocurrencies have economic value in a civil dispute.
Of course, the platform you choose to buy bitcoin is also very important, because this is an early market that is relatively unregulated or unlicensed, and you must choose an exchange with a relatively high degree of internationalization, because it also means that these exchanges have passed After the verification of foreign users and regulations, it is recommended to go to a head exchange like ZBZB to buy in order to prevent the loss of your own funds.

『渌』Why conduct bitcoin transactions in China Currency transactions are illegal

Bitcoin has become the most popular cryptocurrency in the world. For bitcoin transactions, some countries allow it, but some countries prohibit it, and China belongs to the latter. Why does China shut down What about bitcoin transactions? Let’s analyze this problem today.

Bitcoin currently does not have the function of a medium of exchange in China, so it cannot be called a currency. At the same time, bitcoin Coins have the function of storing value and have a certain investment value. However, the rapid rise in the current price has formed speculative expectations and may form a bubble in the future. Therefore, it is necessary to take measures in advance, which can also inhibit some money laundering through Bitcoin, Illegal act of transferring assets.

『玖』Is bitcoin legal in China?

Although bitcoin still exists However, after years of development, with the increase of its application population, the increase of application scenarios, and the enhancement of application technology, no country or organization can completely eliminate it. If you can understand it, it is very There may be a situation where countries generally accept Bitcoin and embrace Bitcoin.

In my personal judgment, after a period of continuous development, Bitcoin is likely to become a world currency in the future, and can play the role of electronic gold. It has become the target of other sovereign currency values. From this point of view, Bitcoin can be used as a means of asset preservation in the future when inflation is inevitable in various currencies.

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