How to treat the ban on virtual currency transactions issued by major banks?

This statement and the corresponding banking measures will have the following effects:

1) It is difficult for virtual currency traders to withdraw money by using the domestic banking system.

2) In the virtual currency channel, anti-money laundering and anti-bribery have been strengthened.

3) Due to the ban of banks and the operation of closing the mining machine in the corresponding provinces and cities, we will withdraw from the virtual currency derivative financial market as a whole, which may adversely affect the productivity, employment and capital promotion touched by related financial instruments.

This ban, the color of administrative orders is relatively large, and it is not prohibited by law.

Because it is prohibited by law, it must be reviewed by legislation, including the deliberation of the National People's Congress. On the one hand, it is inefficient, on the other hand, it may not be able to get an overwhelming majority of votes. On the contrary, it reveals that it is difficult to implement a complete ban.

Judging from the information, at present, supervision meetings and verbal warnings are the main ones:

"Virtual currency trading and speculation have disrupted the normal order of the economic and financial system. They increase the risk of illegal activities such as illegal cross-border transfer of assets and money laundering. "

The main measure this time is to guide transaction control through the window of the banking system. At present, although there is no bitcoin trading platform in China, the overseas virtual currency trading platform still provides various P2P gold withdrawal and deposit channels.

Individual users still get bitcoin or convert virtual currency into RMB through these channels.

The main channels are personal WeChat transfer, Alipay transfer and bank card transfer.

Broadly speaking, the current WeChat transfer and Alipay transfer ultimately correspond to domestic banks.

Then, if the major banks announce that they will no longer accept indirect transactions of virtual currency, it means strengthening supervision and monitoring the purpose and source of transfer between individuals.

Lock the bank account or Alipay account that has been engaged in virtual currency trading for a long time. Once there is any change, you can use the bank account to control the data.

Report the account behavior to the financial supervision department, or cooperate with the supervision department to freeze the account.

Because this is the internal financial control of the bank, it is not affected by legal provisions and acts quickly.

Once the bank detects that the capital flow in your account is related to virtual currency, it can freeze your account and bring a lot of trouble to individuals.

Of course, since there is no legal support for this kind of behavior,

As an individual user,

You can also ask the bank to unlock the account through legal means.

Prove that your account operation has nothing to do with virtual currency,

Or a key stakeholder, rather than the proceeds of bribery or money laundering.

Even if it proves to be successful,

Will also have a huge impact,

Greatly supported the confidence of virtual currency holders and traders.

Of course, this measure is also a double-edged sword.

After domestic banks banned the related operations of virtual currency,

Whether there are assets flowing to foreign bank accounts or foreign banks in offshore account without the direct guidance of the People's Bank of China,

Will it cause the loss of bank deposits?

Because, at present, China residents can buy $50,000 in foreign exchange every year. If the RMB is transferred into a foreign currency account through this license, it will definitely have an impact on the domestic banking industry.

Anti-bribery and anti-money laundering have intensified. There are many reasons why the People's Bank of China handles virtual currency, mainly including:

Undoubtedly, the biggest problem of decentralized virtual currency is that it is difficult to supervise.

Once users get used to using virtual wallets,

It is difficult to implement measures such as freezing accounts and compulsory repayment like the original financial system.

You can't even collect taxes.

In the past few years,

By reducing the intensity of cash withdrawal, strictly controlling invoice reimbursement and unifying tax declaration,

China is increasing its control over personal financial accounts.

The role of the IRS is often as powerful as that of the US Federal Revenue Service.

At the same time, through digital currency's discovery,

Combined with the People's Bank of China, the tax authorities can hold everyone's cash flow in their hands.

Conduct tax audits at any time,

I believe many people will have several unanswered questions.

Virtual currency is decentralized, encrypted and difficult to supervise.

Contrary to the requirements of the Inland Revenue Department,

The so-called head shot,

If it doesn't hit you, you will lose your wallet.

So,

With the accelerated launch of digital currency,

Virtual currency will be impacted by the next stage.

Disadvantages of strengthening supervision As mentioned earlier, the first disadvantage of strengthening supervision is that it is possible to transfer some funds willing to participate in virtual currency to offshore account, an overseas bank.

On the one hand, it is out of the supervision of the People's Bank of China, on the other hand, it will also cause corresponding financial capital losses.

On the other hand,

The global transaction of virtual currency has formed a huge financial market of about 8 trillion to 10 trillion RMB. (mainly bitcoin)

It is still expanding.

In the development of blockchain, various centralized application scenarios and financial scenarios are constantly emerging.

For example, Defi loan, decentralized exchange, virtual assets NFT and many other variants, some of which are deceptive tools, but some of them can be stabilized and play an increasingly important role in western society.

So at present, the mine is closed and trading is prohibited.

In a short period of time, it has hit the use range of virtual currency, reduced the waste of electric energy and avoided the outflow of funds.

But in the long run,

Will it completely isolate us from this rapidly developing financial market and financial opportunity?

It's hard to confirm.

more importantly,

Banks unilaterally prohibit transactions,

Or freeze accounts,

Lack of clear legal basis and credibility,

Individual investors are prone to panic,

Thereby accelerating capital flight.

Well,

Our long-term goals and financial value.

This is where financial regulators and financial institutions need to think seriously.

From the perspective of strength alone, it is not as good as the supervision of 2065438+September 2007. 2065438+September 2007, seven ministries and commissions jointly issued a document to cancel all domestic virtual currency trading platforms at that time, and make rectification within a time limit of one month. This time, only the domestic virtual currency mining industry has been comprehensively cleaned up and rectified, and major banks and payment institutions are prohibited from using the platform to conduct virtual currency transactions.

We might as well stand on a big background and understand why the trading of virtual currency is strictly prohibited at present.

At present, more than 80% of the market value of global virtual currency transactions comes from dollar transactions. Including anchor currencies USDT and USDC used by several domestic platforms, they are also equivalent to disguised digital dollars. The essence behind it is still trading in dollars. At present, the overspending and depreciation of dollars have become a general trend.

From the national point of view, the transaction of virtual currency is equivalent to the loss of domestic assets to a certain extent, which is obviously unreasonable under the background that the whole foreign exchange financial industry is strictly regulated at present. Excess dollars issued by the Federal Reserve will eventually flow back to the United States, which will also lead to a sharp expansion of the US stock market bubble, and eventually the US economy will be seriously damaged.

Therefore, in recent years, the central bank has explicitly banned interviews with some banks and financial institutions, and the ban on virtual currency transactions is not simply to supervise the virtual currency industry. The game behind it still belongs to RMB and USD. The virtual currency headed by Bitcoin itself has the property of decentralization, but this decentralized property cannot be separated from the centralized trading platform and centralized deposit and withdrawal, which is problematic in itself.

Virtual currency itself is the product of digital technology, without the endorsement of any country's central bank, so it does not have the attributes of currency itself, but because of its special attributes, it has become a "global currency".

However, virtual currency has not brought tangible benefits to all countries in the world, but has wasted a lot of social resources and many negative effects.

Because of this, most countries in the world don't recognize the status of virtual currency at present, and even some countries explicitly point out that virtual currency is illegal, and the Bank of China has begun to rectify virtual currency.

On the afternoon of June 2 1, the central bank issued an announcement on June 2 1, pointing out that the relevant departments of the People's Bank of China recently interviewed some banks and payment institutions such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Postal Savings Bank, Industrial Bank and Alipay on the issue of providing services for virtual currency trading speculation.

This notice clearly requires major banks not to provide services for bitcoin transactions.

There are four requirements:

1. Effectively fulfill the obligation of customer identification, and shall not provide products or services such as account opening, registration, trading, clearing and settlement for related activities;

2. All institutions should comprehensively investigate and identify the capital accounts of virtual currency exchanges and OTC dealers, and cut off the payment link of transaction funds in time;

3. It is necessary to analyze the financial transaction characteristics of virtual currency transaction speculation, increase technical input, improve the abnormal transaction monitoring model, and effectively improve the monitoring and identification ability;

4, improve the internal working mechanism, a clear division of labor, compaction responsibility, to ensure that the relevant monitoring and disposal measures in place.

After the central bank issued a notice, the major banks also responded in time, cutting off the relationship with Bitcoin and prohibiting the provision of services for Bitcoin transactions.

The reason why the central bank wants to ban banks from providing services for virtual currency transactions this time can only be said that virtual currency has many negative effects, and its negative value is far higher than its contribution to society. This negative value is mainly reflected in several aspects.

1, disrupting financial markets.

The financial market is a very serious matter. Every country has very strict supervision over the financial market, especially the currency, which is basically issued by the central bank of each country and endorsed by the state, so the credit is very high.

However, in recent years, with the continuous progress of blockchain technology, some enterprises have developed various virtual currencies and regarded themselves as "central banks". However, these virtual currencies are not real currencies, but just a digital product. Now they are traded as currency without any supervision, which completely disrupts the normal financial order.

If anyone can issue money at will and trade normally without any restrictions, then the whole market will be in chaos.

2. Providing payment tools for illegal transactions.

In recent years, virtual currency has been sought after by everyone, because it is not subject to any constraints and is difficult to supervise, so virtual currency has become the main trading tool of some lawless elements.

For example, many people use bitcoin to launder money at present. A bitcoin is hundreds of thousands. It only needs 10 to wash away millions of funds, which will inevitably cause huge losses to society, further increase the arrogance of criminals, and will inevitably lead to drug trafficking, robbery, fraud, bribery, arms sales, terrorists and other activities.

So now central banks are cracking down on these virtual currencies, in fact, in order to cut off the back road of these criminals' transactions and make them nowhere to be found.

3. It harms the interests of small investors.

At present, virtual currency has been seriously out of supervision. Without supervision, virtual currency is like a runaway wild horse. Therefore, it is normal for us to see the ups and downs of virtual currency.

The ups and downs of virtual currency make some people become nouveau riche, but more people are hurt by small investors. These small investors blindly entered the virtual currency, and as a result, they became the target of being cut. Some people may lose tens of thousands or hundreds of thousands a day. If this investment chaos is not stopped, more serious things may happen.

4. A lot of power resources are wasted.

Virtual currency is completely a digital product, although it can drive the sales of some products such as computers, mining machines and power generation equipment, and it seems to have a certain promoting effect on economic development.

But compared with this role, virtual currency consumes far more electricity than it can bring value.

For example, according to the research data of the Research Center for Alternative Finance of Cambridge University, as of May 7, 20021year, the annual power consumption of global bitcoin mining was about1348.9 billion kWh, ranking 27th among all countries in the world, which exceeded the total power consumption of Sweden in one year.

This waste of power resources is shocking.

It is precisely because the negative impact of virtual currency is very great, and this negative value far exceeds the value created by virtual currency to society. So now central banks all over the world are stepping up efforts to crack down on virtual currency and return financial markets to normal. Only by putting financial activities under the framework of financial supervision can we bring positive effects to society.

Good news! In fact, the fiery coin circle has nothing to do with us ordinary people. Whether it's mine owners or coin speculators, it doesn't matter to us if they make money. On the contrary, they may laugh at our lack of foresight and our unworthiness. Only when you need to cut leeks, you will madly advocate the coin circle and let ordinary people come in and take over.

The world has been crying for a long time!

However, there has been a lot of good news recently. On the one hand, the virtual monetary policy is constantly tightening. Not only are major banks restricting virtual currency transactions, but now Alipay is also restricting virtual currency transactions. Combined with the continuous withdrawal of mines from various places, it can be said that it is a great welfare for us to eat melons!

Maybe friends who play games should feel the same way. Baidu graphics card bar used to be a gathering place for installation enthusiasts, but now I don't know when it became a mining bar. What is discussed in the post bar is not the configuration of installation, but how to dig.

Of course, it is no wonder that netizens, after all, the price of graphics cards is rising, and some graphics cards are out of stock even if you want to spend more money. Recently, the installation personnel also said that there will be a mine disaster in the near future, and we can finally buy a graphics card with normal price.

I hold a negative view on the currency circle, which does not create value and is worse than the stock market. At least the stock market also undertakes the task of financing enterprises, and is also regulated by law. The currency circle is called decentralization, but in fact no one is responsible. When the market is bad, the exchange unpluggs your network cable, and there is nothing you can do.

Who likes to play with this kind of thing? At least in China, we don't welcome this group of people.

Always remember one sentence: the money on the gambling table will never be yours as long as it doesn't go! With the increasingly strict supervision of virtual currency, the central bank has recently put a big move.

Interviewed a number of banks and payment institutions and asked them not to provide services for activities related to virtual currency transactions.

Subsequently, ABC, CCB, ICBC, Postal Savings Bank, Industrial Bank and Alipay announced that they would draw a clear line with virtual currency.

What followed was undoubtedly the virtual currency diving:

Bitcoin once fell to close to 10%, falling below 32,000 points;

Ethereum fell more than 10% and broke 1900 points;

In addition, other non-mainstream virtual coins have also declined to varying degrees.

According to relevant data, in the past 24 hours, more than 65.438+07 million people broke out in the virtual currency market, amounting to more than 6.5 billion.

As of press time, the whole market of virtual currency is still plummeting. All the points mentioned above have fallen below.

In addition to maintaining the high-pressure situation from banks and payment institutions, many parts of the country have begun to ban the behavior of "mining by mining machines" because, to be honest, this thing consumes too much electricity.

Some time ago, it was reported that the electricity consumption of mining has caught up with that of a small country.

Judging from the recent high pressure on virtual currency, it is not difficult to find that the above attitude towards virtual currency is very firm: it should be completely eliminated. The downward trend of virtual currency will not change in the short term. Don't take any chances.

Perhaps many friends who are still in this market can't hear such words, but the good medicine tastes bitter.

Virtual currency itself is a highly regulated market, which is completely out of the scope of supervision. As long as it goes up and down, it will inevitably be accompanied by a large number of people. What is this? This is cutting leeks.

Do you think you can have sex with that money? Can fight against capital?

In addition, when most people entered this market, they all heard that XXX had become popular overnight in the virtual currency market and wanted to make money quickly.

But when you finally got better, how much did you collect? If you win a lot of money at the gambling table, how many people will stop as soon as they meet?

Lack of supervision+ups and downs+human weakness make it difficult for us to obtain long-term benefits in this market!

Finally, I want to say: this time is by no means the end of supervision, and the decline of virtual currency has just begun.

Wealth beyond your knowledge, even if earned, should be returned to the market!

Thank you for your question. Over time, 90% countries in the world will ban the trading of virtual currency. Virtual currency is objectively similar to the new payment and settlement system and financial projects established by private financial groups, and can bypass the national payment and settlement system in a certain range. At present, few countries ban virtual currency, but any country with sovereign currency will not allow it to bypass the national payment and settlement system and financial supervision.

In the traditional payment and settlement system, the national central bank is the producer of money, and the bank is the channel for the distribution and circulation of money. With the decrease in the use of paper money, almost all the money flows in the system of the central bank and can be regulated. Although virtual currency is not real currency, it cannot be used in daily life. As long as it is not realized, virtual currency will continue to circulate, but its whole circulation process is in a state of black-box operation and it is difficult to be supervised. Money laundering, underground transactions, corruption and property leaving the country, which we often talk about, can all be realized very conveniently through virtual currency. At the same time, the service platform for issuing and cashing virtual currency has become similar to the role of traditional banks and stock exchanges. If financial institutions want to do this business formally, they must have a subject to provide services for virtual currency exchange legal tender. No one dares to buy it without the endorsement of the national project. The second is to establish a virtual money pool, similar to the stock market. This large-value virtual currency transaction has two functions. One is to collect a large number of legal tender, and only enough legal tender can be exchanged for transactions. The other is to maintain the valuation of virtual currency. In order to protect investors who don't know the truth from being cheated, major banks have issued a ban on virtual currency trading. Virtual currency promotes liberalism, evades financial supervision and avoids taxes. In fact, these people used their own advantages to design a model to help.

1. First of all, this is a specific follow-up measure after the major banks have determined their policies.

2. Originally, virtual currency was not officially recognized, that is, it had no legal status.

3. Virtual currency is in a gray area, and its impact on the existing financial system is unpredictable.

The central bank recently interviewed six banks and payment institutions in order to give them a shot in the arm: next, the state should rectify and clean up virtual currency.

Therefore, all major banks have begun to issue behaviors such as prohibiting virtual currency transactions and establishing accounts, which is in response to the call of the state. Since the birth of virtual currency, it has been questioned by many people. Why can such a virtual thing be fried?

In fact, virtual currency has been going downhill this year, and news of a big diving overnight can be seen everywhere. And at present, no country in the world has established laws and regulations to protect virtual currency, which means that investors who hold virtual currency will not be helped unless you are willing to take risks.

This third-party virtual currency is bound to become a popular thing, and it is impossible to see such a scene in the future: buying a bottle of water on the street and paying with bitcoin, shopping on Taobao online and so on. What's more, virtual currency mining itself will waste a lot of electricity and produce carbon dioxide, and the country will certainly not let it go.

It has been clearly stipulated that all service providers are not allowed to facilitate virtual currency transactions. Not only the major banks, but now even Alipay WeChat is gone. How to treat it?

First, there are huge risks in virtual currency trading. Nowadays, virtual currency traders are basically leeks that are slaughtered by others. Those big houses and big exchanges are always winners. Because they operate the market too easily. Now there are many uncontrollable and improper factors in this transaction because the supervision is not fully in place. Therefore, for the safety of personal assets, it is better not to play virtual currency transactions.

Second, a large number of investors suffer, for the safety of everyone's funds. The major banks can't provide services now, which can ensure the safety of our legal tender and prevent it from flowing out casually. Setting obstacles to virtual currency transactions can reduce impulsive investment, blind investment and even cheated investment.

Third, it is only a personal fantasy for virtual currency to replace legal tender. Virtual currency and gold have similar properties, but it can't completely replace money, especially in this era of frequent risks. By banning virtual currency transactions, major banks are defending the authority of legal tender. The status of legal tender is indestructible.

Virtual currency trading has been sought after by some people from the beginning, and now all countries, routes and links are restricted. I'm afraid it's not just about the interests, but its own problems are the root of the ban.

Avoid harvesting foreign capital!