Virtual currencies are banned and completely blocked

I would like to advise virtual currency players to stop deceiving themselves and others. The current status of virtual currency in China is that the entire industry chain is completely blocked. What is about to usher is not supervision, but prohibition.

Following the release of the "Announcement of the China Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association on Preventing the Risks of Speculation in Virtual Currency Transactions" on May 18 through the official WeChat public account of the People's Bank of China, the State Council of the People's Bank of China The Financial Commission issued a new notice on May 21 to crack down on Bitcoin mining and trading. This shows that virtual currency, a purely financial game, cannot gain legal status in China, which focuses on developing the real economy. Let’s first talk about the main meaning of the announcement from the three major financial industry associations and the central bank on May 18: virtual currencies are prohibited in the entire industry chain, and activities involving virtual currency operations are classified as illegal fund-raising, illegal issuance of securities, and illegal issuance of securities. Crimes of currency tickets and so on. Specifically, it is divided into the following points: First, it is completely prohibited for enterprises to operate virtual currencies as their main business, and the operating entities of virtual currencies are banned. Second, it is prohibited to provide registration, exchange, payment, trading, clearing, settlement and other services for virtual currencies, so that Virtual currency becomes a bunch of meaningless numbers. 3. Prohibit virtual currency trading platforms, information platforms, intermediary services, etc., and prohibit the circulation of virtual currencies. 4. Financial institutions and payment institutions are not allowed to touch virtual currencies or disconnect them from the Internet. 5. Virtual currencies are not allowed to be used as assets for mortgage or insurance, and virtual currencies are not allowed to be used to issue financial products. Trust companies and investment companies are not allowed to As an investment target, virtual currency eliminates the so-called digital asset attributes of virtual currency. 6. Individual currency speculation is not protected by law. Many people don’t understand what it means to not be protected by law. To put it simply, if you want to report a crime, the public security department will not accept it. If you want to sue, the court will not accept it. This is what it means to not be protected by law, and so on.

There was no ban on coin mining at that time. Unexpectedly, three days later on May 21, the Financial Stability and Development Committee of the State Council issued a notice to crack down on Bitcoin mining and trading. In this case, the virtual currency will finally The most basic part has also been blocked. The entire chain of domestic production, operation, trading, exchange, and services of virtual currency has been completely banned. If you use a bank card for virtual currency transactions, you should also be careful with your bank card. Some people say that there were similar documents before, but the thunder was louder than the rain. Dear currency players, today is different. From the second half of last year, the country’s thinking on the management of the financial industry has undergone a major reversal. There are two core points. The first point is that finance must serve entities. Everyone. How did the GDP growth rate of 18 in the first quarter come from? If finance cannot serve the entity, it has no meaning of existence. Not only can virtual currency not serve the entity, but it will also cause the real economy to shift from reality to virtuality. Do you think it can be banned? The second point is to prevent financial risks and prevent individual risks from being transmitted to the social field. So again, if someone advises you to buy the bottom, do you think he is asking you to buy the bottom, or is he asking you to take over?