China Times (www.chinatimes.net.cn) reporter Zhao Yi and Hu Jinhua report in Shanghai
On the evening of September 27, Alibaba International Station officially released the "Announcement on the Prohibition of the Sale of Virtual Currency Mining Products" ".
announced that in accordance with relevant laws and regulations, as well as the instability of laws and regulations on virtual currency and virtual currency-related products in various international markets, the platform will ban the sale of bitcoin, , litecoin, On the basis of virtual currencies such as Biot, quark coin and ether, merchants are prohibited from selling virtual currency mining products.
Currently, reporters can still search for products such as Bitcoin mining machines on this platform. In this regard, the staff of Alibaba International Station told the reporter of " China Times" that according to national policy requirements, the sale of virtual currency mining machine products is prohibited. Currently, the products on the shelves can still be traded, but new products are no longer available. Announced and will be fully banned on October 8.
At the same time as domestic regulation is tightening, the international market's attitude towards cryptocurrencies has become increasingly tough. As of press time, the price of Bitcoin was US$41,947.21, a decrease of 3.15% within 24 hours; the price of Ethereum was US$2,898.62, a decrease of 5.49% within 24 hours.
encryption platform collectively bid farewell to the mainland
According to the control rules issued by Alibaba International Station, the stock orders on the platform will continue to be fulfilled, and subsequent after-sales related issues will be resolved. The agreed delivery time for new orders from September 27 to October 8 must be before January 8, 2022. From October 8th, no new orders and payments for products under the category will be accepted. Please strictly abide by the laws and regulations of various countries and platform rules for the fulfilled stock orders. If the merchant returns the payment made by the buyer, the platform will bear the related costs (such as handling fees) incurred by the refund.
platform requirements,Merchants who release virtual currency mining machine products and related products from 10.15 onwards will be punished by the platform in accordance with relevant rules. For malicious bypassing of rules or product categories, the platform will take penalties including but not limited to increasing deductions, blocking shops, restricting members' use of website product functions, freezing accounts, and closing accounts according to relevant platform rules.
The reporter noticed that since September 24, the People’s Bank of China and other ten departments jointly issued the "Notice on Further Preventing and Disposing of the Risks of Virtual Currency Trading Speculation" clearly stating that virtual currencies do not have the same legal status as legal currencies. After its related business activities were illegal financial activities, many virtual currency-related companies such as Spark Mine Pool, Huobi, Loopring Technology, and AEX Security Exchange have issued announcements to suspend business in the mainland or restrict the registration of mainland users.
On September 28, according to the official announcement issued by the digital currency market platform Non-small account, in order to actively respond to the regulatory requirements of the Chinese government, since September 28, 2021, non-small account will stop providing related services to users in China.
Except for the trumpet account, according to the reporter's inquiry, at present, the IP address in mainland China can no longer open the market information websites such as CoinGecko, TradingView, and CoinMarketCap.
On September 25, the official website of the cryptocurrency wallet TokenPocket issued an announcement stating that TokenPocket wallet actively embraces relevant regulatory provisions, and will terminate certain functions and services for inland Chinese users, and terminate transactions related to transactions that may not comply with the "Notice", etc. Standard documents or third-party DApp services provided by laws and regulations retain the basic service functions of the wallet.
A cryptocurrency platform practitioner told this reporter that his company has held meetings for two consecutive days, and finally chose to stop its existing business. “The current situation is that you are either unemployed or illegal. Choosing to be unemployed"; another practitioner also reluctantly ridiculed the reporter: "When I wake up, the industry is gone."
"Currently, there are many problems with crypto assets, from top-level design to bottom-level transactions, from market mechanisms to regulatory compliance. , There are serious legal issues, and some aspects even involve the legislative level, which is extremely difficult to solve. In fact, the role of crypto assets as emerging investment products is not being attacked by the global currency regulators.Rather, it is fighting against crypto assets, positioning themselves as cryptocurrencies, and challenging the central bank's central currency sovereignty. "Chen Jia, a researcher at the Institute of Currency of Renmin University, told reporters from China Times.
Global M&A Association Credit Management Committee expert member An Guangyong told reporters that cryptocurrency is different from traditional precious metal currencies and paper money, and has no value in itself. Except. In addition, its so-called mining method did not create any value for the society, but consumes huge electric energy and consumes huge computer resources.
An Guangyong believes that individuals or one or two companies become the issuer of currency. The main body is a very incredible thing. Because when the government issues currency, the government can invest its wealth in necessary links such as the national infrastructure by issuing currency. And if individuals or companies issue currency, whether their wealth can be invested to make sense to society In the link, you have to bring a question mark.
Multi-country tightens the supervision of the encryption industry
At the same time as the domestic regulation is tightening, the attitude of the international market towards cryptocurrency has become more and more tough. Recently, the U.S. regulator has turned to the encryption industry. A strong warning was issued, saying that it was in danger of repeating the toxic cultural mistakes before the 2008 financial crisis. According to foreign media reports, on September 17, US Treasury officials had already criticized (Tether) and other stablecoins. The most urgent risks of the company have been concluded, and are ready to make recommendations for strengthening the supervision of cryptocurrencies. The policy framework will be announced in the next few weeks.
According to foreign media reports, on September 27, Indonesian Minister of Trade Muhammad Luthfi stated that Indonesia will not be thorough. Cryptocurrency is banned, but supervision will be tightened. On the same day, the Swiss Financial Market Supervisory Authority (FINMA) stated that it will closely monitor local cryptocurrency providers, and Swiss platforms and brokers handling digital assets must strengthen monitoring and will observe bad participation
Previously South Korea’s revised "Specific Financial Transaction Information Reporting and Use Law (Special Law)" stipulated that cryptocurrency exchanges operating in South Korea must obtain information security management system (ISMS) certification and be Register with the South Korean Financial Intelligence Unit (FIU) before September 24. According to our previous report,As of September 24, more than half of South Korea's cryptocurrency exchanges have completely shut down operations.
Zhang Xuefeng, an independent financial commentator, told reporters that in recent years, in order to maintain social stability, regulatory agencies in various countries have increased their supervision of the virtual currency market. In the virtual currency market, there are more speculative behaviors rather than investment behaviors, which will cause the entire market to be greatly "off the real to the virtual", and in the long run, it is easy to cause systemic financial risks. In addition, many people buy mining machines for Bitcoin mining, which is a great consumption and waste of energy, electricity, etc., and does not create actual value.
Zhang Xuefeng reminded that in my country, cryptocurrency has been defined as "illegal." For investors of cryptocurrency, it is necessary to be cautious and protect their own safety, and it is not suitable to conduct virtual currency transactions. Improper transactions involving virtual currency are included in the criminal law. Staying away from virtual currency transactions is a good protection for your own financial safety or personal safety.
However, the reporter noticed that despite the stricter regulations of various countries on the development of Bitcoin and other cryptocurrencies, there are still more and more giant companies involved.
On September 24, Twitter announced that it will allow users to use Bitcoin on social networks to tip their favorite creators. On September 15, AMC Entertainment Holdings, the largest theater chain in the United States, stated that it plans to start accepting bitcoin for online ticket purchases and licensed products before the end of this year, and it will also accept other cryptocurrencies. On August 23, the American payment giant PayPal announced the launch of a cryptocurrency service in the UK, allowing UK customers to buy, hold and sell digital currencies.
In addition, since Bitcoin officially became the legal tender of El Salvador on September 7, some Central and South American countries have expressed their views to legalize cryptocurrency.
In response, Chen Jia said that the global investment market is currently turbulent, and the Fed’s attitude towards inflation and interest rate hikes has disappointed Wall Street. Today, when inflation expectations are rising, it is normal for some Wall Street venture investors to invest in currency assets. The circle's repeated "turning danger to barbarity" has a strong background in the times.
And in the view of Wang Juan, secretary general of the Digital Economy Committee of Beijing Computer Society,Some small countries in Central America and South America, like El Salvador, Venezuela , use cryptocurrencies to replace their national currencies, in order to eliminate national concerns about the uncertainty of their currencies. Therefore, the stance on cryptocurrency stems from whether the currency itself is strong or not. The better the close correlation between the currency and monetary policy, the stronger the country's ability to implement it, and the stronger the resistance to cryptocurrency.
Wang Juan believes that crypto assets are indeed favored by some giant companies and investment institutions, but the emerging Internet companies are more worthy of attention. These companies themselves are digital companies, and they will definitely look for their own value and expression of value in the digital ecosystem.
Wang Juan emphasized to reporters that risks exist in any market. High risks and high returns are matched. Investors should not just look at one of them. After being defined as "illegal" by the relevant authorities, some cryptocurrency investors in our country have joined through overseas investment, but this does not have corresponding rights protection in the country. Therefore, investors need to be cautious and stay away as much as possible.
.
