One is that after the UnionPay card stopped investing under the capital investment insurance and the cross-border M&A audit of domestic companies, the supervision of individual foreign exchange purchases began to tighten. If the regulatory department finds that the "ant moving" type of escaping is serious, it may be fined less than 30% of the amount of the escaping. The other is that Bitcoin ushered in a “open door†in 2017, and the transaction price on the 3rd broke the $1,000 mark, setting a new high in three years. People with a sense of smell connect these two things: through bitcoin trading, you can circumvent foreign exchange controls. Technically speaking, this does not seem to be difficult to achieve, but such a cleverness may not be really feasible. In the current complex economic and financial environment, the market should not forget the potential risks of Bitcoin. The so-called technical difficulty is mainly due to the inherent anti-regulation ability of Bitcoin. It is not difficult to block the exchange, but it is difficult to control bitcoin technology.
Bitcoin is a network currency, born in 2009, based on a set of cryptographic codes, generated by complex algorithms, with a limited total (21 million). At present, many institutions claim to accept bitcoin for payment, and the German government has even officially recognized it as a form of currency. China is the world's largest bitcoin trading market. Bitcoin is based on the Blockchain protocol. Compared with legal currency, Bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes, which is called “decentralizationâ€. This technology also enables Bitcoin transactions to be backed up simultaneously on millions of servers around the world, and cannot be tampered with and can't be faked.
Earlier this newspaper reported that the process of converting RMB into US dollars through Bitcoin was very simple and only took a few minutes, and some people actually operated it. Seemingly simple, risk is embedded in it. In short, the current bitcoin is not a good financial investment, and needs to think twice. The most direct is of course the risk of price volatility. Bitcoin has skyrocketed and the value of the currency is very unstable. One of the characteristics of Bitcoin is its anonymity. Anyone can create a wallet, equivalent to a bank account, without leaving personal information. Bitcoin is by far the most successful use of blockchain technology, but it has also made it the best tool for illegal activities such as drug trafficking and money laundering. As Bitcoin enters the eyes of more and more people, criminals use their anonymity, tax exemption, and exemption from regulation to conduct illegal activities such as money laundering. How to better regulate the bitcoin trading market has become the focus of supervision of relevant departments of various countries. Previously, the "Silk Road" money laundering case broke out.
The US Consumer Financial Protection Agency (CFPB) warns about the risks of virtual currencies such as Bitcoin, including unclear costs, exchange rate fluctuations, vulnerability to hackers and spam attacks. CFPB believes that Bitcoin is still in an experimental stage, and that virtual currency accounts do not have government deposit insurance. Once there is a problem, no relevant departments will help, and users will be at their own risk.
The US Securities and Exchange Commission (SEC) clearly states that the risk of Bitcoin is that it may be used for fraud or high-risk investments. In terms of domestic regulation, on December 5, 2013, the five central ministries and commissions of the People's Bank of China issued the Notice on the Prevention of Bitcoin Risk (hereinafter referred to as the “Noticeâ€). The Notice prohibits financial institutions from providing bitcoin trading services, and Bitcoin. The Internet platform needs to fulfill its anti-money laundering obligations. A high amount of proof should provide proof of the source of legality of the funds.
In addition, you need to pay attention to the risk of fraudulent trading. The Bitcoin trading platform is “fierceâ€, and even “write a program to hang a transaction from 100,000 to 2 million.†This leads to the fact that ordinary investors are difficult to close even if they pay a high price, because the program sells itself and the bitcoin that is hanged can only be bought by the program itself. The market that is brushed out has hidden risks. Once the market conditions change, ordinary investors will become “chivesâ€.
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