Bitcoin industry development within the regulatory framework

Bitcoin industry development within the regulatory framework

Bitcoin trading volume continues to rise China. According to reports, as of the five day of December 28th, denominated in dollars and RMB denominated bitcoin rose more than 18% and 20% respectively. While the November global bitcoin transaction volume more than 15 trillion yen ($12 million 760 thousand), an increase of 50%, than last month, Chinese large bitcoin exchange transactions accounted for 90% of the global total share.

Highly active but anonymous bitcoin transaction caused a lot of concern of Internet users, some people worry about bitcoin become money laundering, swap tool. Internet users believe that regulators need to keep up with, let bitcoin industry healthy development within the regulatory framework.

The trade expansion activity rose

Earlier media reports, the current domestic bitcoin trading platform to provide “currency” service, some single transaction amounted to tens of millions of yuan.

Some netizens pointed out that as early as 2013, a number of bitcoin insiders revealed that the domestic game player in this way for overseas friends, remit tuition and living expenses, there are also some game player through bitcoin, to transfer part of the assets. But when bitcoin volatility, market risk and policy direction is not clear, so tiny. Now, as more and more countries for bitcoin as a new currency denominated or recognized, bitcoin prices rose steadily, to improve the security of asset transfer.

Bitcoin can be convenient, freely convertible into legal tender, all at the same time, it is the most central banks as a commodity, rather than money, the commodity property can avoid part of the country’s capital control.” Netizen “Tianjin happy child”.

In addition, the netizen “Wu Jian” pointed out that, given bitcoin anonymity and tracing difficult characteristics, this part of the assets is easily concealed, but due to the lack of law, the state taxation departments to monitor, tax evasion is possible.

The prevention of illegal use and malicious speculation

According to the above concerns, some netizens believe that without excessive risk. “Now the domestic and foreign exchange have strict anti money laundering measures, including the real name authentication system, strictly limit the currency quota system, combined with the current exchange rate, so the implementation of money laundering bitcoin exchange time and capital costs are relatively high, is not a good channel. So is the swap.” Netizen “Wu Jian” wrote.

Netizen “Tianjin happy child” also pointed out that the central bank issued a document to define China as early as 2013 bitcoin virtual goods, and require financial institutions and Payment institutions shall not directly or indirectly, to provide other bitcoin related services etc.. 2014 reiterated the attitude of bitcoin, and suggest that bitcoin have anonymous, cross-border circulation and other convenient features that require financial institutions into bitcoin anti money laundering monitoring.

Although the illegal transaction behavior of the breed is not significant, but Internet users believe that the bitcoin industry need to develop in the regulatory framework, preventing them from being used for illegal purposes and malicious speculation. Netizen “JOCY” said that with the trading volume rose sharply, the introduction of crypto currency regulatory policy is more and more urgent, money laundering behavior must be pegged to the potential, strengthen consumer protection, virtual currency trading operators in a more formal regulatory framework under the.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

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