1. Virtual currency does not have the same legal status as legal tender. The main features of virtual currencies such as Bitcoin, Ethereum and TEDA are that they are issued by non-monetary authorities and exist in digital form by using encryption technology and distributed accounts or similar technologies. They have no legal compensation and should not and cannot be circulated in the market as money.
2. Virtual currency related business activities are illegal financial activities. Legal tender and virtual currency exchange business, virtual currency exchange business, buying and selling virtual currency as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives trading and other virtual currency-related business activities are strictly prohibited, and illegal financial activities such as illegal sale of token certificates, unauthorized public issuance of securities, illegal futures business and illegal fund-raising are resolutely banned according to law. If carrying out relevant illegal financial activities constitutes a crime, criminal responsibility shall be investigated according to law.
3. It is also an illegal financial activity for overseas virtual currency exchanges to provide services to domestic residents through the Internet. Domestic staff of relevant overseas virtual currency exchanges, as well as legal persons, unincorporated organizations and natural persons who know or should know that they are engaged in virtual currency-related businesses and still provide them with services such as marketing promotion, payment and settlement, and technical support, shall be investigated for relevant responsibilities according to law.
4. There are legal risks in participating in virtual currency investment and trading activities. If a legal person, an unincorporated organization or a natural person invests in virtual currency and related derivatives, which violates public order and good customs, the relevant civil legal acts shall be invalid, and the losses arising therefrom shall be borne by them; Suspected of undermining financial order and endangering financial security, the relevant departments shall investigate and deal with it according to law.
Details of the notice can be found in official website, People's Bank of China.
Reply time: 202 1-09-27. Please refer to the latest business changes announced by Ping An Bank in official website.
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