The Notice requires that financial institutions and payment institutions shall not price products or services with Bitcoin, buy or sell Bitcoin as a central counterparty, underwrite insurance business related to Bitcoin or include Bitcoin in the scope of insurance liability, and shall not directly or indirectly provide customers with other services related to Bitcoin, including: providing customers with services such as Bitcoin registration, trading, clearing and settlement;
Accept bitcoin or use bitcoin as a payment and settlement tool; Carry out bitcoin exchange services between RMB and foreign currency; Conduct bitcoin storage, custody, mortgage and other businesses; Issuing financial products related to Bitcoin; Take Bitcoin as the investment target of trusts, funds and other investments.
In view of the high risk of money laundering and the risk of being exploited by criminals, the Notice requires relevant institutions to effectively fulfill their legal anti-money laundering obligations such as customer identification and suspicious transaction reporting in accordance with the requirements of the Anti-Money Laundering Law of People's Republic of China (PRC), so as to effectively prevent money laundering risks related to Bitcoin.
Risks of Bitcoin:
The so-called "virtual currency" such as bitcoin lacks a clear value base, and the market has a strong speculative atmosphere and the price fluctuates violently. Investors blindly follow the trend of speculation, which is easy to cause financial losses. Investors need to strengthen their awareness of risk prevention. It is worth noting that so-called "virtual currency" such as Bitcoin is increasingly becoming a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities. Investors should be vigilant and report the case immediately when they find clues about illegal and criminal activities.
Investors participate in speculation through so-called "virtual currency" trading platforms such as Bitcoin, facing the risk of large price fluctuations and security risks, and the technical risks of the platform are also high. There have been many incidents of hacking and theft of trading platforms in the world, and investors must bear their own investment risks.
Criminals often use trading platforms to obtain so-called "virtual currency" to engage in related illegal activities, which has great legal risks. Recently, a large number of trading platforms have been suspended by the regulatory authorities for supporting the financing activities of token issuance (ICO). Various so-called "currency" trading platforms have no legal basis in China.
Refer to the above? The People's Bank of China-five ministries and commissions issued the Notice on Preventing Bitcoin Risks.
Refer to the above? People's Network-Bitcoin and other virtual currencies have become illegal and criminal tools for money laundering and illegal fund-raising.