Secondly, if rights are protected in our country, legal responsibilities are divided into criminal responsibility, civil responsibility and administrative responsibility according to our legal system. In China, the financing behavior of virtual currency issuance is prohibited, and there is no relevant regulatory agency. Investors can only pursue the criminal responsibility and civil responsibility of the corresponding parties.
1, criminal responsibility
However, assuming that there are situations that may involve criminal offences, such as online breaking or even late zeroing, futures trading being manipulated by the platform, etc., and in line with the provisions of China's criminal law on jurisdiction, the corresponding legal provisions should be applied in combination with their criminal acts.
According to the provisions of Articles 6 to 9 of the Criminal Law on the principle of criminal jurisdiction, China's criminal jurisdiction can be divided into the following four types:
(1) Territorial principle: unless otherwise specified by law, the criminal law of our country shall apply to crimes committed in People's Republic of China (PRC) (including ships and aircraft).
(2) Principle of personality: China citizens who commit crimes stipulated in this law outside the territory of People's Republic of China (PRC) are subject to the criminal law of our country, but if the maximum penalty stipulated in this law is fixed-term imprisonment of not more than three years, they may not be investigated. The criminal law of China is applicable to state functionaries and military personnel who commit crimes stipulated in this law outside the territory of People's Republic of China (PRC).
(III) Protection principle: If a foreigner commits a crime against our country or our citizens outside the territory of People's Republic of China (PRC), and the minimum penalty stipulated in this Law is fixed-term imprisonment of more than three years, the criminal law of our country can be applied, except those who are not punished according to the laws of the place where the crime is committed.
(4) General provisions: This Law shall apply to crimes stipulated in international treaties concluded or acceded to by People's Republic of China (PRC), where People's Republic of China (PRC) exercises criminal jurisdiction within the scope of its treaty obligations.
For example, there are illegal means to destroy the price of online virtual currency and manipulate the price of exchange virtual currency. Although virtual currency does not belong to the category of securities recognized by our country, it may also violate the crimes of illegally selling tokens and tickets, illegally issuing securities, illegally raising funds and financial fraud in our criminal law. Then investors can take measures such as reporting to the public security organs to safeguard their rights and interests.
2. Civil liability
In civil and commercial activities, we mainly follow the principles of equality, voluntariness, fairness, honesty and credibility. With the development of China's securities market, there have been many civil cases in which investors defend their rights against A-share companies. However, because China has not brought virtual currency into the category of securities, and there is no case of civil liability investigation for manipulating the price of virtual currency, it is difficult for investors to protect their rights through civil litigation.
In addition, based on the relativity of civil legal relationship, even though the underlying assets and projects of overseas IC0 projects are all in China, many structures have been built overseas, so it is difficult for investors to break through the relativity and investigate the actual project subject responsibility of IC0.