From the beginning of the non-regulatory, to some countries to recognize the legitimacy of Bitcoin and its trading activities, and then to some countries issued a risk warning, we can find that countries regulate Bitcoin more stringent, but now it has reached the regulatory escalation of the moment. , In addition to the United States, South Korea, Germany, Japan and other countries are also beginning to strengthen the regulation of bitcoin.Global regulatory storm has come to bitcoin, and the intensity is still increasing.
Multi-country bitcoin regulatory escalation
In the Asian region, some Indian banks, including the National Bank of India, suspended the trading of their local bitcoin exchanges, including the top ten exchanges, who found that there were suspicious transactions in these accounts and the banks also demanded that bitcoin exchanges Borrowing provides additional guarantees.
On January 8, the Chairman of the Financial Services Committee of Korea said at a news conference that it is conducting a joint inspection with six banks providing encrypted currency accounts with the Korea Financial Supervisory Authority to verify that the previous anti-money laundering regulations and related accounts adopted a real-name system January 11, according to foreign media reports, the South Korean Ministry of Justice is preparing legislation for the complete closure of the domestic exchange to pave the way after the January 10, South Korea's two exchanges Bithumb and Coinone by the Internal Revenue Service Blitz checks, the measure is also considered to verify the exchange for the existence of tax evasion and financial transactions.
In addition, South Korea from January 30 onwards, digital currency exchange existing accounts to real-name confirmation account can be approved after the transaction, the new user account must be real-name authentication.According to the relevant provisions, even through the real-name certification, foreign investors And minors under the Korean Civil Code are unable to conduct digital currency transactions.
Japan's largest digital money theft in history hit a new loss of about 530 million U.S. dollars (XEM) on January 26. Japan's financial services agency ordered Coincheck, the exchange company, to submit a report on hacking, Management and investigation of measures to prevent recurrence of similar incidents, and said that the security of the digital currency exchange was investigated.
Recently, German Finance Minister Peter Altmeier and French Finance Minister Bruno Lemere jointly held a press conference in Paris, saying that this year's G20 summit in Argentina will jointly promote the global regulation of Bitcoin, Will warn that the world's most popular cryptocurrency is being exploited by unlawful groups.
The Nordic Union Bank, the largest bank in the Nordic region, recently issued a ban requiring employees to stop bitcoin and other cryptocurrencies trading from February 28 this year; the Indian tax department said on January 22 that in a nationwide survey of India for 17 months Of the cryptocurrencies more than 3.5 billion U.S. dollars, issued a tax notice to hundreds of thousands of people; South Korean financial regulators announced that as of January 30, the use of anonymous bank accounts for encrypted currency transactions will be banned.
Platforms and regulators are facing important problems
Some analysts pointed out that whether the United States, Japan, Britain, Germany and other countries have regarded it as an asset or virtual currency, or Russia and other countries that prompt the risk of the Bitcoin is still unable to accurately judge, in the end it should be attached to the 'Securities 'Or "financial assets" or "currencies." Under the current regulatory framework of the two countries, the financial regulatory systems of all countries are either "separate" or "mixed", it seems that they can not be supervised and managed effectively.
In the opinion of Xue Hongyan, an Internet finance researcher at Suning Financial Research Institute, bitcoin itself is innocent, but a series of traits derived from bitcoin really plagued the real world. For example, the benchmarking effect of soaring prices triggered a virtual currency bubble and the market is still small. Are manipulated and their semi-anonymity facilitates the criminal activities. The cross-border circulation characteristics affect the effectiveness of domestic foreign exchange policies, their payment instrument features and even potential threats to the legal tender.
On October 16, 2013, the famous U.S. drug and weapon crime website 'Silk Road' was investigated and dealt with by US regulators, involving extensive use of bitcoin transactions. In April 2017, the bitcoin Ransacks virus swept the globe. In addition, The world's hundreds of millions of dollars of money laundering, foreign currency to flee, the use of bitcoin can not be tracked, anonymity and so on.
On the trading platform, there are also risks. On February 28, 2014, Mt.Gox, the world's largest bitcoin exchange, claimed a total of 850,000 bitcoins were lost, including about 75 of the user's trading account Million bitcoin, and about 100,000 bitcoin in the account of the site's owner. The Bitcoin trading platform GBL, registered in Hong Kong, ran abruptly in 2013, causing millions of registered users of bitcoin to be lost.According to statistics, From 2010 to the present, the Bitcoin trading platform collapsed by up to 50% in a few years.
'The unqualified entrants of the Bitcoin trading platform, the unsafe trading system and the stateless registration of the trading platform led to the fragile vulnerability of bitcoin, the so-called' anarchist 'monetary minority, Risky, "Zhongnan University of Economics and Law Industrial upgrading and regional financial Collaborative Innovation Center, researcher Li Naihong in the" Securities Daily "interview that the tax collection, how to carry out circulation management, has become placed in the various platforms and regulatory Department of the important problems.