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The supervision of virtual currency was increased, and blockchain we media was "destroyed"

Time : 13/07/2022 Author : nt1bwf Click : + -
        Since September 4 last year, China's ICO has gradually subsided, but since January 2018, many so-called blockchain projects have moved overseas to raise funds for Chinese citizens, and then issue ICO overseas. This situation is getting worse and worse, leading to increased regulation by regulators. "You should note that a large number of blockchain self media will soon be blocked. Involving currency prices, including bitcoin, Ethereum … …" At more than 3 p.m. on August 21, such a message appeared in many blockchain industry media wechat groups. For a time, the whole industry was trembling, speculating on the credibility of this information, the next trend of regulators and their own destiny.
 
        A few hours later, the "ban" action was implemented. On the evening of August 21, many blockchain media official account, such as golden finance, coin world, cannon rating, and Shenzhen chain finance, showed that the account violated the Interim Provisions on the development and management of instant messaging tools public information services, and had been ordered to block all content and stop using it. As a result, blockchain media, blindfolded and running after the Spring Festival, shivered in the roaring rhythm of the ban, and felt the chill of late autumn in advance: first, Tencent and ant financial services, the two giants, expressed their position to cut off the off-site payment channels of virtual currency, and then on the afternoon of August 24, the CBRC Five ministries and commissions including the central office of cyberspace and information technology jointly issued the "risk tips on preventing illegal fund-raising in the name of" virtual currency "and" blockchain ".
 
        Experts believe that since January 2018, many so-called blockchain projects have moved overseas to raise funds for Chinese citizens, and then conduct ICO overseas. This situation is getting worse and worse, leading to increased regulation by regulators. On the night of August 21, when reporters at the rule of law weekend tried to open previous articles on official account such as golden finance and deep chain finance, they all showed that "this account has been blocked and the content cannot be viewed". The reason for shielding is "after receiving relevant complaints, this account is suspected of violating the Interim Provisions on the development and management of instant messaging tools public information services". On the evening of the 21st, the official microblog of Huo coin information said that after some netizens' feedback, a number of official account of the industry's leading media, including coin world, Golden Finance and deep chain finance, were suspended, which was preliminarily determined to be the unified behavior of wechat official account's operation policy on the industry's media.
 
        "Among them, the official account operated by our company, such as Huo coin information, is also affected. The closure of wechat official account will not affect the normal operation of its other businesses". Although the official account of these blockchain media have been blocked, the reporter of rule of law weekend noticed that the accounts on its official website, Weibo, app and other we media platforms are still operating normally. "Only official account is blocked this time. Who knows if the website will be blocked next?" In the wechat group of a blockchain media person, many people made the above exclamation. Filled with anxiety, several blockchain media that were lucky to escape the disaster began to apply for registration of standby official account, and discussed the necessity of developing apps.
 
        Unlike most blockchain media, a few blockchain media regard wechat's move as a rare opportunity. On the night of August 21, blockchain media shouted in the circle of friends: "@ blocked media, come to × × open a column, and millions of user traffic support … …". Yang Hui (a pseudonym), the founder of blockchain media, which is still in normal operation, told the reporter of rule of law weekend that it is likely that blockchain media endorsed some ICO projects, which are actually air coins or MLM coins.
 
        "Some blockchain media even issue money and publicize by themselves. These chaos should be cured long ago." Yang Hui pointed out that blockchain media is mixed and chaotic, leading to the demonization of the entire industry. "Although everyone is worried now and doesn't know what will happen tomorrow, to be honest, we also hope that this governance can purify the entire industry.". At the end of 2017, the currency price soared, and blockchain became the focus of public opinion. The sensitive blockchain media ran into the market. In just a few months, hundreds of blockchain media mushroomed and gained the favor of capital. According to incomplete statistics, the outbreak of blockchain media financing is concentrated from February to March this year, and the financing amount is mostly in the level of millions, tens of millions, or even hundreds of millions.
 
        At the same time, the chaos of blockchain media has gradually entered the public's view. As early as April this year, blockchain media was exposed to publish an article for 100000 yuan, but the click through rate was only 200 times; Moreover, many well-known industry media were accused of using articles to manipulate the market and deceive readers. "Blockchain media are mostly we media. Many blockchain we media's profit model is to send some soft messages of ICO and advertise them in disguise; or help the proxy investment to shout orders. The so-called shout orders is actually to raise the market price of a certain virtual currency. In short, many blockchain we media's profit model is to cut leeks, deceive consumers, and hide huge risks.
 
        Therefore, blockchain we media cannot escape this round of rectification storm. " Deng Jianpeng, Professor of the Law School of the Central University for nationalities, said. "It is said that only the first batch was closed on the 21st, and the second batch will be closed soon. Now everyone is in danger." Yang Hui told the rule of law Weekend reporter, "I really hope that those who govern are blockchain media that publicize and endorse the ICO project. After all, blockchain media are still doing things in a down-to-earth manner.". On August 23, in an article forwarded by the financial highlights column of the China Mutual Fund Association, a person close to the national Internet finance regulation office said that it was necessary to continue to strengthen the clean-up and rectification efforts from the payment and settlement side. Guide relevant payment institutions to strengthen the management of payment channels, customer identification and risk warning, establish a monitoring and screening mechanism, and stop providing payment services for suspicious transactions.
 
        On August 23, Tencent said that it had cleared all virtual currency transactions using merchant numbers. Its main measures include: restricting the collection function of the platform's collection account and prohibiting it from using wechat payment for virtual currency transaction collection; Limit the collection amount of personal seller account, only meet the daily social business use, and limit the collection of virtual currency related transactions. At present, all virtual currency transactions using merchant ID have been cleared; Carry out real-time monitoring of daily transactions, and assess the risk severity of ongoing transactions. In serious cases, direct interception may be taken. On August 24, ant financial revealed that Alipay would take measures to restrict the collection function of the account or even permanently restrict the collection according to the circumstances for personal accounts suspected of virtual currency transactions.
 
        Next, Alipay and ant financial will continue to closely monitor and investigate OTC transactions involving virtual currencies, and establish a patrol system for key websites and accounts. Deng Jianpeng believes that the interception of the payment end is mainly aimed at the OTC transactions of virtual currencies. Since the central bank and other seven ministries and commissions jointly issued the "announcement on preventing the financing risks of token issuance" on September 4 last year, domestic virtual currency exchanges have been basically eliminated, most exchanges have moved abroad, and over-the-counter trading has also become the main channel for legal currency trading. That is, the virtual currency trading platform provides guarantee and matching services, and both parties conduct transactions through Alipay, wechat, bank cards and other means. "The two Payment institutions cut off the off-site payment channels, which can easily create obstacles to the off-site illegal transactions, and to a certain extent, it can reduce the feasibility of transactions.
 
        However, it is difficult to judge whether OTC trading can be completely blocked. It also depends on the time and final effect of its persistence. " Deng Jianpeng told reporters of rule of law weekend. After Tencent and ant financial cut off the off-site payment channels of virtual currency, baidu also joined in the comprehensive blockade of the currency circle. The reporter noticed that in the past, the lively coin circle bar, digital currency bar, virtual currency bar and other post bars were all banned, and even some unknown coin items post bars disappeared. On August 22, the office of the leading group for financial and social risk prevention and control in Chaoyang District, Beijing issued a notice requiring shopping malls, hotels, hotels, office buildings and other places not to undertake any form of virtual currency promotion and publicity activities.
 
        On August 23, the Jiangsu Provincial Finance Office comprehensively sorted out all kinds of financial risks in the province, sent letters to 13 district and municipal governments respectively, reminding them of risks including specific risk points, and urged them to file and deal with them one by one. Virtual currency, ICO and campus loan are within the scope of rectification. On the afternoon of August 24, five ministries and commissions including the China Banking and Insurance Regulatory Commission, the central Internet Information Office, the Ministry of public security, the people's Bank of China and the State Administration of market supervision jointly issued the "risk tips on preventing illegal fund-raising in the name of" virtual currency "and" blockchain ". The document pointed out that recently, some criminals have been absorbing funds by issuing so-called" virtual currency "," virtual assets "and" digital assets "under the banner of" financial innovation "and" blockchain ", Infringe upon the legitimate rights and interests of the public.
 
        Such activities are not really based on blockchain technology, but hype the illegal fund-raising, pyramid selling and fraud of blockchain concept banks. According to media reports, this is the first time that the Ministry of public security has appeared in the official documents regulating virtual currencies, ranking behind the China Banking and Insurance Regulatory Commission and the central Internet information office. This is also the first time for someone to raise venture capital under the banner of "blockchain" in addition to "virtual currency". "The so-called blockchain industry media, blockchain financing projects and so on are mostly fund-raising fraud. According to our research, the proportion of projects with the real fund-raising fraud under the cloak of" blockchain "can reach more than 80%. This behavior has seriously disrupted the financial order and infringed on the property rights and interests of Chinese citizens. Therefore, the intervention of the Ministry of public security is of great value and significance.
 
        ”Deng Jianpeng said. Deng Jianpeng told reporters of the rule of law weekend that the reason for the increase in regulation at this time is that since September 4 last year, China's ICO has gradually subsided. However, since January 2018, many so-called blockchain projects have moved overseas to raise funds for Chinese citizens, and then issued ICO overseas. This situation is getting worse and worse, leading to increased regulation by regulators. According to a person close to the office of the national Internet financial risk special rectification group, in order to consolidate the results of the special rectification work and prevent and resolve financial risks, the relevant departments will further take targeted rectification measures to maintain financial order and social stability in the next step.
 
        Specifically, necessary control measures will be taken for 124 virtual currency trading platform websites whose servers are located abroad, but which essentially provide trading services to domestic residents; Strengthen the disposal of new domestic ICO and virtual currency transaction related websites and official account; Starting from the payment and settlement side, we will continue to strengthen the clean-up and rectification efforts, and require third-party payment institutions to strictly implement the requirements that they should not carry out businesses related to bitcoin and other virtual currencies. Sheng Songcheng, former director of the investigation and Statistics Department of the people's Bank of China and counselor of the Shanghai Municipal People's government, said recently that the rapid development of ICO has attracted the attention of regulators. According to the traditional law, ICO has the function of crowdfunding and raising capital, and there is a great potential risk if it is allowed to develop without supervision.
 
        A large number of unpromising projects are even deceptive in themselves, which not only makes investors bear huge risks, but also makes the real blockchain entrepreneurial team complain a lot, actually causing the adverse consequences of bad money driving out good money. "The strong supervision of government departments is good for the blockchain industry. By governing ICO and expelling digital bad currency, the development of blockchain can be more stable." Sheng Songcheng predicts that China will be more strict in the supervision of ICO projects in the future.
 
        
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