Bitcoin can still be considered legal at present, and in the world, Bitcoin can be regarded as a virtual commodity and protected by law; but the legal status of Bitcoin as a “currency” has not yet been in any The state has established that this is where Bitcoin support needs to strive. If bitcoin cannot be officially recognized as a currency by law, it may cause inconvenience in tax declaration to the merchants and individuals who accept it, because merchants who accept bitcoin will be regarded as barter transactions, and this Tax transactions are more troublesome than ordinary transactions in tax declaration.
At the same time, Bitcoin, as a commodity that is highly similar to currency, needs to meet the demands of anti-money laundering. Bitcoin needs to be incorporated into personal property declaration, banking anti-money laundering systems, anti-insider trading, anti-market manipulation and other systems in terms of transactions and possession. Bitcoin exchanges and storage institutions may also require government supervision and licensing. Some fast-growing bitcoin exchanges and payment service providers are actively exploring cooperation with regulators, including applying for licenses and actively communicating with regulators to incorporate bitcoin payments into anti-money laundering and anti-terrorism Financing and other regulatory frameworks.
In China, the “RMB Regulations” stipulate that the production and sale of token tickets are prohibited. Since the definition of token tickets does not have a clear judicial interpretation, if bitcoin is included in “token tickets”, the legal prospects of bitcoin in China will face uncertainty. Notice of the Ministry of Culture and the Ministry of Commerce on Strengthening the Management of Online Game Virtual Currency (Wen Shi Fa [2009] No. 20) The “Notice” on June 4, 2009 stated that the scope of application of online game virtual currency was clearly defined for the first time. The current online game virtual currency is distinguished from the virtual props in the game; at the same time, the notice states that the “Notice” stipulates that enterprises engaged in related services need to be approved before they can operate. At the same time, strict regulations have been made on the scope of use of online game virtual currency: it cannot be used to pay for, purchase physical products or exchange any products and services of other companies, to prevent the possible impact of online game virtual currency on the actual financial order.
In Europe, the European Central Bank issued a “Virtual Currency Architecture” report, arguing that Bitcoin is neither an e-money rule nor a payment service rule. The Electronic Money Directive (2009/110 / EC) uses three standards to define electronic money: (1) It should be stored in electronic form; (2) The amount of funds issued is not less than the value of the issued currency; (3) Accept issuance Payment methods other than people. Bitcoin may meet the first and third criteria, but not the second. The Payment Services Directive (2007/64 / EC) stipulates that the funds used in the implementation of payment transactions are electronic money, but it does not supervise the issuance of electronic money or modify the prudential supervision provided by the electronic money system for the electronic money directive. Therefore, it introduced a new category of payment service providers-payment systems-but was not allowed to issue electronic money. Therefore, Bitcoin is clearly not within the scope of payment service instructions.
In the United States, the US Department of the Treasury ’s Financial Crime Enforcement System FinCEN released the “Regulations on the Application of Financial Crime Enforcement Network Regulations in Personal Management, Exchange, or Use of Virtual Currency” (FIN-2013-G001). The “Regulations” for the first time on March 18, 2013 In addition to cryptocurrencies, FinCEN regulations define currencies (also referred to as “real” currencies) as: coins or banknotes of the United States or other countries, which are designated as legal tender, are tradable, are usually issued by the country, and are used and accepted as a medium of exchange . Compared with real currency, virtual currency, as a medium of exchange, works like real currency in some environments, but it does not have all the properties of real currency. In particular, virtual currency does not have the status of legal currency in judicial power. This guide describes cryptocurrencies that are “convertible”. This type of virtual currency has the same value as real currency, or a substitute for real currency.
In August 2013, the German government officially recognized the legal and tax status of Bitcoin and became the first country in the world to officially recognize the legal status of Bitcoin.
Bitcoin can still be considered legal at present, and in the world, Bitcoin can be regarded as a virtual commodity and protected by law; but the legal status of Bitcoin as a “currency” has not yet been in any The state has established that this is where Bitcoin support needs to strive. If Bitcoin cannot …