I won’t talk about the market today, but will take you to see two announcements!
September 4, 2017: Seven departments including the People’s Bank of China issued the “Announcement on Preventing the Risks of Token Issuance and Financing”, calling a halt to ICOs and classifying them as illegal financial activities.
On the same day seven years later, September 3, 2024: The People's Court issued the "Judicial Disposal of Virtual Currency Must be Standardized", suggesting that comprehensive guidance on the judicial disposal of virtual currency be issued as soon as possible to clarify its legal status, compliance requirements, asset disposal procedures and legal responsibilities.
The article points out that the standardization of judicial disposal of virtual currency is crucial to maintaining financial stability and promoting the healthy development of the market. According to statistics from the SAFEIS Security Research Institute, the total number of virtual currency crime cases in China in 2023 was 428, a decrease of 88.9% from 2022, but the amount involved increased sharply to 430.719 billion yuan, about 12.36 times that of 2022.
To address these issues, it is recommended that comprehensive guidance on the judicial disposal of virtual currencies be issued as soon as possible to clarify their legal status, compliance requirements, asset disposal procedures and legal responsibilities.
At the same time, the article calls for strengthening international cooperation to jointly respond to the global challenges brought by virtual currencies and lay a legal foundation for the development of the digital economy and digital finance.
Time has proven that this is the era of virtual currency, not the virtual currency of the era. Everyone will ride on the tide of this era.
Since you have read this far, please follow and like before leaving. I am Qingtian, an old investor who sincerely wishes you to get rich!