Shenzhen legal experts suggest: escorting “digital currency” urgently needs high-efficiency and high-quality legislation

How to ensure the stability of “digital currency” in the digital economy era to prevent risks? On November 5th, experts from the legal profession in Shenzhen invited financial professionals to gather for the speculation of virtual currency transactions, the use of virtual currency to implement gambling, illegal operations, illegal fund-raising, fraud, pyramid schemes, money laundering, and participation in overseas virtual currency exchange business Other illegal and criminal activities, jointly actively explore how to “fill in the gaps and strengthen the weak points” in the new field of digital currency from a legislative perspective. The Shenzhen legal experts who participated in the meeting called for early regulation, early warning, and early prevention to escort the “digital currency”, which urgently needs high-efficiency and high-quality legislation.

Shenzhen legal experts suggest: escorting "digital currency" urgently needs high-efficiency and high-quality legislation

The theme of this event is “Focus on social hotspots and offer advice and suggestions for the construction of the rule of law in our country”. Co-sponsored by Guangdong Haibu Law Firm and Shenzhen Sinan Legal Affairs, undertook by Haibu Law Research Institute, Lei Xinping, Dean of Haibu Law Research Institute, as the speaker, he is entitled “The Urgency of Protecting my country’s Digital Currency Ecosystem through Legislation” , Proposed that to improve the ecological environment of my country’s digital currency, early legislation must be enacted, and the emphasis is on early regulation, early warning, and early prevention, so as to help resolve various risks. Legislation should be passed as soon as possible to regulate and restrict virtual currency speculation in addition to legal digital currency, and even use digital currency gambling, illegal operations, illegal fundraising, fraud, pyramid schemes, money laundering and other illegal and criminal activities, as well as the use of blockchain technology to carry out various financial disruptions. Order of illegal and criminal activities.

Shenzhen legal experts suggest: escorting "digital currency" urgently needs high-efficiency and high-quality legislation

Lei Xinping combined with the development history and status quo of my country’s digital currency, said that after Shenzhen launched the first digital RMB red envelope test in the country during the Spring Festival this year, cities such as Suzhou and Beijing have also launched a lottery to issue digital RMB red envelopes; then, the digital RMB is open to the public. The pilot projects include Shanghai, Hainan, Changsha, Qingdao, Dalian and Xi’an. After in-depth research, the Haibu Law Research Institute has learned about the emerging problems of my country’s digital currency ecology, such as virtual currency transaction hype, use of virtual currency to implement gambling, illegal operations, illegal fundraising, fraud, pyramid schemes, money laundering, and participation in overseas virtual Illegal and criminal activities such as the business of currency exchanges pointed out that the blind and disorderly development of my country’s virtual currency “mining” activities has brought signs of hidden risks, which not only has an adverse impact on the promotion of my country’s high-quality economic development and energy conservation and emission reduction, but also on us The national Internet information security brings hidden dangers. In response to the above-mentioned series of problems, we currently only use functional departments to issue some “departmental regulations” or “notices” and other normative documents for emergency management. To change the status quo, only by enacting legislation as soon as possible can we ensure the purification of the legal digital currency ecological environment, and we can achieve “there are laws to follow, laws must be followed, law enforcement must be strict, and violations must be investigated”.

Shenzhen legal experts suggest: escorting "digital currency" urgently needs high-efficiency and high-quality legislation

Shenzhen legal experts suggest: escorting "digital currency" urgently needs high-efficiency and high-quality legislation

Experts at the meeting suggested that to escort my country’s digital currency, there is an urgent need for efficient and high-quality legislation. To improve the ecological environment of my country’s digital currency, it is necessary to legislate early, focusing on early regulation, early warning, and early prevention, so as to help resolve various risks. At the same time, some technical details of my country’s digital currency issuance are required, such as the adoption of dynamic competition, a multi-scheme two-tier operating system, the role of the central bank, the main technical route, and the difference with the digital currency issued by the Group of Seven, data privacy protection, and districts. To conduct research on legal issues related to blockchain and distributed accounting technology, digital renminbi and cross-border payment issues, it is necessary to further pay attention to some issues that have arisen in the development and operation of digital renminbi. In the legislation, it is necessary to protect innovation and optimize supervision. Ensure the enforceability and operability of legislation. According to my country’s “Legislative Law”, the relevant departments of the State Council should first investigate the issues and contents of some “departmental regulations” or “notices” and other regulatory documents issued by various functional departments as described in this research report as soon as possible, and also fully study them. In addition to absorbing some rules of the European General Data Protection Regulation and laws and regulations related to the issuance of legal digital currencies in some other countries, administrative regulations are formulated through legal procedures and submitted to the National People’s Congress for legislation when the time is ripe.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/shenzhen-legal-experts-suggest-escorting-digital-currency-urgently-needs-high-efficiency-and-high-quality-legislation/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Leave a Reply