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Li Gui: Counterfeit legal digital currency involved in punishment



With the launch of the central bank's digital currency DCEP pilot, the public has some awareness of the general trend of centralized digital currency promotion, but they have little understanding of the implementation of DCEP. Recently, some lawbreakers have borrowed the policy background of DCEP to mislead the public and absorb deposits with the slogan of enjoying the national digital currency dividend.

In a promotion group called "Central Bank International Big Wallet", the administrator said that as long as they participate in the promotion and pull people to download and register "Central Bank International Big Wallet", there will be profits. The reason is that "in order to promote the use of DCEP, the state has allocated a total of 1.2 trillion promotion incentive funds, 800 billion international and 400 billion domestic policy rewards to individuals and enterprises that have been promoted and used in advance."

According to the "Detailed Explanation of Central Bank's International Wallet Promotion" provided by the group, the main domestic promotion targets are private enterprises and private enterprises. The specific operation is that the legal person of the company first registers the "Central Bank International Big Wallet" with its mobile phone number, and then goes to the account opening bank to open the DCEP payment function of the public account, binds the public account with the "Central Bank International Big Wallet", and allows the company's The upstream and downstream enterprises replicate this operation layer by layer.

Ouyi OKX won the LinkedIn 2022 Global Attractive Employer Award: According to official news, on December 21, Ouyi OKX won the MostIn2022 Global Attractive Employer Award issued by LinkedIn. Ouyi OKX is the only award-winning Web3 technology company on this list. The 2022 Global Attractive Employers Award issued by LinkedIn aims to select and honor the pioneering companies with the most talent attraction and brand influence in the world. The award-winning companies include Tencent, Alibaba, ByteDance, Huawei, Tess Pull China, Ouyi OKX, etc.

According to previous reports, Ouyi OKX employees are distributed in more than 50 countries and regions. Ouyi OKX has announced a 30% increase in enrollment, bringing the total number of people in the team to 5,000. [2022/12/22 22:01:17]

Specifically, when a company sells goods, it first issues an invoice to the downstream company, and the downstream company needs to pay the company using DCEP. After the other party pays DCEP to the company's account to complete the transaction, within 24 hours the company's "central bank international wallet" will receive a 2% dividend (20% after tax) from the central bank.

A16z Chief Legal Officer: Regulators have missed the core issue of regulating Web3: Jinse Finance reported that A16z Chief Legal Officer Jai Ramaswamy spoke at the first day of the conference "Rational Regulation of Web3: A Rare Opportunity" and said that Regulators missed the regulation of Web3 core issue. Providing context for today's regulatory environment, Ramaswamy explained that cryptocurrencies tend to come into contact with three main areas of regulation: illicit financial regulation, capital formation and market integrity, and financial stability factors.

However, he warned that the development of additional protocol layers clearly has very profound implications for financial services built on the current Internet backbone, and will have wider implications on a global scale. These effects will span technology, technological diplomacy, foreign relations, and the shape of the U.S. economy. I don't think policy makers and regulators are fully involved. Tensions have arisen in the space between innovation and compliance due to the nature of the "multi-layer technology stack" that is increasingly merging with the financial stack. [2022/10/24 16:37:12]

In fact, as early as November 13, 2019, the People's Bank of China issued and implemented the "Announcement on Issuing or Promoting Legal Digital Currency in the Name of the People's Bank of China" stating that: The People's Bank of China began to study legal digital currency in 2014. Still in the process of research and testing, "DC/EP" or "DCEP" in the market is not a legal digital currency, and the launch time of the legal digital currency is not accurate. announced the launch of STEPN (GMT): Jinse Finance reported that officially announced the launch of the Web3 M2E application STEPN native Token GMT, allowing users to use US dollars, euros, pounds, etc. to purchase, and can also use Visa cards worldwide Spend at more than 80 million merchants. [2022/9/22 7:14:50]

As of today, the People's Bank of China and other financial regulatory authorities or relevant legislative bodies have issued normative documents on the central bank's digital currency, which are still limited to legal digital currency pilot areas and pilot projects.

Combined with the "Work Plan for Promoting the Construction of "Two Districts" in the Financial Sector" issued by the Beijing Local Financial Supervision and Administration Bureau, the "Implementation Plan for Deepening Reform and Opening-up in the China (Zhejiang) Pilot Free Trade Zone" issued by the Zhejiang Provincial People's Government, and the Guangdong Provincial People's Government issued The "Guangdong Province Construction of a National Digital Economy Innovation and Development Pilot Zone Work Plan" and other documents tailored to local conditions, the implementation of my country's legal digital currency pilot work is led and implemented by local governments or local financial regulatory agencies, and has not yet reached the stage of "promotion" , In the absence of endorsement from official institutions, claiming to be authorized to organize and implement digital currency promotion projects is fraudulent.

Lotte Group subsidiary will invest about $3.84 million in Blocko: According to news on July 7, Blocko, a blockchain infrastructure provider, confirmed that Lotte Group’s marketing subsidiary has decided to invest 50 million dollars in it after two months of due diligence. billion won (about 3.84 million U.S. dollars). The article stated that the investment is expected to promote the listing process of Blocko on the Korean exchange KOSDAQ.

It is reported that Blocko was established in 2014, and its core business is the custody service provider business. In 2018, it developed the blockchain main network Aergo and issued the cryptocurrency AERGO with the same name. [2022/7/7 1:57:38]

The nature of the behavior of the actor to promote the "central bank international wallet" and invite the public to download the software may involve criminal offenses, and the charges depend on the possible business models at different stages, specifically:

First, since the "central bank's international large wallet" does not have the authorization and endorsement of state agencies, the central bank's digital currency has not yet entered the promotion stage, and the perpetrators use fictitious facts to make users fall into misunderstandings, which meets the constituent elements of fraudulent behavior. If the user pays funds to the "central bank international wallet" based on this and converts it into the so-called central bank digital currency, the aforementioned behavior will comply with the crime of fraud in Article 266 of the "Criminal Law of the People's Republic of China", and the perpetrator may therefore He was held criminally responsible for fraud.

Second, the perpetrator violated financial management regulations by promoting its "central bank international wallet" software on social media, while promising high returns. If the actor allows the funds of an unspecified majority of the society to enter its software (including possession due to time mismatch), his behavior will comply with Article 1 of the Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Law in the Trial of Criminal Cases of Illegal Fund-raising The perpetrator may therefore constitute the crime of illegally absorbing public deposits under Article 176 of the Criminal Law of the People's Republic of China. If the perpetrator commits an act that has the purpose of illegal possession of funds, such as absconding with money, the crime may be upgraded to the crime of fund-raising fraud in Article 192 of the Criminal Law of the People's Republic of China, which has a more severe sentence.

Third, the actor has a publicity statement of "participating in promotion and inviting people to register to enjoy dividends", and the content-zce of the statement about "the central bank's international wallet" is not true. For example, after inviting people to register, old users can receive funds when new users inject funds. A certain percentage of remuneration, and users or administrators who introduce old users to join can also get a certain amount of remuneration for this, the actor as an organization or leader may constitute one of Article 224 of the "Criminal Law of the People's Republic of China" The crime of organizing and leading pyramid selling activities as stipulated.

Fourth, the perpetrator allowed different subjects to use the "central bank international wallet" developed by him for payment and settlement of business transaction funds without the permission of the financial regulatory department or relevant institutions. "In the second half of the third paragraph of Article 225 of "Illegally engaged in fund payment and settlement business", the perpetrator may therefore constitute the crime of illegal business operation.

When encountering a project named DCEP in the blockchain field, Sister Sa's team gave the following suggestions:

First of all, investors should require the project party to provide endorsement documents and operating qualifications, or query and retain such documents on its public website or software.

Secondly, investors should take the initiative to inquire and verify the authenticity of the project with the corresponding regulatory authority in this field according to the aforementioned documents, and the written reply shall prevail.

Finally, investors should pay attention to the state agencies in the corresponding field of the project and the regulatory documents issued by them, and infer the real possibility of the project based on common sense.

The central bank's digital currency is still in the pilot stage, and many elements are still unclear. Sister Sa's team hereby reminds everyone not to be fooled by the scam under the guise of DCEP. The centralized digital currency should be based on the information issued by official institutions.


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