canadian jewelry wholesalers What is the situation of ICO being included in the supervision?

mosaico jewelry wholesale On August 28, an insider of the Securities Regulatory Commission confirmed to reporters that the recent hot ICO has attracted the attention of the regulatory level and is currently preparing various materials. "At present, the risk of ICO is very high. In the long run, it must be included in supervision."
It reported by Caixin, the relevant regulatory authorities will take action on ICOs. Whether the banned plan is under discussions, and the central bank and the Securities Regulatory Commission are participating in it. The law of this operation is based on the Measures for the ban on illegal financial institutions and illegal financial business activities promulgated in 1998.
The reporter learned from an industry insider that many departments, including the central bank's financial market department, have studied the ICO, but there are still some related issues to be resolved.
The industry insiders revealed that on August 18th, the Central Bank, the CSRC, and the CBRC organized ICO for special symposiums, and this incident was interpreted as "iconic incidents" in the industry. It was only a matter of time in supervision.
Wat the supervision is not determined
On July 25 this year, the US Securities and Exchange Commission (SEC) issued a report on The DAO to determine that its tokens were securities (). The behavior of securities, whether it is real currency purchases or tokens distributed by blockchain technology, must meet the US Securities Law.
The main responsibilities of the financial market department of the financial market of the central bank include the development plan for the development of the financial market, coordinating the development of financial markets, and promoting financial product innovation. And the gold management measures and organize the implementation of RMB management and anti -fake currency.
. Another CSRC revealed that according to the regulatory practices of the US Securities Regulatory Commission, ICO was qualitatively issued by securities. Therefore, if China draws on it, it should also be supervised by the CSRC. However, the digital currency in China is supervised by the central bank. Therefore, the central bank and the Securities Regulatory Commission are jointly studied. In the end, who has not been determined.
In the first half of the year ICO raised 2.6 billion
Since the first half of this year, the explosive growth of ICO projects raised by virtual currencies in China has caused controversy for illegal fundraising for ICOs.
In reports issued by the National Internet Financial Security Technology Expert Committee, since 2017, the cumulative financing scale of ICO projects completed through various platforms has reached 63523.64BTC, 852753.36ETH, and some RMB and other virtual currencies. Conversion at a price of 00:00 on July 19, 2017 was equivalent to RMB 2.616 billion. Cumulative participants reached 105,000.
On August 24, the CBRC provisions for the first time raising funds for virtual currencies. The CBRC drafted the "Draft of the illegal fund -raising regulations (draft for comments)" (hereinafter referred to as soliciting opinions) pointed out that: without permission to violate the relevant state regulations in accordance with the law or violates the relevant state regulations, the act of raising funds in the name of virtual currency shall conduct an illegal fund -raising administrative investigation. Illegal fund -raising participants shall bear their own losses due to participation in illegal fundraising.
It reportedly reported that Huo Xuewen, director of the Beijing Municipal Finance Bureau, pointed out at a closed -door meeting that any "activity of other people's money" should be included in supervision.
Wu Xiaoling, deputy director of the Standing Committee of the National People's Congress, deputy director of the Standing Committee of the National People's Congress and the director and dean of the Wudaokou Finance College of Tsinghua University, also publicly pointed out that from an international perspective, the United States has currently supervised ICOs as securities varieties. The People's Bank of China has also made a corresponding statement than Bitcoin (pointed out that Bitcoin does not have currency attributes), and it is expected that further regulatory measures will be introduced.
The blockchain practitioners said that "blocking is worse than sparse", supervision is expected, but if it is fully denied, some companies will inevitably move the ICO abroad.
4 Ask ico
1, should Ico be included in supervision?
The CEO of Paper Technology, Tang Ling, the leader of Mo Chain, told reporters that ICO should be included in supervision. Under the demonstration of wealth effects, there are currently too many "MLM coins" and "air currency". Many projects have been able to raise funds without determination. Investors are crazy and risky.
The director of the China Science and Technology Finance Law Research Association, Xiao Yan believes that the National Financial Work Conference emphasizes that to strengthen the "professionalism, unity and penetration" of financial supervision, all financial businesses must be included in supervision. ICO should also be included in supervision. Financial innovation has vitality only in accordance with laws and regulations, and any violations and abuse will be counterproductive.
Li Lin said that because the current ICO financing has not been regulated in the use of funds, the money after financing is a mystery. He suggested that supervision should pay attention to the appropriateness of investors.
2, how should ICO be supervised?
okcoin Vice President Tian Ying believes that the supervision of ICO is the first to clarify the determination of law. Registration management of ICO enterprises, open and transparent custody management of tokens raised by ICO, the project initiator, token circulation platform, and third -party propaganda agency, the authenticity of the project needs to be strengthened to increase investor risk education. Effectively control risk. These regulatory methods can be executed after qualitative. There are also many legal experts suggest that referring to the financial technology sandbox supervision system implemented by the United Kingdom and Singapore to minimize the contradiction between innovation and risks.
For how to supervise, Tang Ling suggested setting up project review and diligence. At present, the ICO project is a "self -examination self -examination". Although the agency platform will also be reviewed, there is no record. At the same time, funds should be set up. In the early stage, some media revealed that individual platforms took funds to precipitate to buy wealth management products. This is caused by no funds custody. In addition, standardized management, do not complete funds for one time. Many entrepreneurs have not seen so much money, and they don't know how to spend, it is easy to have problems.
Xiao Yan believes that the specific supervision is: product registration, information disclosure, asset custody, project real, qualified investment.
"Registration of product filing is an effective method for regulatory agencies to understand and monitor high -risk financial business; information disclosure is a conventional solution that can make the project more transparent; asset custody and prevent cases involved in public; Fang's minimum requirements; qualified investment matching risks with investors to match and restraining speculative funds. "Xiao Yan said.
3, where is the difficult point of ICO supervision?
Tang Ling said that the difficulty of supervision is that many platforms can now ICO through smart contracts, especially through Ethereum projects. They can be raised by themselves without passing the platform. There are more private equity behaviors and high risks.
Tian Ying believes that the nature of ICO is a difficult point in promoting supervision. ICO is a bit similar to crowdfunding, but it is not exactly the same as crowdfunding. The US SEC announced the results of the survey of The DAO tokens a while, and believed that the tokens had the category of securities and the scope of the supervision of the supervision law. This judgment is also the result of spending a lot of time research and analysis in the United States regulatory. There are some non -securities tokens that may be expected to get the right to use certain products, which is not the category of securities.
. She believes that ICO is an Internet product. Some ICO projects are operated by globalization. During the management process, international coordination needs to be enhanced. Also, to what extent the strength of supervision.
Xiao Yan said that there are differences in the industry for the essence of ICO. If the essence of ICO is characterized as "changing things with things", it can be explained with a special virtual currency in exchange for another special virtual currency.
If the ICO project directly raise "fiat currency", including RMB, USD, euro, etc., it can be understood as the "deposit" of illegally absorbing public deposits. Once it meets the requirements of Article 176 of the Criminal Law Constitute a crime.
Xiao Yan believes that if the ICO project has a dividend clause, there is an equity sign. If the project has the repurchase clause, it is suspected of "guaranteeing capital and insurance", similar to wealth management products, no license to issue wealth management products, which is actually actually It is an illegal operation. In judicial practice, if illegal operation is difficult to define, the above behavior is likely to be identified as MLM. Many ICO projects have promoted rewards during the promotion process, such as "pulling an investor to return to our currency."
4, the impact of supervision on ICO?
The Chu Xiahu CEO of Yuyuanjie Tieye told the Beijing News that the regulatory level should regulate the development of ICO, especially the establishment of a "qualified investor system", because many ordinary investors do not have high risk bearing capabilities and should not should not be able to bear the ability. Participate in such high -risk projects. Without a qualified investor system, it is easy to cause social problems.
On the impact of supervision, Tian Ying said that in the short term, it is impact on the current market. In the long run, it is conducive to the sustainable and healthy development of the entire digital asset industry. On the other hand, supervision will also make high -quality projects show its value.
The research report of Huachuang Securities believes that the innovation trend of ICO is worthy of attention. In the long run, as its influence is getting greater and greater, accepting supervision can promote the healthy and orderly development of the industry. The ICO platform or project with strong strength is expected to be the first to embrace supervision, balance innovation attributes and potential risks, and become the beneficiary of ICO's future development.

wholesale jewelry in dallas tx On September 4, the central bank and seven ministries and commissions issued an announcement to qualify the ICO: the first token issuance (ICO) was essentially unpaid and illegal public financing. It should stop immediately.

wholesale sterling silver teacher jewelry According to Caixin reports, the relevant regulatory authorities will take action on ICO. Whether the banned plan is under discussions, and the central bank and the Securities Regulatory Commission are participating in it. The law of this operation is based on the Measures for the ban on illegal financial institutions and illegal financial business activities promulgated in 1998.