Hello everyone!
For the past few days, occasionally I've also participated in discussions about Resolution 05, mainly to criticize the viewpoints of the posts without daring to delve into the content of the resolution because I don't yet understand it thoroughly - how it looks like with eyes on both sides. Today, with some free time, I pulled out the full text of the resolution to read it and finally breathed a sigh of relief because this resolution is filled with mistakes, turning it into a nonsensical document, nothing more and nothing less. The reason for this is the existence of a dominant mistake, leading to a series of mistakes that follow.
This article of mine will only point out 1 fatal mistake, enough to liberate us, crypto players aka coin holders aka crypto enthusiasts, from this paper shackle. As for other mistakes, let them be, just let them be wrong, no need to help them fix the mess they intend to impose on us. Especially the main mistake should never be mentioned.
In item 2 of article 7, it is stated: "after a period of 6 months from when the first licensed cryptocurrency service provider is established, domestic investors trading cryptocurrency without going through a licensed cryptocurrency service provider by the Ministry of Finance will be subject to administrative violations or criminal prosecution depending on the nature and severity of the violation as prescribed by law". This is indeed a fatal mistake of the resolution because in reality we are not investors at all even though we often claim: "I invest in crypto" to sound sophisticated. This is not a matter of semantics but essentially, a crypto player is a customer, not an investor. For example, if you buy SJC gold, you are a customer, not an investor of SJC company. So why is there this misunderstanding? Formally, the stock trading market is quite similar to the cryptocurrency trading market. And the shareholder of a company is an investor, so by analogy, people also assume that those who hold crypto are investors, forgetting that "the robe does not make the monk". When we hold shares of a company, we are shareholders of that company, which means we are investors of that company. But when we hold BNB, we are merely customers of Binance, not shareholders aka investors of Binance. Mr. CZ is the investor of Binance. And because we are not investors, the "resolution 05" shackles they intend to impose on us are ineffective.
There will be 3 situations if this article of mine reaches the hands of state officials.
1. Your road, you walk, you walk... my road, I walk, I walk... They quietly test their cryptocurrency trading market and turn a blind eye to let us play on our Binance, resolution 05 only exists in the drawer of the desk. This is the ideal.
2. They try to adjust resolution 05. This situation is also not concerning. As I mentioned, there exists a main mistake so the more they adjust, the more mistakes they make. Too many words lead to failure, so I'll just summarize like that. However, this situation is a bit troublesome because they will not realize their mistake until they go to court. So before lawsuits occur, they will try to impose on us.
3. They shamelessly play by the jungle law: the law is the father, the father is the law. In this situation, everyone will have to handle it as they see fit.
Wish everyone a green weekend!
