Three years of trading coins for nothing, the bus goes straight to Guangdong. The child is determined to leave the countryside, working night shifts in the electronics factory. Tears soak the pork knuckle rice, vowing to earn one million. At the end of the month, I got two thousand five, opening the contract is just gambling. Whose child cries every night, where can you find gamblers losing every day? After ten years of working, still just a worker, all in one night living in a palace. If the big pie falls again, I will add more, trying to turn the tide, life is hard. In the end, I lost everything, can't tighten the screws in my hand. No matter how scary the factory manager is, it won't affect plugging in the power strips. A bowl of braised beef noodles, after eating I still have to go to the assembly line. Working in the assembly line for three years, enduring hardship and laboring towards dreams. After three years of hard work, I saved eighty or ninety thousand before the year ends. Angrily asking the factory manager for resignation, opening Binance without hesitation. Diligently trading in waves, but in the end, I was played by the dog庄. Thinking back to the days of youthful craziness, now living in a dilapidated factory. I graduated in 2011, picking and choosing from various industries. Originally thought I would have no connection with factories, who knew I became a clerk in a factory. Three years of trading coins with no way back, the electronics factory is my home. $BTC
Shanghai High Court: Personal possession of virtual currency is not illegal, but engaging in illegal token issuance and financing activities is not allowed $BTC #BTC☀ https://s.followin.io/s/R6wUbW8JDh
To summarize, it is not illegal for individuals to simply hold virtual currency, but it is not allowed to independently issue tokens. The act of issuing tokens is not only unprotected but may also be illegal! $BTC #BTC☀
Hippo 河马
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Bullish
Is it illegal to speculate in cryptocurrencies in the mainland? The latest case judgment in Shanghai has given the answer!
Is it illegal to speculate in virtual currencies such as Bitcoin? I think every talented trader in the mainland has thought about this question. Let's refer to this case in Shanghai.
Recently, the Songjiang District People's Court of Shanghai concluded a service contract dispute case caused by the effectiveness of the virtual currency issuance and financing service contract.
In 2017, an agricultural development company (Company X) signed a "Blockchain Incubation Agreement" with an investment management company (Company S) because it was optimistic about the development of virtual currencies, and paid 300,000 yuan in service fees for token issuance, but the plan eventually fell through. Company X sued the People's Court, demanding the termination of the contract and the return of 300,000 yuan in service fees by Company S. The Songjiang District People's Court finally determined that the agreement was invalid and ordered Company S to return 250,000 yuan.
After trial, the People's Court held that token issuance financing refers to the financing subject raising so-called "virtual currencies" such as Bitcoin and Ethereum from investors through the illegal issuance and circulation of tokens. It is essentially an act of illegal public financing without approval, and is suspected of illegal issuance of token tickets, illegal issuance of securities, illegal fundraising, financial fraud, pyramid schemes and other illegal and criminal activities. Therefore, no organization or individual may illegally engage in token issuance and financing activities.
There are legal risks in participating in virtual currency investment transactions. If the mandatory provisions of laws and regulations are violated, the relevant civil legal acts are invalid, and the losses caused by them shall be borne by themselves.
⚠️To summarize, it is not illegal for us individuals to simply hold virtual currencies, but we are not allowed to issue tokens on our own. The issuance of tokens is not only unprotected, but may also be illegal! $SOL $BTC $PNUT #DeSci热度上涨 #市场围绕90K #PNUT再次走高
The cryptocurrency ecosystem, a country is born from the will of its people limited by geography, while the cryptocurrency world is born from the will of people without geographical limitations but restricted by the laws of various countries! In the cryptocurrency world, a writer is a writer, and the articles they write are very engaging! In the cryptocurrency world, a gambler is a gambler, forever on the road to high stakes! In the cryptocurrency world, a scammer is a scammer, with endless unjust money to deceive! In the cryptocurrency world, a robber is a robber, with endless ill-gotten gains to seize! In the cryptocurrency world, it is a hell for the inexperienced, a place for winners to cultivate their skills!