According to an article entitled "rapidly developing stateless currency" jointly written by Keita Guan, the financial editor of the newspaper, and Zhenguo Heye, published on September 13, the Japanese economic news said that recently, Germany, France and other five European countries issued a joint statement seeking to strictly regulate crypto assets (virtual currency). The compilation contents are as follows:
Authorities are on the alert to huge capital flows that are not managed by governments and central banks. On the 11th, Germany, France and other five European countries issued a joint statement seeking to strictly regulate crypto assets (virtual currency). The cryptocurrency used to complete private transactions on the Internet can cross national borders in an instant. Without nationality of currency, there will be no responsible manager. Even if there is transaction information, there will be no trace. The urgent task is to establish a mechanism for anti money laundering and preventing it from becoming the funds of terrorist organizations.
At present, the cryptocurrency, known as the stable coin, has attracted the most attention of the five European countries. Taking into account national sovereignty and financial policy, the issue of such currency is not allowed within the EU until strict legal norms are established.
The Libra coin that Facebook plans to issue is equivalent to a stable currency. Behind the strict supervision attitude of the authorities, there are worries that it has begun to enter the circulation link.
In August, usdt, a stable currency issued by Hong Kong based tether, accounted for more than half of the top five cryptocurrencies.
As long as tether receives a dollar, it issues a 1usdt. Since the 1usdt can be exchanged with one dollar, its price is also linked with the dollar.
There are concerns about whether tether holds the equivalent of the stable currency that has been issued. At present, the company has been charged by New York state prosecutors for concealing losses.
Even so, a person in charge of a large-scale virtual currency trading center in the United States said that the trading volume of usdt in the Greater China circle was still growing. As long as the key is used, cryptocurrency can be traded between private accounts.
The financial action task force on money laundering (FATF), an inter governmental agency, believes that direct transactions between individuals have become hotbeds of crime. Although cryptocurrency has left a record in the so-called blockchain account, it will be difficult to track its flow without a manager. In the dark net (the Internet content that can only be browsed by special software - this note) is scattered with a large number of accounts of non FATF members, so it is difficult to capture the final destination of funds.
On August 13, U.S. Attorney General William Barr announced the closure of cryptocurrency accounts of some terrorist organizations, and millions of dollars were found in more than 300 accounts owned by Al Qaeda. Highlighting the close link between terrorist organizations and cryptocurrencies, Barr said: "it is not surprising that the operation of using social media and cryptocurrency to plan terrorist attacks is not surprising."
Like Germany, France and other European countries, FATF also keeps a high degree of vigilance on stable currency. One of the reasons why cryptocurrency is not used as a means of remittance is that the price fluctuates greatly, but the stable currency linked with the endorsement assets is possible.
Usdt even surpasses sovereign currencies such as the Thai baht and rupiah in terms of liquidity. Once Facebook, which has 2.4 billion users, starts issuing Libra coins, it will sweep the world at a speed unmatched by usdt.
At present, the management of cryptocurrency is only based on the existing laws and self-made rules of each country. FATF proposed the introduction of rules to improve the transparency of capital flows in 2019, which will be discussed at the meeting to be held in October this year.