Editor's Note: This article comes fromZhikuang University (ID: gh_37c9e0eaf00a), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Zhikuang University (ID: gh_37c9e0eaf00a)
, reprinted by Odaily with authorization.
With the development and popularization of the blockchain industry, cryptocurrencies such as Bitcoin have entered the field of vision of more people. Due to various reasons, many people have major misunderstandings and prejudices about cryptocurrencies such as Bitcoin and their mining. We believe that misunderstandings and prejudices are mainly due to unfamiliarity.
Since the blockchain industry is still in the early stages of development, the relevant laws and regulations are not perfect, and some people choose to take risks and break the law in order to obtain improper benefits. This situation exists in all walks of life. People in the industry have done illegal things, so it is judged that the entire industry is illegal. This kind of misunderstanding and prejudice is not easy to appear in other mature industries, but in the same situation, in the unfamiliar blockchain industry, people unconsciously form misunderstanding and prejudice.
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Bias against mining
Because of the misunderstanding of the mining industry, even veteran miners will have doubts about whether mining is illegal, and worry that their mines, mining machines and other assets will be fined and confiscated. Let me give you a reassurance first, as long as the mine is compliant, the mining machine is purchased through formal channels, and is hosted in a formal mine, your related assets are protected by law. As for what is a "regular mine" and what is the legal basis for mining, let me explain in detail.bitcoin miningsecondary title
Overview of Bitcoin Mining Elements
Let's briefly explain what cryptocurrency mining is. take
bitcoin mining
For example, mining is to use a professional bitcoin mining machine to solve a calculation problem given by the system, and the miner who first gets the answer that meets the system requirements will be rewarded with bitcoin. Mining is the act of using mining machines to produce bitcoins. Through the above introduction, we understand that mining involves two elements:
One is the machine that produces Bitcoin—the mining machine;
The second is the product of mining - Bitcoin.
The links involved in mining include:
……
site - a mine;
Product - Bitcoin;
Bitcoin mining elements - mining machine
There are two mining machine manufacturers in my country, Jianan Zhizhi and Yibang International, which have been listed on NASDAQ. According to this, it can be judged emotionally that the mining machine is legal, otherwise how can the company that produces the mining machine go public. From a legal point of view, a Bitcoin mining machine is a special computer using an ASIC chip. Miners buy it from legal channels, and as long as they use the mining machine normally, they are protected by law.
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Image source: Bitmain official website
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Bitcoin Mining Elements - Bitcoin
As early as 2013, five ministries and commissions including the People's Bank of China issued the "Notice on Preventing Bitcoin Risks" (hereinafter referred to as the "Notice"). The "Notice" clarified the nature of Bitcoin and believed that Bitcoin was not issued by monetary authorities. , does not have currency attributes such as legal compensation and mandatory, and is not a currency in the true sense. In nature, Bitcoin is a specific virtual commodity. From the "Notice", it can be seen that my country's current regulatory attitude towards Bitcoin is that Bitcoin is not a legal tender, but a virtual commodity, and the activities of Bitcoin as a virtual commodity are not prohibited. However, because the effectiveness level of the "Notice" is only a departmental standard, it cannot be used as a legal basis for judicial trials. Therefore, in actual cases, there are still various opinions on the identification of the nature of virtual currencies such as Bitcoin. Some courts have held that Bitcoin is a form of property, protected by law. However, some courts believe that the issuance and fundraising of "cottage coins" violate the mandatory provisions of our country's laws and administrative regulations, so the transaction is not protected.
Let's look at two practical cases.
Case two:
Summarize
Yan and other four people transferred more than 18 bitcoins including Bu and others into the accounts designated by Yan and others by controlling their mobile phones. Bu Moumou appealed to the court and asked Yan Moumou and others to return the bitcoins. The Shanghai No. 1 Intermediate People's Court believes that Bitcoin is an online virtual property and should be protected by law. First, according to the general principles of civil law, the law takes a positive attitude towards the protection of online virtual property. Second, Bitcoin has the characteristics of value, scarcity, and controllability, so it has the characteristics of a right object and meets the constituent elements of virtual property. Moreover, according to the 2013 "Notice" and the "Announcement on Preventing Financing Risks of Token Issuance" issued by the People's Bank of China and other seven ministries and commissions on September 4, 2017, although the legal status of such "virtual currency" as currency is denied , but the above provisions do not deny its property attributes as a commodity, and our laws and administrative regulations do not prohibit the holding of Bitcoin. The "Notice" also mentioned that "in terms of nature, Bitcoin should be a specific virtual commodity." Therefore, Bitcoin has the attributes of virtual property and virtual goods and should be protected by law. Yan was ordered to return more than 18 bitcoins.
From the above two cases, it can be seen that although Bitcoin is not qualitative in terms of laws and regulations, and the judgment results of courts in various places are not uniform in actual cases, but comprehensive departmental guidance documents and comprehensive opinions of court cases at all levels, the author believes that Bitcoin is a It is a kind of private property, and as Bitcoin is widely recognized and applied, Bitcoin will receive more comprehensive legal protection, and the judgment basis of courts in various places will gradually converge on cases involving Bitcoin.
