Is the network information office's rectification of chaos NFT within "range"?
On August 9, the Internet Information Office issued a heavy notice "centralized rectification of the chaos involving virtual currency speculation", which again launched a heavy attack on virtual currency. The full text of the notice on further preventing and dealing with the risks of virtual currency trading speculation (i.e. the 924 notice) released three important signals: (1)The website platform needs to implement the main responsibility； （2）The speculation on virtual currency transactions continued to maintain a high-pressure attack； （3）On the basis of the current supervision, we will further strengthen the inspection of information content and account number such as inducing virtual currency investment。
Today, sister Sa's team will carefully analyze what this document means to the virtual asset circle? What kind of signal did it send?
IVirtual assets have gradually become the most serious disaster area of economic crime
Globally,The use of virtual assets generally shows an explosive growth trend, and the increase in the number of criminal activities involving virtual assets is naturally proportional to it.Based on the data provided by the confidential assets crime report of chainalysis in 2022, the transaction volume of virtual assets in 2021 reached US $15.8 trillion, an increase of 567% compared with the total amount in 2020 (mainly based on the data of mainstream exchanges). At a time when the use of virtual currency has greatly increased, the number of crimes based on cryptocurrency has also reached a record high,The monitored illegal addresses obtained about $14 billion of various virtual assets in this year, far higher than the $7.8 billion in 2020。 Comparing the data of 2020 and 2021, we can find that in the total transaction volume of virtual assets, about 0.34% of the total transaction volume in 20 years was related to illegal activities, while in 21 years, this figure has climbed to 0.62%,Most of the crimes involved in these virtual assets belong to economic crimes, and the property losses caused by fraud crimes account for about 70% of the total crime amount。
From the perspective of domestic environment, China's economic development is under great pressure due to various reasons. Under such a background,All kinds of illegal fund-raising, fraud and other economic crimes generally show a trend of frequent occurrence。 In addition, as various classic methods of fraud crime have been widely publicized by the regulatory authorities for a long time, it is urgent to seek new criminal methods,This has led to the concept of virtual currency and NFT digital collection being used on a large scale to carry out crimes such as illegal absorption of public deposits and fund-raising fraud。 Recently, many NFT digital collection platforms have been unable to sustain in the general cold environment of virtual assets, and the rights and interests of many NFT digital collection holders have not been protected, which has further increased the risk coefficient of virtual assets in the eyes of regulatory authorities.
In addition, from the perspective of regulatory authorities, all kinds of virtual assets based on blockchain technology have developed from a niche hobby to a trillion dollar specific asset category in less than a decade, bringing worries about consumer protection, market manipulation, anti money laundering and economic crimes dominated by fraud. Therefore, inReceived a large number of complaints and reportsUnder such circumstances, in order to maintain the stability of economic development and financial transaction order, the office of Internet information technology intends to issue this document, which requires that all kinds of investments involving virtual currency should be continuously attacked with high intensity.Its essence is to maintain economic stability。
IIWe media has become the key target of this round
all the time,We media is an important carrier of information transmission in China's virtual asset circle, and it plays a role in communicating the dissemination and diffusion of information at home and abroadTo a certain extent, it also provides valuable reference for all kinds of financial innovation in China. However, we media also has:Low entry threshold、It is difficult to distinguish the authenticity of information、Disorder of propagationEtc., which makes it easy to be used as a channel for large-scale publicity by various rug pull projects. At the same time, some teachers and investment consultants in the virtual asset circle who take classes and draw money as the main source of income also advertise on their platforms without conducting detailed investigation on some fraudulent projects. The double-edged sword content of we media has been exposed in this issue.
Therefore, in this round of attacks, it is not surprising that we media and teachers with bills in various virtual asset circles have been banned. In particular, some we media accounts with the banner of "financial innovation" and "blockchain" that are more targeted to induce people to invest (speculate) in "virtual currency", "virtual assets" and "digital assets" have been banned for the first time.
Well, we media in the virtual asset circle is in the focus of this round of cyber information officeIn addition to being blocked，What risks will actual operators face? Is it illegal or even criminal to release information about money speculation and NFT data collection?Sister Sa's team believes that if we media, in the form of publishing information about the virtual asset circle, actually conduct propaganda and guidance for some specific platforms, it is likely to face greater illegal and even criminal risks.
First of all, the core spirit of the 9.24 notice is to gradually eliminate mining activities and strictly prohibit financial activities involving virtual currency. Although it does not explicitly prohibit media organizations from publicizing activities related to virtual asset trading and speculation, it can be inferred from the spirit of the document,The above-mentioned promotion activities should also be prohibited。 Moreover, we media platforms on overseas platforms can not be safe and secure. The 9.24 notice has made it clear that they know or should know that they are engaged in virtual currency related businesses and still provide them withMarketing publicityLegal person, non legal person organization and natural person providing payment and settlement, technical support and other services shall be investigated for relevant responsibilities according to law.
If the we media platform is a platform that specializes in fraud and other criminal activities, it is likely to constitute a violation of article 287-1 of the criminal law【Crime of illegally using information network】。 The crime clearly stipulates that the use of information networks to carry out (1) establishment for fraud, teaching criminal methods, making or selling prohibited goods and controlled goodsWebsites and communication groups for illegal and criminal activities； (III)The act of releasing information for the purpose of committing fraud and other illegal and criminal activities。
In addition, we media's behavior of providing help to the target who knows that the target is committing a criminal act can also constitute the provision of article 287 bis of the criminal law【Crime of helping information network crime】。 According to the provisions of article 287 bis of the criminal law, the crime of helping information network criminal activities refers to providing technical support such as Internet access, server hosting, network storage, communication transmission, etc. for others to commit crimes with knowledge that they use information networks; orProvide advertising promotionPayment and settlement, and other serious acts. The information released by we media for the purpose of guiding the platform and inducing consumers to invest is essentially an act of providing advertising promotion, which has a high criminal law risk.
IIIDoes the file affect the NFT data collection platform?
SA Jie's team believes that although the document superficially focuses on rectifying illegal financial activities, propaganda and speculation involving virtual currency,The document can still be regarded as a weather vaneAfter all, it can be seen from the wording "virtual assets", "digital assets" and the we media accounts that are actually bannedThe scope of attack is actually a kind of behavior involving speculation in virtual assets in a broad sense, and it is not only at the level of virtual currency.
At the end of the document, the state cyber information office clearly stated that it would continue to work with relevant departments to strengthen the crackdown on illegal financial activities related to virtual currency. At present, the various risks accumulated in the rapid development of the digital collection industry have gradually reached the saturation stage, and it is possible to be focused by the regulatory authorities in the near future. ThereforeThe urgent task of each platform is to put the compliance work such as self inspection and self correction in the front, so as to minimize their own administrative violations and criminal risks。
We also call on the regulatory authorities to carefully distinguish between virtual currency and other virtual assets, such as NFT and digital collections, and not to adopt measures against themmake it rigidly uniformMeasures and policies. In the process of implementing the cultural digitization strategy in China, NFT and digital collections are important means and tools. Although the one size fits all supervision is the simplest, it is also unfavorable to the promotion of China's digitization strategy. In the final analysis, what we hope to see is that digital collections, as a part of the cultural industry, will find a way to survive in China in accordance with laws and regulations, instead of repeating the mistakes of P2P platforms and becoming the tears of the times. This requires practitioners to actively embrace compliance, and requires regulators to adopt more elaborate, cautious and comprehensive regulatory measures to achieve the ultimate goal.