Recently, Bitcoin disputes have occurred in many places. Judging from the results of the local court decisions, in the series of disputes, the local courts have different definitions of the cryptocurrency assets and the rights and interests of the parties involved.
Experts said that at present, China's laws and regulations concerning cryptocurrency such as Bitcoin currency are not perfect, and various cryptocurrency trading platforms have no legal qualifications. In the event of a dispute, investors may face economic losses due to difficulties in defending their rights or even nowhere to defend their rights. Therefore, investors need to actively strengthen risk awareness, always maintain rationality, and stay away from all kinds of illegal financial activities.
It is understood that under strict supervision, some cryptocurrency transactions have been transferred from ‘ground’ to ‘underground’.
Xiao Lei, a senior researcher in cryptocurrency, said that at present, some Bitcoin trading platforms are still running, and the supervision blind spots are exposed. Regulators can supervise many large platforms, but more small platforms will be used to monitor the loopholes and it is difficult to monitor them effectively. In this regard, it is necessary for the regulatory authorities to improve the level of regulatory and legal effects to protect the interests of investors and prevent financial risks.
With the escalation of the regulatory ‘ban’, some of the original Bitcoin trading platforms in China continue to provide ‘over-the-counter trading’ between Bitcoin and RMB in the form of ‘hanging delisting and peer-to-peer’. This method is not regulated. It is impossible to guarantee the safety of funds.
In order to make the funds go smoothly to the sea, some platforms may also be suspected of fictitious fund names, and there are legal risks.
A lot of people know the high risk of cryptocurrency, still, they want to take a shot to profiteer. Take a look at the Bitcoin price, we can find Bitcoin price today is unsteady. All the ups and downs completely affect investors. Yet, people just throw all the money in the market regardless of whether they would lose or not. Because they think they would be the one who got lucky.