政府对于虚拟货币交易的态度
MAS网上抄来的
Reply to Parliamentary Question on banning the trading of bitcoin currency or cryptocurrency
QUESTIONS NO 1745, 1761 AND 1793
NOTICE PAPERS 1031, 1033 AND 1044 OF 2018
FOR WRITTEN ANSWER
Date: For Parliament Sitting on 5 February 2018
Name and Constituency of Member of Parliament
Mr Saktiandi Supaat, MP, Bishan-Toa Payoh GRC
Question:
To ask the Prime Minister in light that cryptocurrency trading via exchanges is banned in China and soon to be banned in South Korea (a) what is Singapore's stand on the possibility of a similar ban here; (b) how is the Ministry dealing with the possibility of the use of cryptocurrency to escape taxation and other money laundering activities.
Name and Constituency of Member of Parliament
Mr Lim Biow Chuan, MP, Mountbatten SMC
Question:
To ask the Prime Minister whether any action is being considered to ban the trading of bitcoin currency or cryptocurrency and what measures will be taken to protect consumers against making losses from investing in unregulated currency.
Name and Constituency of Member of Parliament
Miss Cheng Li Hui, MP, Tampines GRC
Question:
To ask the Prime Minister (a) whether plans are in the pipeline to further educate investors on the risks of investing in cryptocurrency; (b) whether assessments are done on how a collapse of the cryptocurrency market can affect Singapore; (c) what measures does the Ministry have to deal with any such collapse; and (d) whether there are plans to reconsider the setup of a regulatory framework.
Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS:
1. Cryptocurrencies are an experiment. The number and different forms of cryptocurrencies is growing internationally. It is too early to say if they will succeed. If some do succeed, their full implications will also not be known for some time.
2. The Monetary Authority of Singapore (MAS) has been closely studying these developments and the potential risks they pose. As of now, there is no strong case to ban cryptocurrency trading here. But we will be subjecting those involved as intermediaries to our anti-money laundering regulations. And we will keep highlighting to Singaporeans that they could lose their shirts when they invest money in cryptocurrencies.
3. There are two main uses of cryptocurrencies today. The first is as a means of payment. The second, which has become far more prominent, is where cryptocurrencies are assets in their own right. People are trading in them in the hope of making a profit.
4. In both these uses, the underlying technologies, in the form of blockchains or distributed ledgers, may prove to have potentially useful applications in facilitating payments and trade settlements. MAS has, for this reason, been involved in and encouraging a number of blockchain experiments with the financial industry.
5. However, there are significant risks in the use of cryptocurrencies. There is a clear risk of money laundering. And there is clear risk that people will lose a lot of their money by investing in cryptocurrencies. We are addressing both these risks.
6. First, money laundering and terrorist financing risks. Cryptocurrency transactions are anonymous. Given also the decentralized systems behind cryptocurrency payments, and the speed at which they can be performed, they can be used to conceal the illicit movement of funds. In fact, today, a significant portion of bitcoin transactions globally is suspected to be for illicit purposes.
7. MAS will be imposing anti-money laundering and countering the financing of terrorism (AML/CFT) requirements on the intermediaries that buy, sell or exchange virtual currencies. We set out this AML/CFT regulatory framework for virtual currency intermediaries last year as part of our public consultation on the proposed Payment Services Bill.
8. In the meantime, there are general safeguards that are in place against AML/CFT risks. Our enforcement agencies are on the lookout for illegal activities related to cryptocurrency trading. Everyone is required under the law to report suspicious transactions, which they come across in the course of their trade, profession, business or employment, to the Suspicious Transaction Reporting Office (STRO) in the CAD. All suspicious transaction reports, including those involving cryptocurrencies and digital tokens which are commonly known as initial coin offerings (ICOs), are analysed by STRO. Where there are indications of an offence, STRO will refer the matter to the enforcement agencies, such as IRAS for possible tax crimes, and the CAD for possible money laundering.
9. The second priority is to help people be aware of the risks of putting their money in cryptocurrencies. Cryptocurrencies such as bitcoins are a very high risk investment, subject to sharp swings in prices driven by speculation. They are also mainly traded on opaque markets, with no regulatory protection for investors.
10. The big fall in bitcoin prices in recent weeks illustrates the risk. But people must also beware of the marketing pitch by operators, encouraging them to put more money into cryptocurrencies when prices fall, in the hope of making money if prices surge again. It is in fact an inherently unstable, high risk game.
11. MAS has issued advisories to warn members of the public of the risks of investing in cryptocurrencies. We will continue to work with the media to highlight these risks. When dealing with entities located outside Singapore, there is also greater risk of fraud, as it is more difficult to verify their authenticity or credibility.
12. For now, the nature and scale of cryptocurrency trading in Singapore does not pose risks to the safety and integrity of our financial system. Its use in making payments is small, and trading volumes of cryptocurrencies in Singapore are also not high – they are much smaller than in countries like the US, Japan and South Korea. Further, connections between cryptocurrency trading and Singapore’s financial system are also not significant at present. Singapore’s banking system does not have any significant exposure to global and local entities dealing in cryptocurrencies. We hence do not have broader, systemic risk concerns with regard to cryptocurrencies.
13. That said, the cryptocurrency space is rapidly changing and regulatory thinking internationally is still evolving, including in the US, UK and Europe. MAS is watching these developments closely and is part of the regulatory discussions internationally on how the risks posed by cryptocurrencies are best addressed.
14. We will continue to encourage experiments in the blockchain space that may involve the use of cryptocurrencies, because some of these innovations could turn out to be economically or socially useful. But equally, we will stay alert to new risks.
米容
目前为止被政府关掉的交易所
电子钱包是个什么意思呢？大多数情况，虚拟货币并不在用户自己手里，而是交易所里注册的一个ledger,或者可以理解为交易所代持的。那么交易所关闭的后果就是，血本无归。
In 2004 three Australian–based digital currency exchange businesses voluntarily shut down following an investigation by the Australian Securities and Investments Commission (ASIC). The ASIC viewed the services offered as legally requiring an Australian Financial Services License, which the companies lacked.[6]
In 2006, US-based digital currency exchange business GoldAge Inc., a New York state business, was shut down by the US Secret Service after operating since 2002.[7] Business operators Arthur Budovsky and Vladimir Kats were indicted "on charges of operating an illegal digital currency exchange and money transmittal business" from their apartments, transmitting more than $30 million to digital currency accounts.[5] Customers provided limited identity documentation, and could transfer funds to anyone worldwide, with fees sometimes exceeding $100,000.[5] Budovsky and Kats were sentenced in 2007 to five years in prison "for engaging in the business of transmitting money without a license, a felony violation of state banking law", ultimately receiving sentences of five years probation.[8]
In April 2007, the US government ordered E-gold administration to lock/block approximately 58 E-Gold accounts owned and used by The Bullion Exchange, AnyGoldNow, IceGold, GitGold, The Denver Gold Exchange, GoldPouch Express, 1MDC (a Digital Gold Currency, based on e-gold) and others, forcing G&SR (owner of OmniPay) to liquidate the seized assets.
A few weeks later, E-Gold faced four indictments.[9]
In July 2008, Webmoney changed its rules, affecting many exchanges. Since that time it became prohibited[by whom?] to exchange Webmoney to the most popular e-currencies like E-gold, Liberty Reserve and others.
Also in July 2008 E-gold's three directors accepted a bargain with the prosecutors and plead guilty to one count of "conspiracy to engage in money laundering" and one count of the "operation of an unlicensed money transmitting business".[10] E-gold ceased operations in 2009.
In 2013, Jean-Loup Richet, a research fellow at ESSEC ISIS, surveyed new money laundering techniques that cybercriminals were using in a report written for the United Nations Office on Drugs and Crime.[11] A common approach to cyber money laundering was to use a digital currency exchanger service which converted dollars into Liberty Reserve and could be sent and received anonymously. The receiver could convert the Liberty Reserve currency back into cash for a small fee. In May 2013, digital currency exchanger Liberty Reserve was shut down after the alleged founder, Arthur Budovsky Belanchuk, and four others were arrested in Costa Rica, Spain, and New York "under charges for conspiracy to commit money laundering and conspiracy and operation of an unlicensed money transmitting business."[12] Budovsky, a former U.S. citizen and naturalized Costa Rican, was convicted in connection with the 2006 Gold Age raid.[8][13] A U.S. indictment said the case "is believed to be the largest international money laundering prosecution in history."[13] More than $40 million in assets were placed under restraint pending forfeiture, and more than 30 Liberty Reserve exchanger domain names were seized.[12][14] The company was estimated to have laundered $6 billion in criminal proceeds.[12]
Following the launch of a decentralized cryptocurrency bitcoin in 2008 and the subsequent introduction of other cryptocurrencies, many virtual platforms were created specifically for the exchange of decentralized cryptocurrencies. Their regulation differs from country to country.
The US Securities and Exchange Commission maintains that "if a platform offers trading of digital assets that are securities and operates as an "exchange," as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration"[15].
In Japan to operate a cryptocurrency exchange a special license must be obtained from the Financial Services Authority of Japan specifically for the operation of a virtual currency exchange
Several cryptocurrency exchanges operating in the European Union obtained licenses[16]
under the EU Payment Services Directive and the EU Electronic Money Directive. The adequacy of such licenses for the operation of a cryptocurrency exchange has not been judicially tested. The European Council and the European Parliament announced that they will issue regulations to impose stricter rules targeting exchange platforms