|
Recently, a closed-door blockchain forum hosted by the China Blockchain Application Research Center was held at the Internet Finance Museum, where 20 guests from the blockchain industry, research and regulatory circles had a heated discussion. In this closed-door seminar on financial technology supervision, Huo Xuewen, director and party secretary of the Beijing Financial Bureau, expressed the view that financial technology needs supervision and called on the industry to strengthen self-discipline.
In this regard, Tron founder Justin Sun said: "ICO can be said to be an innovative "financial tool" that has been played badly. ICO is a financing method in the blockchain industry, which refers to financing through the issuance of tokens. However, recently, some ICO projects carried out by many organizations and institutions in the name of blockchain have caused chaos in the market. Thousands of ICO coins are flooding various on-site and off-site trading markets, and some projects do not even have mature products or teams that understand technology."
It is reported that Tron is a global free content entertainment system based on blockchain. Its goal is to build a global free content entertainment system through blockchain. Through this system, free and efficient self-growth can be achieved, and a decentralized content and entertainment platform that will not be controlled by internal or external centralized oligarchs can be created. Ultimately, everyone on this platform can fully obtain financing information, contribute content, and create freely. Most of the members of Tron are professional technical teams from Tsinghua University, and they also have the Peiwo app with tens of millions of users.
"We are a team that truly wants to work on blockchain technology and has a blockchain dream. The Tron team welcomes and calls for regulation. We will be completely open and transparent and are willing to work with the industry to create a healthy environment for financial technology to operate well." Justin Sun, founder of the Tron project, appealed to the industry on behalf of post-90s entrepreneurs.
At this closed-door seminar on fintech regulation, Huo Xuewen, director and party secretary of the Beijing Financial Bureau, expressed four important views on fintech regulation based on the summary of everyone's arguments.
First, Internet finance, blockchain and ICO can only be viable if they develop in accordance with laws and regulations. Any violations and abuses will be punished. We hope that everyone in the industry will voice their opinions on self-regulation and supervision, and what methods and means should be used to regulate and what rules should be followed.
Second, the National Financial Work Conference made it clear that all financial activities must be regulated. All activities that “manage other people’s money” must be regulated. Blockchain innovation, Internet finance innovation, ICO innovation, but if the risks are not controlled, then all innovations will definitely go in the opposite direction. If the traditional financial risk is 1.0 and the Internet financial risk is 2.0, then the current blockchain and ICO risks are 3.0.
Third, ICOs must have several basic principles: technological innovation, restoration of essence, transaction compliance, and benefit to society. In the supervision of ICOs, special attention should be paid to the following points: product registration, information disclosure, asset custody, project authenticity, and qualified investment.
Fourth, the China Blockchain Research and Application Center can call on and promote social attention to the risk management of ICOs, strengthen the platform's social public responsibility, strengthen industry self-discipline, and strengthen risk warnings.
In fact, the regulation of financial technology has been in place around the world. In April 2017, Washington politicians reached a consensus and determined the regulatory regulations for Bitcoin exchanges. These regulatory guidelines and regulations are now in effect and have been officially signed by Washington State Governor Jay Inslee. On July 26, 2017, the U.S. Securities and Exchange Commission (SEC) stated that the sale of digital tokens (i.e., ICO) is "subject to federal securities laws" and that U.S. securities laws may apply to ICOs. In May 2016, the UK Financial Conduct Authority officially launched the world's first "regulatory sandbox" project, which was subsequently emulated by Singapore, Malaysia, Hong Kong and other places.
It can be said that with the rapid development of financial technology, new financial formats emerge in an endless stream, and the resulting financial risks and regulatory mismatches have gradually emerged, making it difficult for governments and financial regulators to balance innovation and regulation in financial technology. In China, ICO regulation is also imperative. Tron founder Justin Sun spoke out on behalf of the industry: The Tron team welcomes and calls for regulation, and we are willing to work with the industry to create a healthy environment for the smooth operation of financial technology. We also believe that the blockchain, after being regulated, will usher in a more vigorous and healthy development period.
|
