Criminal Regulations Of Peer-to-Peer Lending

In Internet Age,peer-to-peer,mobile electronic payment and cloud computing service develop so fast.They are combined with finance and Peer-to-Peer-Lending comes which helps private debt and credit form.P2P has broad and narrowed sense.Broad one means that someone borrow money using every internet technology,while narrow one means P2P platforms.The process is that borrowers commit need,platforms audit it and then lenders can see it.Zopa in England is the first P2P platform based on credit system,matching lenders with borrowers and it is becoming digital bank.P2P platforms in China,provide automatic biding,dispersed biding and assignment of credit.They require real-name certification,the nationality of China and age range from 18 to 60.They would try their best to audit reality submitted by borrowers,but they emphasize that they cannot ensure all the reality is right and they do not tender guarantee.Lenders should bear risk individually.Both kinds of P2P platforms in different countries their own characteristics.Platforms are distinguished according to their backgrounds.They are classified into bank,state-owned assets,venture capital,private enterprises and listed companies.They are various with each other.P2P platforms are considered as financial institution,information intermediary or recombination mechanism.In law,they are defined as information intermediary.In recent yeas,P2P platforms show awfully.As the data says,the risks of criminal law of p2p is huge.There is no doubt that criminal regulations for P2P is necessary.Crime of illegal absorbing public savings is the most common crime about P2P.It requires illegality,publicity,inducement and sociality.In the newest crime law,Illegality is the key of determination of crime of illegal absorbing public savings,it means platforms violate state financial management regulations.It can distinguish financial innovation from crime.P2P platforms grant that grant loans of public would offend the crime of illegal business operations.Some problems are still required to think over,such as the abolition of crime of illegal absorbing public savings,the difference of regulation between virtual and practical absorbing public savings.The problem of illegal business operations is the transformation of legal nature of P2P platforms.The legal interest of crime of illegal absorbing public savings is country's financial management order.To meet age demand,State should modify the article of crime of illegal absorbing public savings,distinguishing reality with online.The decriminalization of illegal business operations is that P2P platform insist on the information intermediary of private lending.