Research On The Crime Of Illegal Fundraising In ICO

ICO is an emerging form of Internet finance.At present,domestic and foreign scholars' research on ICO financing has shifted from the early research on ICO regulation and potential risks to related issues of illegal fund-raising crimes in ICO financing.Although the current research on the crime of illegal fund-raising in ICO has some conclusions,there are still insufficient researches on the legal attributes of digital cryptocurrency,the identification of illegal fund-raising crimes in ICO financing,and the calculation of the amount of crime.To study the crime of illegal fund-raising in ICOs,it is not only necessary to fully understand the development of domestic Internet finance and ICOs based on my country 's national conditions,but also to explore and analyze the crime,non-criminal,and this issue of ICO financing on the basis of existing research on illegal fund-raising.Crimes and other crimes,the determination of the amount of crimes,etc.,are used to combat illegal fund-raising,financial fraud,illegal pyramid schemes and other criminal activities in the form of borrowing ICOs to ensure the order of social financial management and the stable development of my country's financial market.The article first clarifies the relationship between ICO and illegal fundraising.Not all ICOs are illegal fundraising.ICO illegal fundraising usually has the characteristics of concealment,fraud,cross-border,network,advanced methods,shortened cycle,and increased scope.When judging whether a specific ICO constitutes an illegal fundraising,the four characteristics of illegal fundraising,"illegal,open,social,and attractive" should be used as the standard.Second,the legal attributes of digital encrypted currency should be recognized as virtual property and property protected by the criminal law.Third,in the determination of the crime of illegally absorbing public deposits and the crime of fund-raising fraud,it is not appropriate to directly consider the crime of illegally absorbing public deposits and the crime of fund-raising fraud when the object raised by the perpetrator is digital encrypted currency.Cryptocurrency and legal currency have obvious exchange continuity and the purpose of absorbing deposits,and the crime of illegally absorbing public deposits and the crime of fund-raising fraud can be determined separately in conjunction with whether they have the purpose of illegal possession when mainly relying on this method to raise funds in disguise.Fourth,in the crime of ICO illegal fund-raising,it is more accurate and reasonable to calculate the amount of crime based on the total loss of the victim.