The legitimacy of P2P mainly depends on the attitude of the regulatory authorities, especially the attitude of the CBRC. There can be a lot of discussion from the legal point of view, but from the practical point of view of financial law, if the regulatory authorities say that you are illegal, you are illegal.
On September 20 1 1, the general office of the China Banking Regulatory Commission issued the Notice on the Risk Warning of Renren Loan. The legitimacy of renren loan has basically been recognized by the regulatory authorities, but at the same time, some people have pointed out that it will affect the macro-control effect, easily evolve into an illegal financial institution, the operational risk is difficult to control, false propaganda affects the overall reputation of the banking system, the regulatory responsibility is unclear, the legal nature is unclear, the credit risk is high and the loan quality is poor.
The regulatory authorities did not deny the legitimacy of the entire industry of Renren Loan, but only realized the hidden financial risks, and the business and false propaganda of some specific companies may be regarded as illegal.
References:
Credit risk warning notice for everyone (No.2011] 254) Credit risk warning notice for everyone
P2P finance is also called P2P lending. P2P is the abbreviation of peer-to-peer or person-to-person, which means: person to person.
Peer-to-peer finance refers to small loan transactions between individuals. Generally, it is necessary to use the e-commerce professional network platform to help borrowers and borrowers establish loan relationships and complete relevant transaction procedures. Borrowers can publish loan information by themselves, including the amount, interest, repayment method, time, etc., to realize self-help loans; According to the information released by the borrower, the lender decides the loan amount by itself to realize self-help lending. At present, it is mainly divided into two modes: online P2P finance based on e-commerce and traditional offline P2P finance.