| According to difference of the issuers,digital currency can be classified as private digital currency and national digital currency.Private digital currency,represented by Bitcoin,promotes financial innovation and facilitates cross-border payment.However,it also raises many legal issues.And it has become a new project for financial supervision departments all over the world how to supervise digital currency effectively and reasonably.In the meantime,blockchain technology in mature application of private digital currency also creates enthusiasm of many countries and international organizations to explore national digital currency energetically.However,in China,current financial legal system,taking traditional currency as its adjustment and projection objects,obviously cannot satisfy the requirement to issue and use national digital currency.As a result,this paper takes legal issues related to digital currency as the main research objects.It is divided into five chapters as follows:The first chapter mainly introduces the research background and topic significance,research methods,research current situation both at home and aboard and innovative points.The second chapter mainly elaborates fundamental theory of digital currency,which includes:defining connotation and extension of digital currency by carding and evaluating previous studies and combining official positions of current authorized organizations and the facts of currency market;discussing similarities and differences in the aspects of legal nature,issuer and technical infrastructure among digital currency,electronic money and virtual currency;introducing concept,classification and characteristics of blockchain technology to understand digital currency deeply;discussing legal nature and fundamental characteristics of private digital currency and national digital currency separately.The third chapter cards and analyzes legal issues,which private digital currency is faced with,combined with related practical cases on the one hand,which includes:legal position of private digital currency;lack of legal supervision of private digital currency trading platform;criminal activities such as money-washing of private digital currency and criminal legal issue of Initial Coin Offering.On the other hand,the second chapter summarizes legal issues which may be involved based on rational conception of issuing national digital currency in the future,which includes:issuing basis of national digital currency;legal issues of legal tender;legal issues of combating with false coin and anti-money-laundering problems.The forth chapter introduces the attitudes and current legislative situation towards digital currency at home and abroad.From abroad aspect,it can horizontally provide experience and lessons for digital currency policy in our country by evaluating the attitudes and current legislative situation towards digital currency in major economies such as the U.S.,Japan,the UN and the European Union.From domestic aspect,it can longitudinally provide experience and lessons for digital currency policy in our country by evaluating merits and demerits of the official documents on digital currency,which includes Notice of Preventing Bitcoin Risks,Announcement of Prevention of Financial Risk of Issuing Token Money and Notice of Preventing Trade Risk Alert of Initial Coin Offering and Bitcoin.The fifth chapter proposes available law solution for developing digital currency in our country on current legal issues of private digital currency and legal issues that our country may be faced with in the future of national digital currency and by the combination of experience and lessons on related policy at home and abroad.In terms of the legal supervision of private digital currency,we should set up legal supervision system,in which financial technology innovation should be balanced against control of legal risk,of private digital currency by legal supervision measures such as introducing the system of Regulatory Sandbox,sound anti-money-laundering mechanism on private digital currency,improve legal standard of private digital currency trade platform and enhance transnational legal cooperation and so on.In terms of legal issues which national digital currency may face such as legal tender,combating with false coin and anti-money-laundering,this paper proposes three solutions,i.e.revising the current related law and regulations,publishing decisions of National People’s Congress and instituting the Law of Currency.Moreover,this paper analyzes the feasibility,advantages and disadvantages of these three solutions to lay the legal foundation of issuing national digital currency in our country. |
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