Research On The Legal Attribute Of Digital Currency

Since the advent of bitcoin,digital currency has been widely used in commodity trading.But the legal attribute of digital currency is not clear,which leads to a large number of legal risks that are used to commit crimes or evade financial management.Therefore,we must make clear the legal attribute of digital currency as soon as possible in order to make effective legal supervision on it.Digital currency is a kind of electronic currency based on blockchain technology,which is different from traditional currency and has the characteristics of decentralization,programmability and anonymity in transaction process.As for the legal attribute of digital currency,it is generally divided into "monetary property theory" and "non monetary property theory".Among them,"non monetary property theory"is represented by commodity theory,securities theory,data theory and other theories,but there are theoretical difficulties and obstacles that cannot be overcome.Back to the essence of money,its essence is a kind of bookkeeping symbol which is constructed by the national compulsory force to guarantee credit and can be generally recognized by the public.However,digital currency is issued based on blockchain technology,which is different from legal currency issuance.This way has broken through the limitations of the narrow monetary law theory and developed the broad monetary law theory,that is,to define the legal attribute of digital currency from the essential function of currency.Thus,on the basis of "monetary property theory" of digital currency,"new currency theory" of digital currency was born.On the one hand,it provides a reasonable theoretical support for the quasi currency attribute;on the other hand,it also provides a correct legal basis for improving the legislation of digital currency.Then we should first recognize the legal attribute of digital currency quasi currency,and then confirm its legal status through legislation after the theory is mature.Only on this basis can we construct the supervision system of digital currency as quasi currency.