Research On The Legal Regulation Of Private Digital Currency In China

In our daily life,money has been playing an indispensable role,currency since undergoing change and progress,from shellfish currency to copper,to the notes,and human’s currency has been innovation,change,now,the emergence of the currency,also heralds the monetary usher in a new round of innovation,namely monetary family will add a member-digital currency.Since the birth of digital currency,there has been a hot discussion about it.Not only in the financial world,but also in the legal world,there is an intense debate about digital currency.Digital currency can be divided into private digital currency and legal digital currency according to the existence of national credit endorsement.Private digital currencies often carry more legal risks than fiat digital currencies because of their lack of state credit endorsement and decentralized nature.Currently,private digital currencies are growing rapidly.Private digital currencies represented by Bitcoin,Ethereum and Libra have not only promoted financial innovation and facilitated payment,but also brought many legal problems.How to effectively and reasonably regulate private digital currencies has become a new problem for governments around the world.Since private currency is created by using blockchain technology and circulated through the network,it is naturally decentralized and anonymous,and its liquidity is very strong,which brings great difficulties to the supervision of government departments.The expansion of private digital currency will have a great impact on China’s monetary system,financial system and national security,so it is urgent to regulate private digital currency by law.Starting from the introduction of the concept of private digital currency,this paper introduces the definition and legal attributes of private digital currency,and discusses the similarities and differences between private digital currency,electronic currency and virtual currency.Then it introduces the attitude and legal regulation of private digital currency in foreign countries.It provides reference for the legislation of private digital currency policy in China.Then this paper combs out the legal problems that China’s private digital currency is facing with the relevant actual cases.Finally,this paper aims at the legal problems existing in the development and circulation of private digital currency in China,combines China’s national conditions and draws on the relevant experience of foreign legislation and supervision,promotes financial innovation under the framework of maintaining China’s financial stability,and puts forward feasible legal suggestions for the healthy development of private digital currency in China.