| The continuous development of financial technology has started a new era of digital currency.China has started researches on DC/EP since 2014.China is at the forefront of researching and developing legal digital currency all over the world.The monetary revolution led by digital currency not only has important influences on countries,but has also attracted the attention of scholars from all over the world.Since the world’s major economies have not yet officially issued legal digital currency,the academic focus is mainly on the field of private digital currency represented by bitcoin,and researches on legal digital currency are not sufficient.Based on a summary of the results of the existing researches by both Chinese and foreign scholars,this paper provides a detailed and comprehensive interpretation of legal digital currency from the legal perspective.Legal digital currency is a type of legal compensation currency issued by the central bank or authorized institutions in the form of encrypted string,which has the function of legal currency and is endorsed by national sovereignty.It has the characteristics of compulsory circulation,invisibility,encryption and monetary function.On this basis,through a comparative analysis with private digital currency,electronic currency and existing legal tender,we try to understand the uniqueness of legal tender more deeply and comprehensively.After the analysis of the legal basis of legal digital currency,the legal attribute of legal digital currency is discussed.The legal attribute of digital currency presents the compound characteristics of real right,property and identity ownership,that is,legal digital currency belongs to the category of property as tangible property and special movable property.After reviewing the current situation of the issuance of legal digital currency in major countries,author thinks that the issuance of legal digital currency has unique value,including maintaining currency issuance right,reducing issuance cost,maintaining financial stability,improving inclusive finance and helping RMB internationalization.Based on the value function and potential application competitive advantage that the issuance of legal digital currency may bring,many countries,including China,begin to pay attention to and even start to issue legal digital currency.Therefore,we must take a positive look at the main legal issues faced by the issuance of legal digital currency,the core of which mainly includes the lack of legal basis,the protection of personal rights and interests and legal supervision.Based on the analysis of the above problems and dilemmas,combined with the existing legal environment in China,author puts forward the following legal suggestions on the legal issues related to the issuance of legal digital currency: first,clarify the legal status of legal digital currency,choose the appropriate legislative path,and improve the basic legal framework related to the issuance of legal digital currency.We should adhere to the legal compensation of legal digital currency,establish the ownership transfer mode of "effective delivery",and apply the rule of "possession is ownership".Secondly,establish the security system and improve the damage compensation system to strengthen the protection of personal property rights and interests;In order to strengthen the protection of personal information rights and interests,it is necessary to clarify the user,authority and procedure of personal information;We should strengthen the popularization of financial knowledge,infrastructure construction and aging transformation to protect the rights and interests of digital vulnerable groups.Thirdly,from the aspects of legal norms,value orientation,subject,object,scope and means of supervision,this paper clarifies the legal supervision mode of legal digital currency,clarifies the status of the central bank as the legal supervision institution of legal digital currency,and suggests the introduction of sandbox supervision system to adapt to the technical and legal characteristics of legal digital currency.Finally,it discusses the other supporting legal systems that need to be improved in the issuance of legal digital currency,focusing on solving the problems of anti-counterfeiting and anti money laundering. |
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