| The birth of bitcoin in 2009 announced that the era of exclusive issuance of money by the central bank is gone.Relying on blockchain technology,bitcoin has attracted worldwide attention for its decentralization,anonymity and security reliability after encryption.After bitcoin,various private cryptocurrencies,such as Ethereum,Libra and Wright coin,have sprung up and come into public view.It is undeniable that virtual private digital currency plays a great role in promoting financial innovation and promoting the upgrading of currency cross-border payment technology.However,because the private digital currency has not been endorsed by the national credit,and the current supervision of various countries has not kept pace with the development of digital currency.As a result,in recent years,various improper ICO issuance and transactions in the "currency circle" market have occurred frequently,which has seriously affected the normal order of the global financial and money markets.In order to actively respond to the huge impact of digital currency on the existing financial system,China began to study legal digital currency in 2014.Legal digital currencies are different from private digital currencies in that it is a digital payment and settlement tool issued by the Central Bank of the country with the credit of the country as a endorsement and debt issuance.Unlike strong anonymity of private digital currencies,legal digital currency allows users to control transaction information and anonymity of transaction data.The legal digital currency currently being developed in China is called DC / EP(Digital RMB).Although DC /EP has taken the lead in successfully piloting in Shenzhen and other places in October2020,the legal risks behind it and various legal problems caused by it should not be underestimated.The author believes that the current discussion on the legal issues of digital RMB is limited to the issue stage of currency,which is too narrow,The operation stage of currency includes two core links: issuance and circulation.Once the currency is issued,it is necessary to actually put it into the circulation field,and the potential legal risks in the circulation stage can not be ignored.Therefore,this paper will analyze the legal problems faced in the whole operation stage of currency.In terms of the issuance stage,China’s financial legal system still focuses on the protection of traditional currency,Legal digital currency does not belong to the category of RMB.At present,the law can not provide legal basis and guarantee for the legal compensation currency status of legal digital currency.Therefore,the issue of legal digital currency by the central bank in the future may face problems such as lack of issuance basis and legal compensation.Therefore,the issue of legal digital currency by the central bank in the future may face problems such as lack of issuance basis and legal compensation.As far as the circulation stage is concerned,the protection of personal information after currency circulation,anti-counterfeiting,currency regulation and financial stability will also face new challenges.Obviously,these legal issues must be considered in advance for the operation of digital RMB in China in the future.In view of this,this paper focuses on the relevant legal issues involved in the operation of digital RMB.In addition to the introduction and conclusion,the text is divided into four chapters.The first chapter expounds the related concepts of legal digital currency,focusing on the analysis of legal digital currency.This paper discusses the differences between legal digital currency and traditional currency,electronic currency and private digital currency.This paper expounds and analyzes the operation framework design of China’s legal digital currency,and points out the monetary policy innovation in the design of China’s legal digital currency operation system and the significance brought by the issuance of legal digital currency.The second chapter,as the digital RMB will enter the circulation field immediately after the issuance,the problems faced in currency circulation are also within the scope of this paper.This paper will summarize the potential difficulties in the whole operation cycle from the issuance of digital RMB to the market circulation.The first is the lack of issuance basis and legal compensation problems in the currency issuance stage.In addition,the transfer of money ownership,the identification of counterfeit money and anti money laundering also face great challenges.Second,the potential legal risks after the circulation of digital RMB,such as financial stability under the central bank’s monetary policy,competition among financial institutions in the process of cashing digital RMB and data protection.The third chapter analyzes the positions and some practices of countries around the world in the operation of legal digital currency.Some countries have differences on the issue of legal digital currency and whether to issue legal digital currency.At the same time,it makes a brief summary of the current research progress of legal digital currency in some countries.At present,Venezuela has taken the lead in issuing petrocurrency in the world.At the same time,other countries are preparing for the issuance of legal digital currency in the future,such as jasper project in Canada and RS coin project in Britain.In these projects,most countries pay attention to legal digital currency in the fields of economy and technology;On the contrary,the legal issues behind legal digital currency have not been paid enough attention.In order to maintain the normal operation of legal digital currency,the protection of law is essential.In addition,this paper will focus on the analysis of the digital dollar project.The United States issued a white dollar white paper in 2020.It also shows us official readings for issuing statutory currency.The fourth chapter puts forward the legal countermeasures to build a digital RMB operation suitable for China’s national conditions.First,build the legal environment for the operation of digital RMB,and establish the legal currency status and legal compensation scope of digital RMB;Second,clarify the principle of controllable anonymity and the principle of combining convenience and security when the central bank issues legal digital currency;Third,we should improve the information protection mechanism of digital RMB users,clarify the protection scope of personal information,and lay a solid foundation for establishing a perfect personal information protection mechanism in combination with the future development of data privacy protection mode;Fourth,to improve the anti-counterfeiting and anti money laundering system related to digital currency and establish a perfect anti-counterfeiting mechanism of digital currency,we can think from two ways:improving the relevant laws and regulations of anti-counterfeiting and establishing a special anti-counterfeiting organization;At the same time,establish a perfect digital RMB anti money laundering mechanism.After the issuance of legal digital currency,the existing anti money laundering mechanism is bound to be unable to meet its development needs.Therefore,it is urgent to establish the money Rhonda ring prevention mechanism of the full legitimate digital currency. |
