Study On Present Virtual Money And Regulation Framework Construction

Virtual money, as the outcome of the newly birth business model run in internet, has different types, issuing and circulation patterns according to different business models. The virtual money here means the quasi-currency issued by non-financial institutions circulates among issuer, holders and a few other merchants if they're willing to accept it as payment, and can purchase goods in reality, virtual properties and virtual services by virtue of internet. Virtual money seems to be a specific virtual goods issued by relevant internet business, while it essentially being micro-payment system independent to the existed payment system. It can be divided into 3 categories according to the circulation fields as those used in MMOGs, SNS social networks and mixed used ones. By the standard of whether it could be exchanged by real currency we could also classify it into high-power ones and low-power ones. The whole circulation involved includes not only issuers and holders but also the third-parties exchange platform webs which exert influences from the prices, dealing order to the entire circulation mechanism.The particularity of virtual money which arises from its payment property, performs as the possibility of affecting related market order, financial system and social security negatively. Meanwhile, because that the third parties dealing platforms aren't controlled under issuing businesses, the profiteering of virtual money in these platforms happens and therefore the virtual money becomes essentially redeemable, thus the behavior could induce market disorder, the disturbance of financial and monetary system in reality, and further problems such as internet crime, gambling and other problems underlying social security. Then we could make point easily that the regulation of virtual money is both necessary and urgent..The build of regulation frame is a course of hard long-term exploration. Due to the extraordinary nature of its essential function, environment and possible influence, the regulation requires the closely collaboration of many parties such as those in charge of culture, information, payment system and security. And only after the research of clear definition, details during circulation, parties behavior involved and motive behind could we construct the framework validly, also that's the way this article extends:The first chapter is preface, which concludes the introduction of research background, meaning and purpose, the literature review, the structure, innovations and deficiencies. The main body of text starts from Chapter Two, this chapter puts emphasis on the theoretical study of virtual money from definition, characteristics to distinctions between virtue money and other similar definitions aimed to lay solid foundation for later research. Chapter three begins from the history of virtual money, the introduction and research of current domestic and aboard situation follows, and ends with the short comparison of the two. The chapter four which turns to regulation of virtual money is the core of the full text. Linking the situation introduced above, we further investigate the problems and underlying dangers due to lack of regulation from both financial and other social aspects, then comes to the conclusion the regulation is in urgent need. The ending form of this part poses the problems, the reasons and measures we should take respectively, by which we build the regulation framework pointed. The chapter five connects our theoretical results to reality, after analyzing the current regulation measures and comparing with the contents in the form, some suggestions are made to improve the efficiency of current regulation.The chief theoretical research achievements is the form at the end of the chapter four which contains respective measures according to the possible dangers,and the analysis and comparisons in chapter five also has immediate significance.Whether the regulations could take into effect as expected eventually will judged only by market reactions, as a framework just finished in June, we need to observe consequences for longer time and make adjustments accordingly. After all, the purpose of virtual money regulation is to prevent various problems happen and provide a healthier, order circumstance for its development.