Study Of Virtual Currency Laws

With the advent of web-society, virtual currency was issued by web-server across the world to advance the efficiency of transaction and more virtual currency issued and used, more risk arose.For a long time, the research on virtual currency was the component of that on electronic currency, but the former differ form the latter in several aspects, including subject (issuer), redemptive and risk concomitant with it. the essay try to review the current situation of the development of virtual currency, analysis the legal relations of virtual currency and the risk liability of it and offer propositions for the legal regulations of the market of virtual currency.Chapter one, the concept of virtual currency. The essay analysis the causation of the advent of virtual currency and distinguish it into two kinds,'the virtual currency the consumer earned by web game'and'the virtual currency the consumer purchased by actual currency'. The essay analysis the concept of electronic currency and review the vary points about the relation between virtual currency and electronic currency. The essay compares the differentia between virtual currency and electronic currency in these aspects, the issuers, redemptive and different causations.Chapter two, the review of the legislation of virtual currency across the world. The comparing research of the current situation and trend of the legislation in EU, America, Korea and China illustrates that legal prescription of virtual currency has been the common subject of all countries.Chapter three, the legal relations of virtual currency. The subject includes the issuer, the consumer and the web server. The object is the transferring of a small amount of capital and the content is the varied contracts between the issuer and consumer, the issuer and the web server.Chapter four, the research of the risk liability. The essay analysis the varied risks that the central bank, the issuer and the consumer face up with and the safety-risk is the maximal common risk that the issuer and the consumer confront with. The moot question is that who should take the consequences when the virtual currency missed.Chapter five, legal prescription for the risk of virtual currency. the essay offer some propositions for the regulation of virtual currency, including the entrance systems, strict liability imposed upon the issuer and the web server, the prohibition of the transaction of virtual currency, etc.