Study Of Virtual Currency And Influence On Monetary Policy

The rapid development of the electronic commerce and the online game has led the virtual transaction to unprecedented development, the virtual currency arises at this moment. This article targeted for the present stage virtual currency, namely the primary virtual currency. The virtual currency here means the quasi-currency issued by the network operator and so on non-financial institutions circulates in the fixed limited scope in the computer network, and can purchase virtual products, electronic services and goods as part of the reality by virtue of internet. It is virtual, limited circulation and approximate currency etc.China's current official forbids the bidirectional exchange between the virtual currency and the legal currency, but because of a large number of third-party trading platforms on the network, making bidirectional exchange can be achieved. In addition, along with ideal money's development, its may purchase the object not only to limit to the virtual commodity and the part realistic commodity, purchase range extension to more widespread realistic commodities, then the virtual currency will replace part of cash in circulation, will also have certain impact on the national monetary policy, including the central bank's monopolistic position and monetary policy objectives and tools, thereby affecting the regulation of money supply.In addition to the above-mentioned problems, because the supervision mechanism and legal system of virtual currency is not perfect, the virtual currency and the virtual property have the hidden danger in the secure aspect. Virtual currency also brings such as gambling, tax evasion and tax fraud, money laundering and other aspects of social problems. Although the virtual currency is a new thing and its research has only just started, the rapid development of virtual currency and the related problems of the virtual currency have draw relevant departments' attentions. Therefore, further study of the virtual currency has important practical significance.I believe that, only after the research of the background, clear definition and essential nature of virtual currency and its operation mechanism, the parties behaviors and motive behind could we further analyze the impact to monetary policy and other issues brought by virtual currency, and put forward effective supervision proposals, also that is 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 definitions, characteristics to distinctions between virtual currency and electronic currency aimed to lay solid foundation for later research. Chapter three introduce the aboard and domestic situation of virtual currency and our country can benefit from their experience. The chapter four is the core of the full text. It begins from the effect of virtual currency to monetary policy,the relationship between virtual currency and currency inflation follows, and ends with the other problems and underlying dangers of the virtual currency. The chapter five analyzes the current regulation measures and compare with other countries', then makes some suggestions to improve the efficiency of current regulation.Internet constant change and rapid development of business model enables development for virtual currency unpredictable. Facing increasingly complex virtual currency market we need pay more attention to virtual currency and make adjustments accordingly to enable the rapid development of virtual currency, effectively stop the potential crisis and provide a healthier, order circumstance for its development.