The Potential Impact Of The Development Of Virtual Currency And A Preliminary Study Of Its Regulation

With the fast development and product of virtual currency, more and more economists and policy makers began to pay attention to the potential influence and its regulatory issues. As a new thing, virtual currency has the characteristics of goods and currency at the same time.Because of the characteristics of currency, it can perform a part of functions instead of currency,it can have a big influence on the existing currency system To a certain extent. Because virtual currency has both two characteristics, some excessive speculative acts.Firstly, through the analysis of some significant deficiencies existing in current international monetary system, this paper attempts to explore the inequity of igniorage income distribution and the implicit inflation tax, and analyzes the causes of the virtual currency, And based on the discussionon monetary exogeneity and endogeneity problem,we discuss the similar attributes of virtual currency as a contrast.Secondly, this paper discusses the emergence and development causes of virtual currency. At the same time, referring to the research on the monetary transmission mechanism of the current monetary theory, we also attempt to discuss the impact on monetary base, money multiplier, money circulation velocity of virtual currency, and make a preliminary discussion on the effect on monetary policy and intermediate target of virtual currency.Finally, this paper analyzes the security problems of virtual currency in the development process, at the same time referring to social welfare effects of theoretical achievements of new welfare economics, we discuss the impact of virtual currency. We have try to discuss the supervision system construction problem of virtual currency in China by analyzing the plight of the development of virtual currency. In addition, in view of the major problem of virtual currency, we take bitcoin as a case to discuss the possible problems by combining with the actual data on the development foreground of virtual moneyBecause the current development of virtual currency itself is still not mature, this discussion at the potential impact of and the supervision of virtual currency is Only tentative. But because of this, the study around the topic of virtual currency is more and more realistic and urgent. I hope this study can make a modest contribution to the virtual currency problems and its development in the future.