Research On The Legal System Of Bitcoin Transaction Regulation In The United States

Due to the popularization of the Internet and the development of electronic information technology,the Internet is ubiquitous in our modern life.Whether it is work,entertainment or communication will touch the existence of the Internet.With the vast increase in goods and services provided on the Internet,the Internet can even be seen as a unique market.As a kind of virtual currency on the Internet,Bitcoin is characterized by convenient transactions and flexible use.So we can see that more and more trading activities have included Bitcoin.Development So far,Bitcoin has occupied an important position in the electronic trading market on the Internet,and this emerging virtual currency has gradually attracted the attention of investors,major news media and US regulatory agencies.The first chapter of this article outlines the concept,generation,and development of Bitcoin,and analyzes the necessity of regulating Bitcoin transactions.Bitcoin is often used in e-commerce for transfer and trading,and some companies have already invested capital in new digital currencies.Although the system has been shaped in terms of technology,the regulatory legal framework remains unclear.The features of Bitcoin also make it attractive and at the same time risky.Legislators around the world began to discover and regulate this new virtual phenomenon.The second chapter of this article examines the United States' supervision of Bitcoin from two levels.At present,the federal level regulators mainly regulate the use of bitcoin,focusing on bitcoin currency transfer services,taxation,investment,and bitcoin derivatives;the state is more inclined to consumers and holders.protection.It can be seen that the United States has initially formed a virtual currency payment management system.Chapter 3 of this article describes the deficiencies in the United States' supervision of Bitcoin.For example,there is a regulatory conflict between the federal and the state,the legal nature of Bitcoin is uncertain,and the scope of supervision is not perfect.The third part of the article will compare and discuss some feasible suggestions.It mainly includes strengthening the regulatory cooperation between the federal and the state,establishing a clear regulatory attitude,and expanding the scope of supervision.Through the research in the first three chapters,the last chapter of the article will focus on the analysis of the status quo of China's Bitcoin supervision and put forward some suggestions for improvement.This article believes that China is in the initial stage of supervision of Bitcoin transactions and has not established a complete regulatory legal system.Moreover,the differences in the national conditions between China and the United States are quite different.Therefore,when referring to the US Bitcoin transaction supervision system,it is not appropriate to apply the Bitcoin rules and regulations,and it is possible to selectively use its reasonable parts.Chinese regulators can establish a strict qualification review system and strengthen the supervision of transactions.In order to protect the interests of consumers,and thus achieve the purpose of controlling risks,a complete legal system of bitcoin supervision is established.