Studies On Reconstruction Of China’s Securities Legal System Adaptative To Blockchain Application

The birth of blockchain technology will change the traditional business model,which encourage many industries to conduct decentralization revolution and drive them makes innovation.The securities industry is also committed to research on blockchain technology.In countries with advanced capital markets,it has taken the lead in applying blockchain technology to securities trading.China pays lots of attention to the application of blockchain technology to the securities market.In order to seize the opportunities to make the encrypted securities trading model come true,many securities companies have joined the study of blockchain technology applied to the securities market.The traditional stock exchange has various disadvantages because of the asymmetry of information.The blockchain cryptocurrency trading model can solve the problems existing in the traditional stock exchange,optimize the trading model,reduce the cost of trading,and replace the intermediary agent with the blockchain technology to guarantee the trust.Faced with new things,the law are always lagging and inevitably lead to “legal conflicts”.The conflict between the current legal framework and the cryptographic stock exchange model is mainly manifested in the gaps between new exploration and violation with the current regulations.However,we cannot be it in the cradle because of the conflict between new things and the law.However,we cannot be conservative and miss the opportunity when the blockchain cryptocurrency trading model is growing.The law should adapt to the development of the society and make appropriate adjustments to make it more reasonable.Therefore,we can learn from the UK’s sandbox supervision system and reconstruct a feasible the law combined with our national conditions.On the way of reconstructing law,we must insist on the current supervision institution and given a legal status to encrypted securities transactions based on blockchain technology through explaining the specific provisions of the current securities laws or protocoling the relevant laws and regulations by the state council.This thesis is divided into six chapters.The first chapter is about the discussion.The second chapter mainly discusses what blockchain technology and encrypted securities are and their related applications.The third chapter mainly compares with the traditional securities trading model and builds a securities trading model suitable for China’s blockchain conditions.The fourth chapter mainly discusses the development orientation and legal challenges of blockchain encryption securities trading;The chapter mainly explores the legal reconstruction path by reviewing the current securities legal system.The sixth chapter is about the conclusion.