On The Legal Attribute Of Bitcoin

With the advent of the fintech era,the birth of Bitcoin with blockchain as the underlying technology has triggered a protracted currency revolution in the market.Its decentralized attribute excludes the currency intermediary-the bank,and the encryption realizes the paperlessness of the currency,which can not be tampered with,strengthens the security of the currency,and completely changes the characteristics of the traditional currency.With the widespread use of Bitcoin,it has also subverted the business operation model supported by traditional currencies.In this context,many people's understanding of Bitcoin is not accurate.Some scholars believe that it is a currency with currency characteristics;some scholars believe that it is a virtual commodity and cannot serve as a general equivalent.Currency has the same equivalent exchange function.At the same time,the two legal documents issued by the central bank on bitcoin have made the definition of bitcoin more ambiguous,and have caused many contradictions and conflicts in practice.People gradually realize that the crisis caused by Bitcoin is already very huge.How to characterize bitcoin,this article will try to explore the legal attributes of bitcoin in depth from the legal level.First,starting from the most basic civil law theory,it is confirmed that it does have property rights and finds its position in civil law.Then,on the basis of property rights,it demonstrates the currency attributes of bitcoin,pointing out that with the development of the times,the currency in the legal sense is gradually mixed with the currency in the economic sense.Its currency attributes should be understood with new currency theory.According to Friedman's currency theory,the essence of currency is credit.It isanalyzed that Bitcoin has "credit",which is in line with the essence of currency,and can be regarded as a "private currency" with currency attributes.In this way,the legal attributes of Bitcoin are clarified,so that it can be legally regulated.At the end of this article,suggestions for regulation are given in order to alleviate or solve the problems caused by Bitcoin and protect the interests of the people's property.