Research On The Legal System Of Blockchain Financial Supervision

With the application of smart contracts,rights registration and financial markets,blockchain has become the focus of capital market attention.Finance and law are the two basic systems for realizing the allocation of resources in modern society.The blockchain simplifies the transaction and legal relationship in the traditional financial communication process with its decentralization and unsuccessful modification of data.The architecture has had a big impact.The promulgation of the "Regulations on the Management of Blockchain Information Services" provides a preliminary basis for blockchain financial supervision,but it lacks industry specificity.From the perspective of specific applications,smart contracts enable the provisions of the Contract Law on the rights and obligations of both parties to be self-executing,the application of rights registration and certification,and the disclosure of ownership and equity rights in the Property Law and the Company Law.The regulations put forward new requirements,and the binding provisions of the traditional Securities Law on both parties to the transaction will also be updated.At present,the theoretical community lacks a comprehensive and systematic cognitive framework for blockchain finance,and there is no systematic academic research in the field of construction of relevant regulatory legal systems.In view of this,it is necessary to make appropriate academic interpretations on the changes in the legal relationship of financial transactions,the shortcomings of the regulatory system,and the institutional framework of legislation and supervision in the application of blockchain,with a view to making blockchain finance in the Chinese market.The development provides useful guidance.The article is divided into four parts.The first part is the logical starting point of the full-text research.This part mainly defines the related concepts of blockchain financial supervision,including “blockchain”,“blockchain finance” and “blockchain financial supervision”;it sorts out the functional supervision related to blockchain financial supervision,Peak supervision and legal incomplete theory,and analyzed the adaptability of blockchain financial supervision and smart supervision;clarified threeprominent differences in the supervision of blockchain finance and internet finance:the focus of supervision,standards The distribution of legal methods and legal risks is different;the practical significance of effective supervision of blockchain finance is clarified.The second part,combined with the main forms of blockchain finance,analyzes its changes to traditional financial transactions.Blockchain finance weakens the status of traditional financial intermediaries.It discusses the current law on blockchain financial supervision in China.Regulate the status quo;explore its legal challenges and legal issues.The third part compares the legislative and regulatory experience of the United Kingdom,Japan,Singapore and other countries,and focuses on the internationally accepted “sandbox regulation” model,and compares the differences according to the actual situation of different countries.Refining and thinking about the direction of blockchain financial supervision and the enlightenment to our country.The fourth part puts forward the construction path of blockchain financial supervision in China.Starting from the optimization of the regulatory concept,we should adopt smart supervision and advocate diversified governance in order to achieve social co-governance;through the combination of macro-innovation financial rule of law and specific legal measures,including the "Company Law","Property Law" and " The improvement of the rules of the Tax Law and the construction of a parallel system of laws and regulations on "hard law" and "soft law";analysis of the feasibility of introducing a "sandbox supervision" model in China's blockchain financial supervision,from the legislative and regulatory levels Departure,solve the legal problems encountered in blockchain finance;explore the changes in regulatory functions and regulatory systems in the context of mixed operations;in addition,put forward specific recommendations on the protection mechanism of financial consumer rights.