| I In the context of the digital economy,digital currency has emerged as a new form of currency.Compared to traditional paper and coin forms,digital currency relies on data and exists in digital wallets in the form of electronic symbols.The digital currency issued by the central bank of China and assuming core regulatory responsibilities is referred to as the "legal digital currency".Legal digital currency has the characteristics of digitalization,legality,and unlimited legal compensation,making it safer and more convenient compared to traditional physical currency.At present,the central bank of China is actively carrying out pilot work on legal digital currencies,and the central bank,in collaboration with commercial banks,is gradually promoting the implementation of a diversified plan for the application of legal digital currencies.In the process of covering multiple market transactions,legal digital currencies expose many risks,which are generally manifested as technical risks,credit risks,and financial risks.In order to avoid the risks of legal digital currencies in market transactions,relevant regulatory bodies in China have attempted to regulate legal digital currencies.However,due to the immature regulatory mechanism in China,regulatory bodies have encountered some legal issues in the process of regulating legal digital currencies,mainly focusing on five aspects:regulatory model,legal basis,data protection,crime risk prevention,and cross-border circulation issues.In order to avoid the continuous fermentation of regulatory issues related to legal digital currencies,it is urgently necessary to plan a set of legal supervision and management systems that match it,so that regulatory entities can actively respond to various risks brought by the issuance of legal digital currencies,in order to promote better investment of legal digital currencies in the market.Firstly,a dual regulatory model should be established,which is a dual entity regulatory model of "central bank commercial banks" and "commercial banks other service institutions";Secondly,improve the legislation on digital currency regulation in China,while revising the current legal rules,carry out specialized legislation;Once again,in the process of regulating legal digital currencies,attention should be paid to the reasonable use of user personal information data;Secondly,we will strictly crack down on the use of legal digital currencies to commit economic crimes,and establish a systematic and comprehensive mechanism for fraud prevention and anti money laundering;Finally,in the supervision of cross-border circulation of legal digital currencies,strengthen international coordination and cooperation among regulatory entities,and jointly formulate international regulatory rules that comply with the monetary policy guidelines of various countries.The author hopes to provide feasible suggestions on the top-level design and legal norms of the upcoming legal digital currency,and accelerate the on-site application of legal digital currency in China. |
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