【作者】 张建；

【导师】 管斌；

【作者基本信息】 华中科技大学 ， 经济法学， 2017， 硕士

【副题名】以比特币为例

【摘要】 随着社会法治化、金融化、智能化“三位一体”的现代化变迁,法律如何回应不断变化的风险社会成为金融法学的重要课题。以比特币为代表的数字货币诞生于金融危机中,是由技术爱好者为抗争通货膨胀而设计出来的一种“自由货币”,具有去中心化、匿名性等特征,但是这些特征同时带来了巨大风险,比如洗钱、偷逃税、技术风险、破坏货币秩序等,因此纯技术的比特币具有经济属性后,还需要得到法律的认可和规范,这种“科技→金融→法律”进路也是本文金融监管分析的一个基点。本文的理论意义是在分析了数字货币的科技属性、经济属性、法律属性和政治属性的基础上,指出了什么是数字货币,其与电子货币、虚拟货币的区别以及为什么要监管数字货币。其理论创新点还在于从风险管理的视角研究了货币的风险变迁,以及从多学科视角研究了金融监管的理念变革。本文的现实意义是在将数字货币分为去中心化和中心化两种形式的基础上进行了差异化的风险管理对策研究,并在分析案例的基础上,就数字货币的立法和监管给出了相关对策。研究方法上,本文主要采用了综合法律、金融、计算机科学等学科知识的跨学科研究法,梳理现有案例并进行分析的个案研究法以及数字货币概念上和监管实践国别上的比较分析法等。具体研究内容上,导论阐述了本文的研究背景和意义,对数字货币领域的国内外研究进行了梳理总结,并说明了研究方法和思路;第二章研究了货币及其风险变迁,并在对比特币和数字货币做简介的基础上详细分析了比特币的四大属性;第三章介绍了数字货币市场及其技术——区块链的发展现状,并重点介绍了国内外对比特币的监管情况,对监管政策做了五点简评;第四章通过对部分案例梳理,对比特币的法律风险、经济风险、政治风险和系统性风险做了分析,并重点指出了当前数字货币面临的洗钱、税收监管、信息科技风险以及由数字货币的空间意义引发的势力范围变迁、货币权力衰减等问题;第五章就这些问题,从风险管理的视角,尤其是法律风险管理的视角提出了监管建议;最后得出了结论并就数字货币发展予以展望。本文研究结果认为,虽然目前数字货币经济体量不大,但是聚集的风险越来越多,我们应该对以比特币为代表的去中心化数字货币和央行发行的中心化数字货币区别监管,前者在经济上具备货币的属性,但是从风险管理视角来看,在法律上目前应作为一种虚拟商品进行监管和征税;后者无论是从经济上还是从法律上都应被定义为一种与人民币平行的“数字化人民币”(e-CNY)进行监管。更多还原

【Abstract】 How the law responses the ever-changing risk-society on the process of modernization change of legalization,financialization and intelligentization has become an important issue of financial law.Bitcoin,a kind of decentralized and anonymous free-money designed for anti-inflation,has also brought tremendous risks such as money laundering,tax evasion,technical risk,order destruction of money,etc.Accordingly,bitcoin still should be recognized by law after possessing the economic attribute.The approach,Technology-Finance-Law,is an analytical basis of financial regulation of this paper.The theoretical significance of this paper is pointing out the meaning of digital money and its difference with electrical money and virtual money,and the reason of regulating it on the basis of analyzing the technological attribute,economic attribute,legal attribute and political attribute of it.Researching the change of monetary risk from the perspective of risk management and the reform of the idea of financial regulation from multidisciplinary perspective is a theoretical innovation of this paper.The practical significance is the differential regulation of risk management on the basis of dividing digital money into decentralized and centralized forms and giving some feasible suggestions for the legislation and supervision of digital money by case analysis.Three research methods,interdisciplinary research method through combining the knowledge of law,finance and computer science,case study method through carding cases and method of comparative analysis by national comparisons,are mainly used in this paper.Concretely,introduction of this paper set forth the research background and significance,summed up the research at home and abroad and explained the research methods and idea.The second chapter studied money and its risks,and introduced four attributes of bitcoin in detail on the basis of brief introduction to bitcoin and digital money.The third chapter introduced the market of digital money and the technology of it,namely blockchain,and focused on the regulation at home and abroad and made five comments on regulatory policy.The forth chapter analyzed the legal risk,economic risk,political risk and systematic risk of bitcoin and focused on the problem of money laundering,tax oversight,information technology risk,change of sphere of influence and weakening of monetary power caused by the spatial meaning of digital money,etc.by carding some cases.The fifth chapter offered these problems regulatory suggestions from the perspective of risk management,especially the legal risk management.Lastly,this paper arrived at a conclusion and proposed the development prospects of digital money.This study concludes that more and more risks are gathering in economy,though the economic scale of digital money is not big now.We should differentially regulate decentralized digital money represented by bitcoin and the centralized issued by the central bank.In perspective of risk management,the former should be regulated and taxed as a kind of virtual goods in the law,though it has the attribute of money in economy.The latter,whether from the perspective of economy or law,should be defined as e-CNY which is parallel regulated with CNY.更多还原