International Cooperation in Digital Currency Regulation

Purpose/Significance The creation of digital currency provides new ideas for the existing monetary system and market transactions. However, as a new field, it brings many new cross-border problems due to its virtuality and cross-border characteristics. Therefore, it is necessary to regulate digital currency through interna

Design/Methodology By clarifying the characteristics and risks of digital currencies and combing existing international regulatory cooperation measures, it can be seen that in addition to the traditional jurisdictional challenges faced by digital currencies, issues such as ICO regulation, tracing of illegal and criminal activities, repeated regulatory coordination, and mutual legal assistance also require consensus among countries.

Findings/Conclusion In order to guide and standardize the development of digital currency and alleviate the difficulties faced by supervision, the construction of an international cooperation system for digital currency supervision should be based on the principles of active collaboration and user information and qualification review and sharing, and at the same time, the secondary market should be established as the core of supervision mode. With the combination of technology and law, the coordinator appropriately divides the rights and obligations of the participants and determines the responsible person. At the same time, the coordinator establishes a supervision platform and effectively combines transactions and supervision through agreements to solve the legal supervision of digital currencies.