Exploration of the Problems of Virtual Currency and Potential Solutions

Rui Tang (), Rui Wang and Rongjie Zou
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Rui Tang: China Jiliang University, College of Optical and Electronic Technology
Rui Wang: Wenzhou University, Business School
Rongjie Zou: South China Agricultural University, College of Economics and Management

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 1501-1512 from Springer

Abstract: Abstract In recent years, virtual currency has become an international hot topic. At the same time, virtual currency also ushered in unprecedented development. How to effectively regulate virtual currency becomes a problem worth discussing. This paper first analyses the development of virtual currency with Bitcoin as the representative. It is concluded that virtual currency has great instability, which means that there are some problems with virtual currency. The problems of virtual currency are mainly reflected in the potential impact on the market and loopholes in legal regulation. Therefore, the regulatory measures proposed in this paper are also analyzed from two aspects of market operation and legal regulation. In addition, Central Bank Digital Currency (CBDC) is also a good idea.

Keywords: Cryptocurrencies; Virtual Currencies; Digital Currencies; Central Bank Digital Currency (CBDC); Fintech (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-052-7_166

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DOI: 10.2991/978-94-6463-052-7_166

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