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Exploration of the Problems of Virtual Currency and Potential Solutions

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • 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)

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.

Suggested Citation

  • Rui Tang & Rui Wang & Rongjie Zou, 2022. "Exploration of the Problems of Virtual Currency and Potential Solutions," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 1501-1512, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_166
    DOI: 10.2991/978-94-6463-052-7_166
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