2024-04-30 区块链-加密数字货币之法律政策分析
2024-04-30 Legal policy analysis of block chains -- encrypted digital currencies
关于进一步防范和处置虚拟货币交易炒作风险的通知_特色服务_西藏自治区分局 (safe.gov.cn)
各省、自治区、直辖市人民政府，新疆生产建设兵团：
The People's Government of the provinces, autonomous regions and municipalities directly under the Central Government xff0c; the Xinjiang Production and Construction Corps xff1a;
近期，虚拟货币交易炒作活动抬头，扰乱经济金融秩序，滋生赌博、非法集资、诈骗、传销、洗钱等违法犯罪活动，严重危害人民群众财产安全。为进一步防范和处置 虚拟货币交易炒作风险，切实维护国家安全和社会稳定，依据《中华人民共和国中国人民银行法》《中华人民共和国商业银行法》《中华人民共和国证券法》《中华人民共和国网络安全法》《中华人民共和国电信条例》《防范和处置非法集资条例》《期货交易管理条例》《国务院关于清理整顿各类地方交易场所切实防范金融风险的决定》《国务院办公厅关于清理整顿各类交易场所的实施意见》等规定，现就有关事项通知如下：
xff0c; recent rise of virtual currency transactions xff0c; disruption of the economic and financial order xff0c; illegal criminal activities such as gambling, illegal fund-raising, fraud, money-laundering xff0c; serious threats to the security of people’s property. Risks of virtual currency transactions xff0c; effective maintenance of national security and social stability xff0c; regulations of the People’s Republic of China Commercial Bank Law of the People’s Republic of China Regulations of the People’s Republic of China on the Prevention and Disposal of Illegal Money Collection, Regulations of the People’s Republic of China on the Regulation of Telecommunication Transactions, Regulations of the State Council on the Physical Protection of Financial Risks, Decision of the Office of the State Council on the clean-up of local trading sites of all types xff0c; information on the matter is provided below xff1a;
一、明确虚拟货币和相关业务活动本质属性
i. Clarify the essential attributes of virtual currency and related operations （一）虚拟货币不具有与法定货币等同的法律地位。比特币、以太币、泰达币等虚拟货币具有非货币当局发行、使用加密技术及分布式账户或类似技术、以数字化形式存在等主要特点，不具有法偿性，不应且不能作为货币在市场上流通使用。
& xff08; Ixff09; Virtual Currency does not have legal status equivalent to that of legal tender.
（二） 虚拟货币相关业务活动属于非法金融活动。开展法定货币与虚拟货币兑换业务、虚拟货币之间的兑换业务、作为中央对手方买卖虚拟货币、为虚拟货币交易提供信息 中介和定价服务、代币发行融资以及虚拟货币衍生品交易等虚拟货币相关业务活动涉嫌非法发售代币票券、擅自公开发行证券、非法经营期货业务、非法集资等非法 金融活动，一律严格禁止，坚决依法取缔。对于开展相关非法金融活动构成犯罪的，依法追究刑事责任。
& xff08; IIxff09; Virtual currency-related operations are illegal financial activities. Conducting legal and virtual currency-exchange operations, virtual currency-exchange operations, buying and selling virtual currency as a central counterpart, providing information for virtual currency transactions, brokering and pricing services, money-for-money finance and virtual money derivatives transactions are suspected of illegal sales of currency coupons, unauthorized public issuance of securities, illegal futures operations, illegal collection of funds xff0c; strict prohibition of all xff0c; and firm prohibition under the law. xff0c; criminal liability under the law for illegal financial activities.
（三）境外虚拟货币交易所通过互联网向我国境内居民提供服务同样属于非法金融活动。对于相关境外虚拟货币交易所的境内工作人员，以及明知或应知其从事虚拟货币相关业务，仍为其提供营销宣传、支付结算、技术支持等服务的法人、非法人组织和自然人，依法追究有关责任。
& #xff08; IIIxff09; Foreign Virtual Currency Exchange provides services to residents in the country via the Internet.
（四）参与虚拟货币投资交易活动存在法律风险。任何法人、非法人组织和自然人投资虚拟货币及相关衍生品，违背公序良俗的，相关民事法律行为无效，由此引发的损失由其自行承担；涉嫌破坏金融秩序、危害金融安全的，由相关部门依法查处。
& xff08; IVxff09; there is a legal risk of participation in virtual currency investment transactions. Any legal person, illegal organization or natural person invests in virtual currency and related derivatives xff0c; xff0c; the relevant civil law act is invalid xff0c; the resulting loss is borne by the person concerned xff1b; xff0c is suspected of undermining the financial order and endangering financial security; and is subject to investigation by the relevant authorities in accordance with the law.
二、建立健全应对虚拟货币交易炒作风险的工作机制
II. Establishment of working mechanisms to address the risks associated with virtual currency transactions
（五）部门协同联动。人民银行会同中央网信办、最高人民法院、最高人民检察院、工业和信息化部、公安部、市场监管总局、银保监会、证监会、外汇局等部门建立工作协调机制，协同解决工作中的重大问题，督促指导各地区按统一部署开展工作。
The People's Bank, in conjunction with the Central Networking Office, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Industry and Informationization, the Ministry of Public Security, the General Directorate of Market Supervision, the Silver Insurance Supervisory Board, the Certification Supervisory Board, the Foreign Exchange Bureau, etc., establishes working coordination mechanisms xff0c; coordinates the resolution of major problems at work xff0c; and urges and directs the regions to work on a unified basis.
（六） 强化属地落实。各省级人民政府对本行政区域内防范和处置虚拟货币交易炒作相关风险负总责，由地方金融监管部门牵头，国务院金融管理部门分支机构以及网信、 电信主管、公安、市场监管等部门参加，建立常态化工作机制，统筹调动资源，积极预防、妥善处理虚拟货币交易炒作有关问题，维护经济金融秩序和社会和谐稳 定。
& xff08; VIxff09; Strengthening territorial implementation. The provincial people's governments have overall responsibility for preventing and dealing with risks associated with virtual currency transactions in their respective administrative regions xff0c; xff0c, led by the local financial regulatory authority; xff0c, with the participation of the branches of the State Council's financial administration and departments such as network letter, telecommunications chief, public security, market supervision etc. xff0c; establishment of normal working mechanisms xff0c; integrated mobilization of resources xff0c; active prevention, proper handling of issues related to virtual currency transactions xff0c; maintenance of economic and financial order and social cohesion.
三、加强虚拟货币交易炒作风险监测预警
III. Enhancing the risk monitoring early warning of virtual currency transactions （七）全方位监测预警。各省级人民政府充分发挥地方监测预警机制作用，线上监测和线下排查相结合，提高识别发现虚拟货币交易炒作活动的精度和效率。人民银行、中央网信办等部门持续完善加密资产监测技术手段，实现虚拟货币“挖矿”、交易、兑换的全链条跟踪和全时信息备份。金融管理部门指导金融机构和非银行支付机构加强对涉虚拟货币交易资金的监测工作。
& #xff08; VIIxff09; All-round monitoring early warning. All provincial people's governments take full advantage of the role of local monitoring early warning mechanisms & #xff0c; combination of on-line monitoring and under-line screening & #xff0c; improve the accuracy and efficiency of activities to identify and detect virtual currency transactions. Departments such as the People's Bank, the Central Networking Office and others continue to refine encryption asset monitoring techniques & #xff0c; complete chain tracking and back-up of information on virtual currency “mining”, transactions, and conversions.
（八）建立信息共享和快速反应机制。在各省级人民政府领导下，地方金融监管部门会同国务院金融管理部门分支机构、网信部门、公安机关等加强线上监控、线下摸排、资金监测的有效衔接，建立虚拟货币交易炒作信息共享和交叉验证机制，以及预警信息传递、核查、处置快速反应机制。
& #xff08; VIIIxff09; Establishment of mechanisms for information sharing and rapid response. xff0c, under the leadership of the provincial people's governments. xff0c. Local financial supervision departments, together with the branches of the State Council's financial administration, the Internet service, public security organs, etc., will enhance online surveillance, bottom-touching, effective #xff0c-monitoring interfaces; establishment of a virtual currency transaction information-sharing and cross-verification mechanism xff0c; and early warning information transmission, verification and disposal rapid response mechanisms.
四、构建多维度、多层次的风险防范和处置体系
4 to build multi-dimensional, multi-layered risk prevention and disposal systems
（九） 金融机构和非银行支付机构不得为虚拟货币相关业务活动提供服务。金融机构和非银行支付机构不得为虚拟货币相关业务活动提供账户开立、资金划转和清算结算等 服务，不得将虚拟货币纳入抵质押品范围，不得开展与虚拟货币相关的保险业务或将虚拟货币纳入保险责任范围，发现违法违规问题线索应及时向有关部门报告。
& xff08; IXxff09; Financial institutions and non-bank payment agencies may not provide services for virtual currency-related operations. Financial institutions and non-bank payment agencies may not provide services such as account opening, transfer of funds and liquidation of virtual currency-related operations xff0c; virtual currency may not be included in a pledge xff0c; virtual currency-related insurance operations may not be carried out or included in insurance liability xff0c; leads to violations should be reported to the relevant authorities in a timely manner.
（十） 加强对虚拟货币相关的互联网信息内容和接入管理。互联网企业不得为虚拟货币相关业务活动提供网络经营场所、商业展示、营销宣传、付费导流等服务，发现违法 违规问题线索应及时向有关部门报告，并为相关调查、侦查工作提供技术支持和协助。网信和电信主管部门根据金融管理部门移送的问题线索及时依法关闭开展虚拟 货币相关业务活动的网站、移动应用程序、小程序等互联网应用。
& #xff08; X#xff09; Strengthening Internet content and access management in relation to virtual currency. Internet enterprises should not provide virtual currency-related operations with services such as web sites, business displays, marketing campaigns, fee streaming, etc. & #xff0c; detection of non-compliance leads should be reported to the relevant authorities in a timely manner & #xff0c; and technical support and assistance should be provided for related investigations and investigations.
（十一）加强对虚拟货币相关的市场主体登记和广告管理。市场监管部门加强市场主体登记管理，企业、个体工商户注册名称和经营范围中不得含有“虚拟货币”“虚拟资产”“加密货币”“加密资产”等字样或内容。市场监管部门会同金融管理部门依法加强对涉虚拟货币相关广告的监管，及时查处相关违法广告。
& #xff08; XIxff09; Strengthening the regulation of the registration and advertising of the subject of the virtual currency. Market regulators strengthen the management of the registration of the subject of the market & #xff0c; the names of enterprises, individual business owners and the scope of their operations must not contain the words or content of the “virtual currency” “virtual asset” or “encrypted asset” or “encrypted asset” of the “virtual currency.” Market regulators, in conjunction with the financial administration, will strengthen the regulation of advertising related to the virtual currency xff0c, in accordance with the law.
（十二）严厉打击虚拟货币相关非法金融活动。发现虚拟货币相关非法金融活动问题线索后，地方金融监管部门会同国务院金融管理部门分支机构等相关部门依法及时调查认定、妥善处置，并严肃追究有关法人、非法人组织和自然人的法律责任，涉及犯罪的，移送司法机关依法查处。
& #xff08; XIIxff09; Tightly combating illicit financial activities related to virtual currency. xff0c. Upon discovery of the problem of illicit financial activities related to virtual currency & xff0c; timely investigation by local financial regulatory authorities, together with relevant departments such as the branch of the financial administration of the State Council, to identify and deal appropriately with xff0c; and serious prosecution of the legal liability of legal persons, organizations of illegal persons and natural persons xff0c; xff0c involving crimes; and referral to the judicial authorities for prosecution according to the law.
（十三）严厉打击涉虚拟货币犯罪活动。公安部部署全国公安机关继续深入开展“打击洗钱犯罪专项行动”“打击跨境赌博专项行动”“断卡行动”，依法严厉打击虚拟货币相关业务活动中的非法经营、金融诈骗等犯罪活动，利用虚拟货币实施的洗钱、赌博等犯罪活动和以虚拟货币为噱头的非法集资、传销等犯罪活动。
The Ministry of Public Security has deployed the National Public Security Agency to continue its intensive work on the “Special Action against Money-Laundering Offences” “Operation to Combat Cross-border Gambling”, “Operation Breaking of Cards” and “Operation #xff0c”; to combat, in accordance with the law, criminal activities such as illegal operations in virtual currency-related operations, financial fraud, etc. xff0c; and criminal activities such as money-laundering, gambling and illegal collection, distribution, etc., using virtual currency.
（十 四）加强行业自律管理。中国互联网金融协会、中国支付清算协会、中国银行业协会加强会员管理和政策宣传，倡导和督促会员单位抵制虚拟货币相关非法金融活 动，对违反监管政策和行业自律规则的会员单位，依照有关自律管理规定予以惩戒。依托各类行业基础设施开展虚拟货币交易炒作风险监测，及时向有关部门移送问 题线索。
& #xff08; XIV&xff09; Strengthening industry self-regulation. China Internet Finance Association, China Payments Clearing Society, and China Banking Association strengthen member management and policy advocacy & #xff0c; advocating and urging member units to resist illicit financial activity related to virtual currency & #xff0c; punishing members for violating regulatory policies and industry self-regulation rules & #xff0c; disciplinary action in accordance with the regulations governing self-regulation.
五、强化组织实施
V. Strengthening organizational implementation （十五）加强组织领导和统筹协调。各部门、各地区要高度重视应对虚拟货币交易炒作风险工作，加强组织领导，明确工作责任，形成中央统筹、属地实施、条块结合、 共同负责的长效工作机制，保持高压态势，动态监测风险，采取有力措施，防范化解风险，依法保护人民群众财产安全，全力维护经济金融秩序和社会稳定。
& #xff08; #xff09; Strengthening organizational leadership and coordination. Departments and regions attach great importance to addressing the risks associated with virtual currency transactions & #xff0c; strengthening organizational leadership & #xff0c; clarifying responsibilities & #xff0c; forming a long-term working mechanism of central integration, territorial implementation, block integration, shared responsibility & #xff0c; maintaining high pressure & #xff0c; dynamic monitoring risks xff0c; taking robust measures xff0c; preventing risks xff0c; protecting the property of the population #xff0c; fully maintaining economic and financial order and social stability in accordance with the law.
（十六）加强政策解读和宣传教育。各部门、各地区及行业协会要充分运用各类媒体等传播渠道，通过法律政策解读、典型案例剖析、投资风险教育等方式，向社会公众宣传虚拟货币炒作等相关业务活动的违法性、危害性及其表现形式等，增强社会公众风险防范意识。
& #xff08; #xff09; Strengthening policy interpretation and information education. Ministries, regions and industry associations need to make full use of communication channels such as various media & #xff0c; xff0c through legal policy interpretation, typical case profiling, investment risk education, etc.; xff0c; public awareness-raising on the illegality, hazards and manifestations of related activities such as virtual currency campaigning xff0c; and public awareness-raising on risk prevention.
中国人民银行?中央网信办最高人民法院
People's Bank of China: Central Network Supreme People's Court
最高人民检察院?工业和信息化部公安部
Supreme People's Procuratorate: Ministry of Industry and Informationization, Ministry of Public Security
市场监管总局?银保监会
General Directorate of Market Supervision? The Silver Insurance Supervisory Board.
证监会?外汇局
The SEC? The Foreign Exchange Bureau.
? ?2021年9月15日
♪ September 15th, 2021 ♪
数年前，无论是知名币种的持有量，还是虚拟货币挖矿算力的规模，中国都是世界上位列第一的国家。纵使法律政策对虚拟货币的衍生产业作出了否定的结论，但这改变不了国内拥有大量虚拟货币行业从业者的事实。其中，在境内为境外虚拟货币交易所提供服务是虚拟货币及其衍生行业的从业模式主流。而国内否定性的法律评价是否会波及至这些从业者们，正是本文希望讨论的内容。
A few years ago, xff0c; whether a well-known currency hold xff0c; or the size of virtual currency mining xff0c; China was among the first countries in the world. Even though legal policy led to a negative conclusion about the derivatives of virtual money xff0c; this does not change the fact that there is a large number of domestic practitioners in the virtual currency industry.
法条文义分析
讨论的内容源于2021年9月24日《关于进一步防范和处置虚拟货币交易炒作风险的通知》（下称“924通知”）第一条第三款的规定：“境外虚拟货币交易所通过互联网向我国境内居民提供服务同样属于非法金融活动。对于相关境外虚拟货币交易所的境内工作人员，以及明知或应知其从事虚拟货币相关业务，仍为其提供营销宣传、支付结算、技术支持等服务的法人、非法人组织和自然人，依法追究有关责任。”
The discussion stemmed from the Circular of 24 September 2021 on the Further Prevention and Disposal of the Risks of Fashioning Virtual Currency Transactions & #xff08; hereinafter referred to as “Notification 924” & #xff09; the provisions of Article 1(3) & #xff1a; “The services provided by the offshore virtual currency exchange to residents in the country via the Internet are also illegal financial activities. is liable under the law for domestic staff members of the relevant offshore virtual currency exchange xff0c; and knows or should know that they are engaged in virtual currency-related operations xff0c; legal persons, illegal persons organizations and natural persons who continue to provide services such as marketing publicity, payment settlements, technical support, etc. xff0c; and is liable under the law .”
从该部门规章的文义可知，如境外虚拟货币交易所为我国境内居民提供虚拟货币相关服务的，系属行政违法行为，我国境内居民不得为该等交易所提供支持。
xff0c; provides virtual currency-related services to residents in our territory by a virtual foreign currency exchange; xff0c is an administrative offence xff0c; residents in our territory are not allowed to support such exchanges.
虽然924通知未对提供技术服务等支持的行为予以明确定性，但否定性评价足以延伸至相关民商事诉讼与行政处罚、行政强制之中。
Although the notification of 924 did not clearly characterize acts supported by the provision of technical services, etc. xff0c; however, the negative evaluation was sufficient to extend to related civil and commercial litigation and administrative sanctions and administrative enforcement.
延伸问题
Extension
近一年来，多家知名虚拟货币交易所屏蔽了中国IP，不向中国居民提供服务。所以，延伸的问题便是：如境外虚拟货币交易所不向我国居民提供服务的，我国境内居民可否为境外虚拟货币交易所提供服务？
For almost a year, xff0c; several well-known virtual currency exchanges have blocked the Chinese IP， they do not provide services to Chinese residents. So xff0c; the extension is xff1a; e.g. xff0c, where the offshore virtual currency exchange does not provide services to our residents; and whether residents in our country can provide services to the offshore virtual currency exchange xff1f;
924通知系属“经济行政法”的范畴，根据张利民教授的观点：在域外效力问题上,存在着一个“不具域外效力的假设”(the presumption against extraterritorial effects),即所有的法律原则上只具有域内效力。该假设存在以下例外：(1)清晰立法意图的例外；(2)不利后果的例外；(3)行为地点的例外。
924 Notifications fall within the scope of “economic administrative law” & #xff0c; according to Professor Zhang Limin & #xff1a; on the issue of extraterritorial effects, there is a “non-extraterritorial assumption” (the presumption against external effects), i.e. all laws in principle have only territorial effect. The following exceptions exist: xff1a; (1) exceptions to clear legislative intent xff1b; (2) exceptions to adverse consequences xff1b; and (3) exceptions to the place of conduct.
基于此，924通知原则上仅具有中国境内的效力，第一条第三款明确规定的域外管辖情形当然是有效的，对于未明确规定的延伸问题，应当认为，924通知未对其作出否定性评价。笔者认为：境内居民，为不向中国居民提供服务的虚拟货币交易所，提供技术服务等支持的，不属于行政违法行为。
Based on this xff0c; 924 notifications have in principle only effect in China xff0c; xff0c, expressly provided for in article 1, paragraph 3, extraterritorial jurisdiction is certainly valid xff0c; extension issues not expressly specified xff0c; xff0c; 924 notifications should be considered not negative. In my opinion xff1a; residents in xfff0c; virtual currency exchange xff0c, which does not provide services to Chinese residents; xff0c, which is supported by technical services, etc.; it is not an administrative offence .
刑法规制的进路
The way to the criminal justice system
因我国行政法多为刑法分则中具体犯罪行为的前置法，有观点认为，不构成行政违法的行为自然不属于刑法规制的犯罪行为，但严格从法条出发的解读却与这一通说观点相悖。
Because our administrative law is the prelude to specific offences in the penal sub-rules xff0c; there is a view that xff0c; that acts that do not constitute administrative offences do not naturally fall under the criminal law regime xff0c; but a strictly legal interpretation contradicts this general view.
为境外交易所提供服务的帮助行为是否构成犯罪很大程度上取决于境外虚拟货币交易所可否被评价为犯罪。在虚拟货币交易所屏蔽中国IP的基础上，我国刑法对其规制的进路仍有二项：
Whether the service provided to an offshore exchange constitutes a crime depends to a large extent on whether the offshore virtual currency exchange can be evaluated as an offence.
其一是属地管辖，根据《刑法》规定，凡在中国领域内犯罪的，都可适用刑法，而犯罪的行为或者结果有一项发生在中国领域内的，就认为是在中国领域内犯罪。如虚拟货币交易所的决策层或部分经营人员在境内，对外发布指令，实施我国刑法所不容许的行为的，司法机关可根据属地管辖原则对其予以刑法规制。
One is territorial jurisdiction xff0c; according to the provisions of the Criminal Code xff0c; xff0c where the offence is committed in the territory of China; xff0c; xff0c where the offence is committed in the territory of China; xff0c where the offence is committed or the result is a xff0c where the offence is committed in the territory of China; it is considered that the offence is committed in the territory of China . e.g. where the decision-making level or part of the operator of the virtual currency exchange is in the territory xff0c; the issuance of instructions to the outside world xff0c; xff0c where the act is not permitted under the criminal law of the country; and where the judicial authorities may criminalize it under the principle of territorial jurisdiction.
其二是属人管辖，我国《刑法》第七条第一款规定：“中华人民共和国公民在中华人民共和国领域外犯本法规定之罪的，适用本法，但是按本法规定的最高刑为三年以下有期徒刑的，可以不予追究。”因不少境外虚拟货币交易所的实控人与经营人员为中国人，如虚拟货币交易所的境外经营行为属于我国刑法所规定的犯罪行为的，纵使实控人与经营人员在境外，司法机关亦可能根据属人管辖原则进行刑法规制。
The second is subject to personal jurisdiction xff0c; article 7, paragraph 1, of our Penal Code provides xff1a; “The citizens of the People's Republic of China who have committed xff0c of crimes under this Law outside the territory of the People's Republic of China
属人管辖的展开
person-specific development
属地管辖的风险可以通过从业者与公司的迁移予以规避，但国籍难以更改，属人管辖的问题值得进一步展开：
The risk of territorial jurisdiction can be circumvented through the movement of operators and companies xff0c; however, it is difficult to change nationality xff0c; the issue of personal jurisdiction deserves further development xff1a;
1、行为符合当地法律法规能否出罪
1 whether or not acts in conformity with local laws and regulations commit a crime
我国79年《刑法》第四条在规定属人管辖的同时，确立了双重犯罪原则：“按照犯罪地的法律不受处罚的除外”。但现行有效的97年《刑法》已摒弃了这一原则。从立法目的来看，否定双重犯罪原则、以“国家利益说”和“忠诚义务说”构建的缺少限制的我国现行属人管辖规定是不会考虑行为人实施的行为与当地法律法规契合性的。
Article 4 of our Penal Code of 79 years, while providing for personal jurisdiction xff0c; establishes the principle of dual criminality xff1a; “except to the extent that it is not punishable under the law of the place where the crime was committed.” However, the 97-year Criminal Code, which is in force, has rejected this principle .
2、未侵害中国法益能否作为出罪事由
2 Whether the non-violation of China's legal interests can be regarded as a crime by
诚然，虚拟货币交易所可能构成的罪名多为经济犯罪，该等罪名所保护的法益是我国社会主义市场经济秩序的良善运行，而境外虚拟货币交易所的经营行为不会侵害我国的市场经济秩序，但是，缺少双重犯罪原则的属人管辖制度成立逻辑在于公民负有国民忠诚义务，该等义务要求公民在境外仍需遵守我国《刑法》的规定。
It is true that xff0c; that the offences that may be committed by the Virtual Currency Exchange are mostly economic crimes xff0c; that the law protected by these offences is the good operation of our socialist market economy order xff0c; that the conduct of the offshore Virtual Currency Exchange will not infringe upon our market economy xff0c; but xff0c; that the logic of the establishment of the personal jurisdiction system in the absence of the principle of dual criminality is that citizens have national loyalty obligations xff0c; and that these obligations require citizens to remain subject to the provisions of our Penal Code abroad.
确切的说，境外实施经济犯罪侵害的法益虽然主要是犯罪地国的法益，但对我国的法益亦存在侵害，这种侵害集中为国家形象的损害，具有一定抽象性。
To be precise, xff0c; while the legal benefits of committing economic crimes abroad are mainly those of the country where the crime was committed xff0c, there is also the legal benefits of xff0c; this aggression is concentrated on damage to the image of the State xff0c; it is somewhat abstract.
因此，不存在法益侵害的逻辑可能被“国家利益说”和“忠诚义务说”所保护的国家形象法益所否定。
xff0c; 's logic of non-jurisdiction may therefore be negated by
观点与经验 Perspectives and Experiences “忠诚义务说”是权威刑法的表现，在主张自由刑法、尊重人权的当前社会，难以得到绝大多数国家的肯定。如公民的境外行为在行为地为法律法规所许可，从保护人权的角度来说，我们不应当剥夺公民这一行使权利的自由。事实上，对属人管辖缺少限制的问题已经引发了很多学者的讨论，多数观点认为应当适当引入双重犯罪等原则作为限制措施。 “The duty of fidelity” is an expression of authoritative criminal law xff0c; in the current society xff0c, which advocates liberal criminal law and respects human rights; it is difficult to obtain the recognition of the overwhelming majority of countries. For example, citizens’ acts abroad are permitted by law and by law xff0c; xff0c in terms of the protection of human rights; we should not deprive citizens of this freedom to exercise their rights. In fact xff0c; the issue of lack of limitation of jurisdiction ratione personae has given rise to discussion by many scholars xff0c; the majority view is that the principle of double criminality should be appropriately introduced as a measure of constraint. 事实上，因在境外对外国人实施当地不为罪的行为而构成我国犯罪的，在司法实践中非常罕见，发案风险极低。为进一步减小风险，笔者建议境内有关人士向律师、法学专家等法律服务提供者寻求帮助，确立行为边界。 In fact, xff0c; xff0c, which constitutes a crime in our country as a result of the local decriminalization of an alien abroad; xff0c, which is very rare in judicial practice; the risk of a crime is very low. To further reduce the risk xff0c; I suggest that persons in my country seek help from legal service providers such as lawyers, legal experts, etc. xff0c; and establish boundaries of conduct. 人人拥有免于恐惧与匮乏的自由。 Everyone is free from fear and want. 管辖 | 为境外虚拟货币交易所提供服务，是否为中国法律所不容许？ - 知乎 (zhihu.com) 加密数字货币（英文：Cryptocurrency，常常用复数Cryptocurrencies，又译密码货币，密码学货币）是一种使用密码学原理来确保交易安全及控制交易单位创造的交易媒介，是数字货币（或称虚拟货币）的一种。加密数字货币基于去中心化的共识机制，在区块链技术的驱动下，日益兴盛[1]。与此同时，由于加密数字货币的非法定性，加之我国对虚拟货币监管的持续加码，相应的法律政策风险应运而生。 Encrypted digital currency xff08; English xff1a; Crypturrecy， often with a complex number Cryptocurrences， also translated password currency xff0c; cryptographic currency xff09; a transaction medium using cryptological principles to ensure the security of transactions and control of transaction units xff0c; a digital currency xff08; or a virtual currency xff09; 行政监管规制指引 2017年9月4日，中国人民银行等七部委发布《关于防范代币发行融资风险的公告》（以下简称《公告》），我国境内不再允许加密数字资产交易所直接进行法币与加密数字货币之间的兑换交易。 xff0c of 4 September 2017; Proclamation of the People's Bank of China and seven other ministries on the Protection against the Risk of Financing the Issue of Currency & xff08; xff09; xff0c; exchange between French currency and encrypted digital currency is no longer allowed directly in our territory. 2021 年国家发展改革委等部门专门印发《关于整治虚拟货币“挖矿”活动的通知》，同年九月，中国人民银行、中央网信办、最高人民法院、最高人民检察院等十部门联合发布《关于进一步防范和处置虚拟货币交易炒作风险的通知》（以下简称《通知》），将加密数字货币相关业务定性为非法金融活动。 In 2021, departments such as the National Development Reform Commission issued a circular on the management of virtual currency “mining” activities xff0c; xff0c of September of the same year; and 10 departments such as the People's Bank of China, the Central Networking Office of Information, the Supreme People's Court and the Supreme People's Procuratorate jointly issued a circular on the further prevention and disposal of the risks involved in virtual currency transactions xff08; xff09; fff0c; and characterized encrypted digital currency-related operations as illegal financial activities. 2022年4 月 14 日，中国人民银行支付结算司司长温信祥在国新办新闻发布会上表示，要加强对虚拟货币等新型领域风险防范，全方位堵截犯罪资金。 14 April 2022 xff0c; Win Xinxiang, Director of the Payments Settlement Department of the People's Bank of China, stated at the new national press conference xff0c; increased risk prevention in new areas, such as virtual currency xff0c; and full-scale interdiction of criminal funds. 关于对数字货币金融的监管，我国在金融法、行政法等法律规范方面皆存在缺位问题，至今还没有成型的针对数字货币的金融行政监管法律。本文将针对近期“加密金融服务商”在中国境内的经营业务进行分析，解读我国有关加密数字货币的相关法律政策并提出相应建议。 With regard to the regulation of digital monetary finance & #xff0c; with regard to the country's various legal norms, such as financial law and administrative law & #xff0c; and with regard to the financial administrative regulation of digital money, which has not yet been adopted. This paper will analyse the recent operations of “encrypted financial service providers” in China & #xff0c; and interpret and make recommendations on the country's relevant laws and policies on encrypted digital money. 一、有关加密金融服务商在中国境内设有经营场所的违法性认定及责任追究探讨 . >.
实务中存在加密金融服务商的住所以及注册地均为中国香港，但是相关迹象表明其对外投资的中国大陆公司实际运营着加密金融服务交易平台，提供了针对大陆居民开放的虚拟货币交易服务。
In practice, encrypted financial service providers have their residences and registrations in Hong Kong, China xff0c; however, mainland China companies that indicate that they are investing abroad actually operate an encrypted financial services trading platform xff0c; and virtual currency trading services open to mainland residents are provided.
依据《通知》第（十一）条，“市场监管部门加强市场主体登记管理，企业、个体工商户注册名称和经营范围中不得含有“虚拟货币”“虚拟资产”“加密货币”“加密资产”等字样或内容。”可以推断出，在我国注册成立以虚拟货币交易为经营范围的企业（或者实际以虚拟货币交易为主要营业范围的经营场所）属于违法行为。且根据我国《通知》第（二）条已明确，虚拟货币相关业务活动属于非法金融活动，一律严格禁止、依法取缔，构成犯罪的依法追究刑事责任。
xff08; XIxff09; xff0c; “Market regulators strengthen the management of the registration of market subjects xff0c; the names of enterprises, individual business owners registered and the scope of their operations may not contain the words “encrypted currency” or “encrypted asset” of “virtual currency” xff0c.” It may be deduced that xff0c; the incorporation in the country of enterprises operating under virtual currency transactions xff08; or the actual use of virtual currency transactions as the main place of business xff09; it is an offence to establish criminal liability under the law, in accordance with the provisions of our Circular No. xff08; IIxff09; article xff0c; the virtual currency-related operations are illegal financial activities xff0c; xfff0c are strictly prohibited and legally prohibited; xff0c; and constitute a crime.
也就是说，在中国大陆无论是设立加密金融服务交易平台还是从事与加密金融服务相关的业务均为属于非法行为。然而《通知》并未明确该非法行为所应承担的法律责任系何种责任。
In other words, xff0c; it is illegal in mainland China to set up an encrypted financial services trading platform or to conduct business related to encrypted financial services. However, the Circular does not specify the liability for the illegal act.
实务中往往参照较为成熟的虚拟货币——“比特币”的法律规定，依据中国人民银行 ，工业和信息化部， 中国证券监督管理委员会联合发布的银发〔2013〕289号文件《关于防范比特币风险的通知》（以下简称2013年《比特币风险防范通知》）第三条，“依据《中华人民共和国电信条例》和《互联网信息服务管理办法》，提供比特币登记、交易等服务的互联网站应当在电信管理机构备案。电信管理机构根据相关管理部门的认定和处罚意见，依法对违法比特币互联网站予以关闭。”2013《比特币防范通知》系部门规章，且其引用的相关管理部门的处罚文件均为行政法规，由此可见针对虚拟货币交易违法者，以行政处罚责任为主的立法导向。
In practice, reference is often made to the more mature virtual currency, the “bitcoin” legal provisions & xff0c; based on the People's Bank of China & #xff0c; the Ministry of Industry and Informationization & #xff0c; the Silver Issue Circular on Protection against Bitcoin Risks & #xff08, issued jointly by the Chinese Securities Supervisory Board (2013) 289; hereinafter referred to as the Bitcoin Risk Prevention Circular xff09, 2013; article III xff0c; the “Internet Stations providing services such as Bitcoin registration, transactions etc., in accordance with the Telecommunications Regulations of the People's Republic of China & the Internet Information Services Management Scheme & xff0c; thus, the Internet Station should be filed with the Telecommunications Authority.
二、加密金融服务商通过改变持股主体，与中国大陆公司进行切割，能否规避其直接在中国境内设置技术和运营团队的各种限制
ii. Encrypted financial service providers by changing the shareholder xff0c; cutting xff0c with mainland China companies; and whether they can avoid the limitations of establishing technical and operational teams directly in China
改变持股主体实质上只是在外观形式上多加掩盖其实际的违法行为。依据《通知》第（七）条，“全方位监测预警，各省级人民政府充分发挥地方监测预警机制作用，线上监测和线下排查相结合，提高识别发现虚拟货币交易炒作活动的精度和效率。人民银行、中央网信办等部门持续完善加密资产监测技术手段，实现虚拟货币“挖矿”、交易、兑换的全链条跟踪和全时信息备份。金融管理部门指导金融机构和非银行支付机构加强对涉虚拟货币交易资金的监测工作。”的规定，严令禁止提供加密金融服务、建立虚拟货币财产的交易平台，并不仅仅是通过企业注册登记或者持股控制等组织架构方式识别，而是通过业务实质进行准确监测。只要其在中国境内的运营团队实际上实施了搭建“虚拟财产交易平台”的行为，就属于应当被禁止的情形，简单的改变企业持股主体并不能直接规避相关的限制。
The change of ownership is essentially merely an increase in the degree of precision and efficiency of the actual violations. According to Circular & #xff08; VII#xff09; & #xff0c; “A full-scale monitoring of early warning systems & #xff0c; provincial people's governments fully utilizing the role of local monitoring early warning mechanisms & #xff0c; #ff0c combined on-line monitoring and off-line screening; increasing the accuracy and efficiency of the identification of activities where virtual currency transactions are discovered; the continuous refinement of encryption technology for asset monitoring by departments such as People's Bank, Central Network Trust Office, etc. xff0c; the direct identification of xff0c not only through organizational structures such as registration of businesses or holding control; the full chain tracking of transactions, and back-up of information on a full-time basis.
三、中国大陆用户通过VPN在加密金融服务商运营的加密金融交易服务网站上进行交易的法律后果分析
III. Analysis of the legal consequences of transactions conducted by users in mainland China via VPN on the encrypted financial transaction service website operated by encrypted financial service providers
依据《通知》第（四）条，“参与虚拟货币投资交易活动存在法律风险。任何法人、非法人组织和自然人投资虚拟货币及相关衍生品，违背公序良俗的，相关民事法律行为无效，由此引发的损失由其自行承担；涉嫌破坏金融秩序、危害金融安全的，由相关部门依法查处。”也就是说，中国大陆用户明知其进行的为虚拟财产交易，不存在被诈骗的情形下，仍然进行投资的行为并不发生民事法律效果，其行为后果不被法律所保护，属于非法从事民事活动。
xff08; xff09; xff0c; “There is a legal risk of participation in a virtual money investment transaction.” That is, xff0c; xff0c; xff0c, which is contrary to public order; xff0c, which is invalid under the relevant civil law; xff1b; xff0c, which is suspected of undermining the financial order and endangering financial security; is subject to investigation by the relevant authorities according to the law.” That is, xff0c; xff0c; users on the mainland of China know that they are engaged in a virtual property transaction xff0c; xff0c, which is not subject to fraud; there is still no civil law effect xff0c; the consequences of their actions are not protected by the law xff0c; and they are engaged in unlawful civil activities.
在（2022）湘10民终1053号梁亮、张慧慧合伙协议纠纷一案中，梁亮与张慧慧协商以入股方式合伙购买矿机用以虚拟货币“挖矿”。2021年6月11日，梁亮与张慧慧签订一份《合伙协议》，约定双方经过友好协商，就chia项目合伙相关事宜达成以下协议：1.双方出资，相等金额，各占50%股份；2.盈利分配，各占50%；3.双方不允许退股，不允许转让，如需转让必须经得双方同意。梁亮与张慧慧确认双方之间存在合伙关系，但双方就合伙事项并未进行清算。庭审中，梁亮陈述，梁亮共向张慧慧账户转入52,000元投资款，且矿机货币收益一直亏损状态。张慧慧陈述，认可收到梁亮50,000元投资款，但梁亮作为投资者应当承担亏损。法院认为根据上述通知的规定，双方签订的案涉《合伙协议》以及合伙进行虚拟货币挖矿的行为无效，由此引发的损失亦应当由合伙投资人自行承担。当事人非法从事民事活动，并据此主张权利的，不应得到人民法院的支持。
xff0c of 11 June 2021; xff0c; xff0c of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of of
四、境外虚拟货币交易平台允许中国境内用户在其网站交易的行为性质
IV. The behavioural nature of offshore virtual currency trading platforms allowing users in China to trade on their websites
依据《通知》第（三）条的规定，“境外虚拟货币交易所通过互联网向我国境内居民提供服务同样属于非法金融活动。对于相关境外虚拟货币交易所的境内工作人员，以及明知或应知其从事虚拟货币相关业务，仍为其提供营销宣传、支付结算、技术支持等服务的法人、非法人组织和自然人，依法追究有关责任。”
xff08; IIIxff09; xff0c; xff0c; xff0c; “The services provided by the offshore virtual currency exchange to residents in the country via the Internet are also illegal financial activities. For the domestic staff of the relevant offshore virtual currency exchange, xff0c; and for those who know or should know that they are engaged in virtual currency-related operations xff0c; legal persons, illegal persons organizations and natural persons who still provide them with marketing promotion, payment of settlements, technical support, etc. xff0c; and are liable according to law.”
境外虚拟货币交易平台的交易网站在中国境内违法运营，尽管注册账号需要通过VPN进行，但由于VPN属于远程访问技术，只是利用公用网络架设专用网络并未脱离互联网的定义范围[2]。若允许境内用户通过VPN在其网站上进行交易，则属于该条所述的通过互联网向我国境内居民提供虚拟货币交易服务，应当认定为非法金融活动。
Trade sites of virtual currency trading platforms abroad operate illegally in China xff0c; although registration accounts need to be carried out via VPN xff0c; because VPN is a remote access technology xff0c; only the use of public networks to set up dedicated networks does not fall outside the definition of the Internet [2]. If domestic users are allowed to carry out transactions via VPN on their websites xff0c; if the provision of virtual currency trading services via the Internet xff0c, referred to in this article, should be considered illegal financial activity.
五、加密金融服务商在中国境内开展业务的刑事法律风险
V. Criminal legal risk of an encrypted financial service provider operating in China
1.是否构成非法经营罪
1. . .
非法经营罪是指《中华人民共和国刑法》第二百二十五条规定的，违反国家规定，扰乱市场秩序，情节严重的犯罪行为。
The offence of illegal operation is defined as xff0c under Article 225 of the Criminal Law of the People's Republic of China; violation of State regulations xff0c; disturbance of market order xff0c; and aggravated criminal acts.
上海市闵行区人民法院在（2020）沪0112刑初1153号（以下简称“1153号案”）案件夏某某、王某3非法经营一审刑事判决书中认定，被告人夏某某等人未经国家有关主管部门批准，非法从事股票、股指期货、虚拟货币交易等业务，扰乱市场秩序，情节严重，其行为已构成非法经营罪。
In xff08; 2020xff09; 0112 1153 xff08; 1153 xff09 ff09
湖南省邵阳市双清区人民法院在（2020）湘0502刑初75号案件罗洪波、裴互毫非法经营一审刑事判决书中认定，被告人罗洪波、裴互毫、赖凤娇、林春明违反国家规定，经营代币融资交易平台、发行代币吸收资金，进行非法网络平台的经营活动，扰乱市场秩序，情节严重，其行为均已构成非法经营罪。
xff0c was found by the People's Court of the Di-Qing District of Xingyang City, Hunan Province, in xff08; 2020xff09; hombo and Pei Xyungfung, in the criminal judgement of the first instance on the illegal operation of the criminal case No. 75 of 0502; xff0c; accused xff0c; accused xff0c; accused xffc; accused xff0c; they have acted in violation of State regulations xff0c; they have operated a platform for the financing of tokens, issued a currency to absorb funds xff0c; engaged in the operation of an illegal network platform xfff0c; disrupted market order xff0c; aggravated circumstances xff0c; and their conduct constitutes an offence of illegal operation.
由此可见，在司法实务中，因该行为未经特别许可，且符合《刑法》第 225 条第 4 项的实体要件“严重扰乱市场秩序”的情况，加之虚拟货币交易使用的是区块链技术，其具有去中心化和不可修改性特征，在诈骗等犯罪中往往会面临取证困难的问题。因此，为实现刑法打击犯罪的目的，司法实务将其扩张到了非法经营罪的规制范围。
This can be seen in xff0c; xff0c in judicial practice; xff0c without special permission for the act xff0c; and xff0c in the case of the material element “serious disturbance of the market order” in accordance with article 225, paragraph 4, of the Criminal Code; combined with the use of block chain technology in virtual currency transactions xff0c; its decentralized and non-modified characteristics xff0c; the difficulty of obtaining evidence in crimes such as fraud. xff0c; thus xff0c; xfff0c for the purpose of combating crime under criminal law; and the extension of judicial practice to the scope of the regulation of criminal activity.
但，我们认为，加密金融货币服务商所从事的虚拟货币交易服务是否构成非法经营罪有待考证。理由在于，非法经营罪的客观构成要件要素是“违反国家规定”“未经批准或许可”和“情节严重”。而刑法中的“违反国家规定”是指“违反全国人民代表大会及其常务委员会制定的法律和决定” 与“国务院制定的行政法规、规定的行政措施、发布的决定和命令”。而虚拟货币交易服务的应运而生再次印证了法律的滞后性特征，以至于目前并未有任何的“国家规定”对之进行专门性的禁止或监管。其中《通知》以及2017年《关于防范代币发行融资风险的公告》虽全面禁止有关虚拟货币交易服务，但由于其均不属于法律法规或者国务院决定、措施、命令的效力层级，达不到刑法上“国家规定”的高度。有鉴于此，基于罪刑法定原则，我们认为虚拟财产交易服务在实践中是否构成非法经营罪具有很大的辩护空间。
However, xff0c; we believe that xff0c; whether the virtual currency transaction services performed by the encrypted financial money service provider constitute an offence of illegal operation is to be assessed. The reason is that xff0c; the objective constituent elements of the offence of illegal operation are “unauthorized or authorized” and “serious circumstances.” In criminal law, “violation of the laws and decisions of the National People's Congress and its Standing Committee” refers to “violation of the laws and decisions of the National People's Congress and of “administrative regulations, administrative measures, issuance decisions and orders established by the State Council.” The fact that the operation of the virtual currency transaction services is supposed to reprove the delayed character of the law xff0c; so much as there is currently no “state regulation” specifically prohibiting or regulating them.
2.是否构成非法吸收公众存款罪
2. Whether it constitutes an offence to illegally absorb public deposits
非法吸收公众存款或者变相吸收公众存款是指《中华人民共和国刑法》第一百七十六条规定的，违反国家金融管理法律规定，向社会公众（包括单位和个人）吸收资金的犯罪行为。
Illegal or disguised absorption of public deposits is defined as xff0c under article 176 of the Criminal Code of the People's Republic of China; violation of national financial regulations xff0c; xff08 to the public; xff09 to include establishments and individuals; and xff09 to absorb funds.
尽管，虚拟货币交易平台不为我国监管体系所承认，即平台本身不具有吸收公众资金、提供理财服务的金融机构资质。根据《刑法》第一百七十六条非法吸收公众存款罪，客观上的“非法吸收资金”体现为未经金融监管部门许可，擅自吸收社会公众资金做资本运作的行为。
Although xff0c; the Virtual Money Exchange Platform is not recognized by our regulatory system xff0c; i.e. the platform itself does not possess the qualifications of financial institutions that absorb public funds and provide financial services. Under article 176 of the Criminal Code, the offence of illegally absorbing public deposits xff0c; objective “illegally absorbing funds” is reflected in the unlicensed operation of xff0c; unauthorized absorption of public funds for capital purposes.
单纯从构成融资模式上看加密金融服务商平台符合非法吸收公众存款罪中“擅自吸收社会公众资金”的行为。但，虚拟货币是否属于《刑法》所称的“资金”仍有争议。
An encrypted financial service provider’s platform simply corresponds to the “unauthorised absorption of public funds” in the offence of illegally absorbing public deposits. But xff0c; whether virtual money is “funds” within the meaning of the Penal Code remains controversial.
依据《通知》第一条明确了虚拟货币的性质即虚拟货币不具有与法定货币等同的法律地位，不应也不能作为货币在市场上流通使用。有学者认为，非法集资行为中的 “资金”囊括了金钱和其他财物，虽然虚拟货币不是金钱，但因为比特币等虚拟货币能够自由流通、市场价格明确、具有真实的物质利益，故而可将其视为“其他财产”[3]。从这一意义上讲，将虚拟货币作为刑法意义上的财物完全可以涵摄进“资金”的范畴当中。
According to article 1 of the Circular, the nature of the virtual currency is defined that it does not have legal status equal to that of the legal currency xff0c; it should not be and cannot be used as a currency in the market. Some scholars argue that xff0c; that “money” in illegal fund-raising practices encompasses money and other property xff0c; although virtual currency is not money xff0c; but because virtual currency such as Bitcoin is free to circulate, market prices are clear and has real material benefits xff0c; it can therefore be regarded as “other property”[3].
我们认为，无论虚拟货币是否可以纳入“资金”语义范围，虚拟货币交易本身亦不符合非法吸收公众存款罪的利诱性特征，传统非法吸收公共存款犯罪往往伴随着有“还本付息”或“承诺回报”的特征，而虚拟货币交易服务中，投资者明知虚拟货币价值随市场行情而变动而看中了未来市场并不符合这一特征。除非投资者对此并不知晓，亦即虚拟货币交易服务提供者故意隐瞒事实虚构高回报承诺，若如此则应该归于诈骗罪，而非将其认定为非法吸收公众存款罪。
We believe that xff0c; whether or not a virtual currency can be included in the semantic scope of “money” xff0c; that a virtual currency transaction itself does not meet the enticement characteristic of the offence of illegal absorption of public deposits xff0c; that a traditional offence of illegal absorption of public deposits is often accompanied by a characteristic of “payback” or “commitment of return” xff0c; that a virtual currency trading service xff0c; that an investor knows that a virtual monetary value changes with market conditions xff0c; that a virtual money trading service provider deliberately conceals a de facto high return commitment xff0c; that if so, it should be attributed to fraud xff0c; and that it is not held to be the offence of illegal absorption of public deposits.
合规谏言
我国境内现有监管制度对加密数字货币的合法性持否定态度，且不断出台相应的政策进行严格限制。严格禁止加密数字货币交易平台的创设、运营，若其违反相应政策将会面临“清除”、罚款等行政处罚，只是行政处罚规则尚未明确，往往以引用既有的《治安管理处罚法》、《计算机信息网络国际联网安全保护管理办法》等法规，未来不排除行政监管处罚进一步明确。
The regulatory system in place in the country is negative about the legitimacy of encrypted digital money xff0c; the corresponding policies are constantly being strictly restricted. The creation, operation of encrypted digital currency trading platforms xff0c is strictly prohibited; administrative penalties such as “cleaning” and fines xff0c will be faced if they violate the corresponding policies xff0c; only administrative penalties are not yet clear xff0c; regulations such as the Security Administration Sanctions Act and the International Network Security Protection Scheme for Computer Information Networks are often cited xff0c; administrative sanctions will not be further clarified in the future.
根据我国《刑法》相关规定，纯粹的加密数字货币投资交易行为并不属于我国刑法的规制范围，之所以近年来与加密数字货币有关的犯罪频发，是因为加密数字货币交易平台以及交易过程易被当作实施特定犯罪的工具或者手段，在涉及加密数字货币交易的过程中易触发诈骗、非法吸收公众存款、传销、洗钱等犯罪。
In accordance with the relevant provisions of our Penal Code, xff0c; pure cryptographic digital money investment transactions do not fall within the scope of our criminal law xff0c; the reason for the frequency of crimes related to encrypted digital currency in recent years xff0c; the fact that encrypted digital money trading platforms and the course of transactions are easily used as instruments or means for the commission of specific crimes xff0c; and the fact that in the course of transactions involving encrypted digital money transactions, fraud, illegal absorption of public deposits, distribution, money laundering etc. are easily triggered.
结语
随着区块链法治与政策背后所蕴含的国家战略思维与风险防控需求不断提升将对数字货币的监管造成持续的影响，虚拟货币法律风险将成为国家金融体系监管下的一大重点，在加强对数字货币的法律规制与监管路径，建立和完善数字货币法律监管框架和制度的基础上，未来不排除国有金融部门与非国有金融进行创新企业合作，大力推进国家对金融科技的探索。
The increasing need for national strategic thinking and risk control underlying the rule of law and policy of the block chain will have a sustained impact on the regulation of digital money xff0c; virtual currency legal risk will be a major focus under the regulation of the national financial system xff0c; the strengthening of legal regulation and regulatory pathways for digital money xff0c; the establishment and refinement of a legal regulatory framework and regime for digital money xff0c; the future exclusion of innovative business cooperation between the State-owned financial sector and non-State finance xff0c; and a strong push for national exploration of financial science and technology.
注释：
note #xff1a;
[1]程雪军,李心荷. 论加密数字货币的法律风险与治理路径：从比特币视角切入[J]. 电子政务:1-15
[1] Snowflies, Lee Koo-ho. Legal risk and governance path for encrypted digital currencies xff1a; moving into [J]. E-government from a bitcoin perspective: 1-15
[2]乔向杰，张凌云，黄玉婷编著．旅游信息化基础教程：中国旅游出版社，2016.01：第98页
[2] Jay #xff0c; Zhang Lingyun #xff0c; Huang Yut Ting, ed. xff0e; Basic Course on Tourism Information xff1a; China Tourism Press xff0c; 2016.01xff1a; p. 98
[3]邓建鹏，《监管真空期 ICO 如何自我救赎?》载《上海证券报》2017年第12期 。
[3] Dunjian & #xff0c; How can ICO itself be redeemed during the Regulatory Vacuum? The Shanghai Securities Bulletin No. 12 of 2017.
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