Yu Senqing
With the development of information technology and the wide application of mobile payment, currency has also begun to have a digital technical basis. Legal digital currency refers to a legal currency issued by a financial institution in the form of an encrypted data chain representing a certain specific amount. It itself is not a physical entity, but digital information that is exchanged and stored over the network and has a certain amount of value. From the perspective of characteristics, it is fundamentally different from traditional currencies. Because of this, China's current legal system for the adjustment of traditional banknotes as the object does not fully meet the development and application needs of digital banknotes. In view of this, this chapter focuses on the relevant issues raised by digital currency as the scope of discussion, and summarizes their treatment methods.
Central Bank of China; fiat digital central bank; Chinese regulation