Dilemmas and Countermeasures in the Criminal Law System for Offences Involving Virtual Currencies

Chenyang Huang

doi:10.54254/2753-7048/55/20240097

Research Article

Open access

Published on 31 July 2024

Download pdf

Huang,C. (2024). Dilemmas and Countermeasures in the Criminal Law System for Offences Involving Virtual Currencies. Lecture Notes in Education Psychology and Public Media,55,1-10.

Export citation

Dilemmas and Countermeasures in the Criminal Law System for Offences Involving Virtual Currencies

Chenyang Huang *^,1,

¹ Zhongnan University of Economics and Law

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2753-7048/55/20240097

Abstract

With the rapid development of science and technology, the new asset form of virtual currency has gradually entered people's vision. However, with its wide application, crimes involving virtual currency are also increasingly rampant, ranging from theft, fraud to money laundering and illegal fundraising. These criminal acts not only damage the legitimate rights and interests of investors, but also pose a serious threat to financial order and social stability. The increasingly prominent crimes involving virtual currency pose new challenges to the traditional legal system. The anonymity and decentralization of virtual currency make criminal acts more concealed and cross-border, which undoubtedly increases the difficulty of legal supervision and crackdown. This paper uses literature analysis, case studies, logical reasoning, and other research methods to deeply explore the governance problems of crimes involving virtual currency. Aiming at the ambiguity of its legal attribute, the difficulty of value evaluation, the challenge of determining "knowingly" committing a crime, and the problem of criminal disposal, this paper proposes a series of targeted countermeasures, such as clarifying the legal attribute of virtual currency, building a standardized value evaluation system, accurately identifying "knowingly", and improving the criminal disposal procedures of virtual currency involved in the case, expecting to contribute to building a safer and more stable virtual currency market environment and providing a strong guarantee for the healthy development of the digital economy.

Keywords

Virtual currency, Criminal governance, Legal attributes, Knowingly determining, Criminal disposition

View pdf

References

[1]. Wang Yan. (2024) Research on Judicial Identification of Crimes Involving Virtual Currency. Yangzhou University.

[2]. (2019) Hu 0115 Xing Chu No.4419.

[3]. (2020) Zhe 0109 Xing Chu No.1238.

[4]. (2016) Zhe 10 Xing Zhong No.1043.

[5]. (2020) Liao 09 Xing Zhong No.23.

[6]. H.R.6154 - Crypto-Currency Act of 2020. Retrieved from https://www.congress.gov/bill/116th-congress/house-bill/6154.

[7]. Court Rules Bitcoin Is a Form of "Money" Under Washington D.C. Money Transmitters Act. Retrieved from https://btcmanager.com/court-rules-bitcoin-money-washington-dc-money-transmitters-act/.

[8]. CFTC ins Trial Against Virtual Currency Fraudster. Retrieved from https://www.cftc.gov/PressRoom/PressReleases/7774-18,2018-08-24/2021-09-15.

[9]. Zhang Jianwen. How to Regulate Digital Financial Assets:Cryptocurrencies and Smart Contracts - A Review of the Draft Law on Digital Financial Assets of the Russian Federation. Journal of Shanghai University of Political Science and Law (Rule of Law Series),2018,33(05):14-23.

[10]. Zhang, Qifei. (2021) On the Criminal Law Regulation of Digital Currency Crimes. Legal Research, 6,56-66.

[11]. Sun, Yu. (2021) The Dilemma and Outlet of Criminal Law Regulation of Crimes Involving Virtual Currency. Juvenile Delinquency, 5,78-87.

[12]. Li, Yunzhao. (2024) Research on the Disposal of Virtual Currency Involved in Criminal Cases. Legal Vision, 10,1-5.

Cite this article

Huang,C. (2024). Dilemmas and Countermeasures in the Criminal Law System for Offences Involving Virtual Currencies. Lecture Notes in Education Psychology and Public Media,55,1-10.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

Volume title: Proceedings of the 3rd International Conference on International Law and Legal Policy

Conference website: https://www.icillp.org/

ISBN：978-1-83558-473-6(Print) / 978-1-83558-474-3(Online)

Conference date: 27 September 2024

Editor：Renuka Thakore

Series: Lecture Notes in Education Psychology and Public Media

Volume number: Vol.55

ISSN：2753-7048(Print) / 2753-7056(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).