Study on Dispute Resolution of Tort Liability Disputes between Digital Currency Platforms and Users — Case Analysis in China and Abroad

Research Article
Open access

Study on Dispute Resolution of Tort Liability Disputes between Digital Currency Platforms and Users — Case Analysis in China and Abroad

Shuo Xin 1*
  • 1 Chinese Agricultural University    
  • *corresponding author 2020312010218@cau.edu.cn
Published on 26 October 2023 | https://doi.org/10.54254/2753-7048/18/20231308
LNEP Vol.18
ISSN (Print): 2753-7056
ISSN (Online): 2753-7048
ISBN (Print): 978-1-83558-061-5
ISBN (Online): 978-1-83558-062-2​

Abstract

Numerous tort liability disputes have arisen from individuals registering to use digital currency trading platforms and investing in digital currencies in China. This paper mainly adopts the case analysis method and comparative research method through the analysis of the current situation and controversial focus issues of judicial rulings on tort liability disputes between digital currency platforms and users in China, combined with classic overseas cases, summarizes the lessons learned and put forward the proposed ideas for improving the comprehensive governance of digital currency. The study finds that the focal issues of disputes over tort liability between digital currency platforms and users include, but are not limited to, the definition of the nature of the digital currency, the compensation obligations of digital currency platforms, and the damage compensation methods of digital currency transactions. The dilemma of the judicial ruling is due to the incomplete legal system and inconsistent policy interpretation on the one hand and influenced by the macro regulatory attitude on the other. The experience of classic overseas cases in this paper can provide China with improvement ideas to a certain extent.

Keywords:

digital currency, tort liability disputes, dispute resolution, platform and users

Xin,S. (2023). Study on Dispute Resolution of Tort Liability Disputes between Digital Currency Platforms and Users — Case Analysis in China and Abroad. Lecture Notes in Education Psychology and Public Media,18,147-154.
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References

[1]. Qiu, B. Ideas for Adjudicating Disputes over Inheritance of Online Virtual Property. People’s Justice, 2020.

[2]. (2018) Jing 0108 Min Chu No.15687. Beijing Haidian District People’s Court, 2019.

[3]. Wang, L., Wang, P., Bao, S. A Legal Exploration of Dispute Resolution for Bitcoin and Digital Currency-like Disputes. Investec Republican Law Firm, 2021.

[4]. Wang, J. Ideas for Deciding Bitcoin Disputes from the Legal Nature of Bitcoin. Beijing Arbitration, 2020.

[5]. Zeng, X. Analysis on the difficulty of judicial settlement of virtual currency transaction dispute. Jin Tiancheng Law Firm, 2023.

[6]. Liu, H. Research on legal Issues of digital currency investment disputes. Master’s thesis of Shandong University of Finance and Economics, 2022.

[7]. Li, J., Mo, F. Review and Optimization of Civil Judicial Adjudication of Private digital Currency. Guanghe Law Firm, 2021.

[8]. Zhang, C. A Study of the Real Risks of Bitcoin and the Legal Regulation in China. Journal of Chongqing University of Posts and Telecommunications, 2014.

[9]. He, L. Virtual currency supervision experience of America and its enlightenment to our country. Wuhan Finance, 2018.

[10]. Li, M. Research on the legal supervision of virtual currency trading platform. Master dissertation of East China University of Political Science and Law, 2019.

[11]. Yang, B., Han, S. One of the crypto Asset Series from the perspective of cross-border compliance: An Analysis of Mainstream regulatory Trends and Investment Legal Risks in cryptocurrencies. Jin Tiancheng Law Firm, 2022.

[12]. ANDY PAG. Owner of failed Mt. Gox bitcoin exchange, who lost $500m of customers money, in line for over $700m of their funds, due to legal black-hole. 2017. https://www.mtgoxlegal.com/2017/10/27/press-release/

[13]. Dong, J. The enlightenment of bitcoin supervision in Japan to our country. China credit card, 2017.

Cite this article

Xin,S. (2023). Study on Dispute Resolution of Tort Liability Disputes between Digital Currency Platforms and Users — Case Analysis in China and Abroad. Lecture Notes in Education Psychology and Public Media,18,147-154.

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

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About volume

Volume title: Proceedings of the 4th International Conference on Educational Innovation and Philosophical Inquiries

ISBN：978-1-83558-061-5(Print) / 978-1-83558-062-2​(Online)
Editor：Enrique Mallen, Javier Cifuentes-Faura
Conference website: https://www.iceipi.org/
Conference date: 7 August 2023
Series: Lecture Notes in Education Psychology and Public Media
Volume number: Vol.18
ISSN：2753-7048(Print) / 2753-7056(Online)

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References

[1]. Qiu, B. Ideas for Adjudicating Disputes over Inheritance of Online Virtual Property. People’s Justice, 2020.

[2]. (2018) Jing 0108 Min Chu No.15687. Beijing Haidian District People’s Court, 2019.

[3]. Wang, L., Wang, P., Bao, S. A Legal Exploration of Dispute Resolution for Bitcoin and Digital Currency-like Disputes. Investec Republican Law Firm, 2021.

[4]. Wang, J. Ideas for Deciding Bitcoin Disputes from the Legal Nature of Bitcoin. Beijing Arbitration, 2020.

[5]. Zeng, X. Analysis on the difficulty of judicial settlement of virtual currency transaction dispute. Jin Tiancheng Law Firm, 2023.

[6]. Liu, H. Research on legal Issues of digital currency investment disputes. Master’s thesis of Shandong University of Finance and Economics, 2022.

[7]. Li, J., Mo, F. Review and Optimization of Civil Judicial Adjudication of Private digital Currency. Guanghe Law Firm, 2021.

[8]. Zhang, C. A Study of the Real Risks of Bitcoin and the Legal Regulation in China. Journal of Chongqing University of Posts and Telecommunications, 2014.

[9]. He, L. Virtual currency supervision experience of America and its enlightenment to our country. Wuhan Finance, 2018.

[10]. Li, M. Research on the legal supervision of virtual currency trading platform. Master dissertation of East China University of Political Science and Law, 2019.

[11]. Yang, B., Han, S. One of the crypto Asset Series from the perspective of cross-border compliance: An Analysis of Mainstream regulatory Trends and Investment Legal Risks in cryptocurrencies. Jin Tiancheng Law Firm, 2022.

[12]. ANDY PAG. Owner of failed Mt. Gox bitcoin exchange, who lost $500m of customers money, in line for over $700m of their funds, due to legal black-hole. 2017. https://www.mtgoxlegal.com/2017/10/27/press-release/

[13]. Dong, J. The enlightenment of bitcoin supervision in Japan to our country. China credit card, 2017.

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