Analysis of Legal Issues of Bitcoin

Abstract

The birth of Bitcoin brings new concept to the currency issuance and circulation.Its characteristics of decentralization and full electronization challenge the current currency system.Theoretically,Bitcoin possesses all the attributes that the currency has,and it will become real legal currency in circulation as long as legal permission.The use of Bitcoin in circulation now will suffer legal issues such as lack of legal status and credit,difficulty in evidence collection and remedy,jurisdiction conflict and so on.The problems mentioned above could only be fundamentally solved if the authority accelerated legislation,established a uniform dispute settlement mechanism,speeded up the establishment of credit system,and enhanced supervision.