数字资产交易的规范路径及其展开

The Normative Path of Digital Asset Trading and its Unfolding

法律意义上的数字资产几乎涵盖所有数字化表达的价值形式,以数字资产交易为视角,可以系统性展开数字资产的法律规范设计。为化解当前数字资产发展面临的创新与监管矛盾,需要从交易法及监管法两个路径展开数字资产交易的规范制定。交易法建立数字资产的交易保护框架,实现数字资产交易中的使用功能以促进价值保护;监管法实现数字资产交易中的资金融通功能以促进价值流转,推动数字资产在交易中的价值增长进而促进经济发展的同时,维护市场稳定与安全。具体而言,交易法规范路径应当围绕数字资产交易中的利益设定与权益救济而展开;监管法规范路径则需以风险防控为核心,围绕监管权力配置、行为监管框架以及制度性保障工具展开。

Digital assets in the legal sense cover almost all forms of value expressed digitally,and the design of legal norms for digital assets can be carried out systematically from the perspective of digital asset transactions.In order to resolve the contradiction between innovation and supervision of digital assets,it is necessary to develop the regulation of digital asset transaction from two paths:transaction law and supervision law.The transaction law establishes the transaction protection framework for digital assets,and realizes the use function of digital asset transactions to promote value protection;The supervision law realizes the financing function in digital asset transactions to promote the value flow,and maintains market stability and security while promoting the value growth of digital assets in transactions and thus promoting economic development.Specifically,the regulatory path of the transaction law should focus on the benefit setting and rights and interests relief in the digital asset transaction;The regulatory path of supervision law should focus on risk prevention and control,and focus on regulatory power configuration,regulatory framework of behavior and institutional guarantee measures.