Legal Frameworks and Issues in Digital Currency: Insights from Financial Technology

With the rapid advancement of network technology, new payment methods represented by Q coins and game currencies have entered a phase of significant growth. However, these payment methods have a limited scope of application and lack the legal status of fiat currency. The rise of digital currency has profoundly impacted the authority of traditional currency systems. Distinguished by robust payment capabilities, digital currency differs significantly from traditional currency. Yet, due to its relatively brief history, a globally unified definition has yet to be established. Consequently, there is an urgent need to enhance the regulation of digital currency through legislative measures to ensure its orderly and sustainable development.