Challenges and Countermeasures of Private International Law in Cryptocurrency Circulation
(Institute of International Law,Wuhan University,Wuhan 430072,Hubei,China) Abstract:At present,the theoretical field has basically reached a consensus that the legal problems in the circulation of cryptocurrencies need to be solved through the rules of private international law. They believe that private international law ,as the "distribution law",is the best means for the law to intervene in the circulation of cryptocurrencies before the promulgation of special laws and regulations on cryptocurrencies. However,the decentralization and anonymity of cryptocurrencies have become difficult points and challenges in the application of private international law rules. How to use the current private international law rules to solve the new legal problems arising in the circulation of cryptocurrency is the actual needs of cryptocurrency service providers and holders in judicial practice,and also an important guarantee for the healthy and stable development of the cryptoeconomy. Private international law issues in the circulation of cryptocurrencies include jurisdiction and legal application in cryptocurrency- related cases. The jurisdiction problem first solves the mystery of the decentralization and anonymity of cryptocurrencies through case analysis and comparative research methods ,and puts forward the significance of the transformation of jurisdiction from general to special in the cryptocurrency era. Second ,it is explained through practical cases that there is still room for application of traditional geographical jurisdiction with the help of certain alternative methods. Finally ,through the model of jurisdiction negative list,the feasibility of the emerging jurisdictional basis of cryptocurrencies is examined ,and it is pointed out that the concept of jurisdiction in the cryptocurrency era should be considered to reduce conflicts of laws and the actual effectiveness of jurisdiction. The law application part examines the feasibility of the cryptocurrency spatial autonomy theory through historical analysis,discusses the feasibility of emerging legal application link points through the comparative law method,and provides a legal basis for the establishment of emerging links for traditional legal application methods ,such as characteristic implementation methods. The main goal of clarifying the principle of legal application is to assign different cryptocurrency legal relationships to specific jurisdictions ,and it distributes different legal relations of cryptocurrency to certain legal fields;and it analyzes the possibility of the cryptocurrency system consensus mechanism as an applicable law ,and provides a legal basis for the formal and substantive validity of new legal choice clauses with code as the carrier. Generally speaking, people do not need to get lost in the decentralization and anonymity of cryptocurrencies ,and existing private international law rules can solve the problems of jurisdiction and legal application in most cryptocurrency circulation situation.
Key words:cryptocurrency;circulation;private international law;application of laws;jurisdiction