该本论文全面审视了加密货币领域，特别聚焦于中国这个在加密货币市场中扮演着关键角色但又具有严格监管框架的国家。文章记录了中国加密货币行业的历史发展、显著增长以及随后的严格监管，对这些监管的动机、方法和影响进行了深入分析。起初，中国作为全球加密货币市场的领导者，通过如火币网和OKCoin等平台推动了创新，并主导了比特币挖矿业。中国对加密货币的热情和积极参与得益于其科技进步和相对宽松的监管环境，一直持续到2017年。然而，对投机风险、金融诈骗和资本外逃的担忧导致了监管态度的转变。转折点出现在2017年，中国人民银行（PBOC）发布了全面禁止首次代币发行（ICO）的禁令，并要求国内所有加密货币交易所关闭。这一严厉措施是为了遏制与波动性极高的加密货币市场相关的金融风险，增强消费者保护，并对资本流动进行更严格的控制。随后，论文讨论了这些监管措施的扩展影响，包括主要的加密货币业务和挖矿活动被迫从中国搬迁。这种转移不仅影响了中国在全球加密货币等级制度中的位置，还影响了全球加密货币的运作和市场。从监管角度看，论文深入探讨了中国监管机构为应对加密货币带来的挑战而建立的法律框架。它检视了执行机制和各种监管机构的角色，强调了旨在维持金融稳定和保护投资者的全面而严格的监管方法。此外，论文还探讨了这对全球金融系统的更广泛影响，强调了中国的严格政策如何促使世界各地重新评估加密货币运营。考虑到其他国家可能如何在加密货币作为技术创新的潜在好处与防止金融不稳定和非法活动的监管需求之间取得平衡。总之，论文认为中国的监管策略反映了在促进技术创新与减轻金融风险之间的复杂平衡行为。本研究的发现为加密货币监管的动态提供了宝贵见解，并为全球金融生态系统中的政策制定者和利益相关者提供了基础视角。
This thesis provides a cover-all examination of the cryptocurrency environment, focusing specifically on China, a nation that has played a pivotal role in the cryptocurrency market yet possesses strict regulatory frameworks. It chronicles the historical development, meaningful growth, and posterior strict regulation of the cryptocurrency sector in China, offering an in-depth analysis of the motives, methods, and impacts of these regulations.Initially, China emerged as a global leader in the cryptocurrency market. The enthusiasm and strong participation in cryptocurrencies were driven by China‘s technological advancement and relatively lax regulatory. However, concerns over speculative risks, financial fraud, and capital flight led to a shift in regulatory posture.The turning point came in 2017 when the People‘s Bank of China (PBOC) issued a blanket ban on Initial Coin Offerings (ICOs) and mandated the shutdown of all cryptocurrency exchanges within the country. This drastic measure was part of broader efforts to curb the financial risk associated with the volatile cryptocurrency market, emphasize consumer protection, and assert greater control over capital flows.Eventually, the thesis discusses the extended implications of these regulations, including the displacement of major cryptocurrency businesses and mining activities out of China. This shift has not only impacted China‘s position in the global cryptocurrency hierarchy but also influenced global cryptocurrency operations and markets.From a regulatory perspective, the thesis delves into the legal frameworks established by Chinese regulators to manage the challenges by cryptocurrencies. It examines the enforcement mechanisms and various regulatory bodies, emphasizing the thorough regulatory approach aimed at maintaining financial stability and protecting investors.In conclusion, the thesis asserts that China‘s regulatory strategies reflect a complex balancing act between advancing technological innovation and mitigating financial risks. The findings from this study provide valuable insights into the dynamics of cryptocurrency regulation and offer a foundational perspective for policymakers and stakeholders in the global financial ecosystem.
