论我国推行区块链证券结算的可能及法律监管路径  

Feasibility of Promoting Blockchain-Based Securities Settlement in China and Its Legal Approach of Supervision

作　　者：马其家[1] 卜学民 Ma Qijia;Bu Xuemin

机构地区：[1]对外经济贸易大学法学院

出　　处：《中国社会科学院研究生院学报》2020年第6期43-52,共10页Journal of Graduate School of Chinese Academy of Social Sciences

基　　金：对外经济贸易大学双一流学科建设项目“区块链时代金融法律规则创新研究”(710063);对外经济贸易大学研究生科研创新基金资助项目“区块链证券结算的可能与限度”(274201963)的阶段性成果

摘　　要：目前的中心化证券结算存在天然的信用风险,而且结算流程的复杂性增加了结算成本、降低了效率。区块链证券结算则通过技术创新、契约创新和制度创新为这些问题的解决提供了可能。但由于目前区块链证券结算的技术和体系尚不成熟,法律监管制度也并不匹配,所以我国需要遵循可行的路径克服以上挑战来实现区块链证券结算,即配置相应的法律制度,明确区块链证券结算下新出现的法律问题,实施适应性监管来平衡安全和创新,并在监管下循序渐进地开展应用。There exist natural credit risks in current centralized securities settlement,and the complexity of the settlement process raises the cost and lowers the efficiency.By contrast,blockchain-based securities settlement provides the possibility to solve these problems by technological innovation,contract innovation and institutional innovation.However,the technologies and system for blockchain-based securities settlement are immature,and relevant legal regulations are not up-to-date.Therefore,China needs to overcome such challenges to achieve blockchain-based securities settlement through feasible approaches,such as designing corresponding legal regulations,clarifying new legal issues in blockchain-based securities settlement,conducting adaptive supervision to balance security and innovation and secure a gradual and orderly application of blockchain-based securities settlement under supervision.

关 键 词：区块链 证券结算 法律监管创新 适应性监管 

分 类 号：D922.28[政治法律—经济法学]