数字人民币流通的激励性法律规制  

Incentive Regulation of Digital Yuan's Circulation

作　　者：柯达 Ke Da

机构地区：[1]华东政法大学经济法学院

出　　处：《地方立法研究》2025年第1期54-70,共17页Local Legislation Journal

基　　金：上海市晨光计划项目“建设上海国际金融中心背景下数字人民币跨境支付的制度保障研究”(23CGA64)的阶段性成果。

摘　　要：数字人民币是数字时代的新型法定货币,通过激励性法律规制推进其发行流通,不仅有助于维护货币主权,而且有利于规范货币发行公权、保护货币财产与个人信息私权。数字人民币的客体特定性与数据留痕效果接近于现金,在离线支付、智能合约等特殊流通场景亦优于私人支付手段,而其依托的双层运营模式则能平衡流通效率与安全。在我国央行的推动下,不同公私主体运用红包消费补贴作为主要激励工具,并辅以公职人员工资发放的方式,有力地促进了数字人民币的推广使用。然而实践中仍存在私人主体参与的激励利益不明晰、仅依赖补贴难以常态化推广等问题,且法偿性的弱化导致了激励与强制之间的不平衡。直面现实挑战并展望未来发展,应建立权责一致的数字人民币多层次运营管理机制,采用消费补贴与负利率相结合的激励性工具,并完善激励与强制相容的货币法偿制度,以推动数字经济时代下货币体系的稳健运行与有序发展。Digital Yuan(e-CNY)is a new form of legal tender in the digital era,and promoting its circulation through incentive legal regulation can not only safeguard monetary sovereignty,but also help regulate the public powers of monetary issuance and protect the private rights of monetary property and personal information.The object specificity and data-tracing effect of e-CNY are close to the cash,and it is also better than private payment mediums in special scenarios such as offline payment and smart contracts.The two-tier model it relies on can balance efficiency and security.On this basis,the People's Bank of China,in collaboration with different public and private entities,has taken subsidies of“lucky money”as the main tool for incentive regulation and the payment of public employees'wages as auxiliary tools,effectively promoting the circulation of e-CNY.However,in practice,the incentive interests of private entities participating in the circulation of e-CNY are still unclear,and it is difficult to normalize the circulation of incentive tools focusing on subsidies,and the weak legal tender also causes the imbalance between incentives and mandates.In this regard,it is necessary to establish a multi-level legal system for e-CNY with the corresponding rights and responsibilities,adopt incentive tools that combine subsidies and negative interest rates,and improve the legal tender system compatible with incentives and mandates.

关 键 词：数字人民币 激励性规制 货币流通 离线支付 智能合约 

分 类 号：F83[经济管理—金融学]