摘要： Facebook推出的天秤币（Libra）意图建立全球性的金融基础设施和货币体系，一方面社会期待其发挥分布式金融的优势降低信任成本，推进普惠金融；另一方面也引发了有关金融稳定、法律合规、隐私保护的忧虑。Libra更倾向于成为一种超主权货币，而且可能通过数字货币交易平台等渠道绕开我国资本和互联网的管制，从而引发数字货币整体风险。个案研究Libra的应对问题将因数字货币监管配套措施的不完善而陷入监管悖论，必须在监管延伸路径下将Libra的个案监管扩大至数字货币整体监管框架的建立。数字货币监管的现实日益严峻，需要通过明确数字货币法律属性、以交易平台为抓手传递监管效果、惩治违法行为与加强投资者教育、完善并执行《区块链信息服务管理规定》等方式，应对数字货币监管面临的新挑战。应加强区块链和数字货币的治理，在传统金融监管体系之外增加科技监管维度，应对金融科技带来的新风险。
关键词:
天秤币（Libra）,
金融科技,
金融监管,
数字货币,
监管科技
Abstract:
Libra, the global cryptocurrency launched by Facebook, intends to establish a global financial infrastructure and monetary system. On the one hand, the society expects to take advantage of distributed finance to reduce the cost of trust and promote inclusive finance; On the other hand, it also raises concerns about financial stability, legal compliance and privacy protection. Libra is more likely to become a kind of super sovereign currency, and may bypass China’s capital and internet control through cryptocurrency trading platform and other channels, thus causing the overall risk of digital currency. The case study of Libra’s response will fall into a regulatory paradox due to the imperfection of the supporting measures of digital currency supervision. It is necessary to expand the case supervision of Libra to the establishment of the overall regulatory framework of digital currency under the supervision extension path. The reality of digital currency supervision is increasingly severe. We should strengthen the governance of blockchain and digital currency, increase the dimension of scientific and technological supervision beyond the traditional financial supervision system, and deal with the new risks brought by financial technology.
Key words:
Libra,
financial technology,
financial regulation,
cryptocurrency,
regulatory technology
杨东, 马扬. 天秤币（Libra）对我国数字货币监管的挑战及其应对[J]. 探索与争鸣, 2019(11): 75-85.
Yang Dong & Ma Yang. Libra’s Challenge to China’s Cryptocurrency Regulation and Its Response[J]. Exploration and Free Views, 2019(11): 75-85.