Article published in the academic journal of the Supreme People's Court: Commercial law reforms for digital transactions, electronic currency and virtual property

According to Foresight News, the official account of the Supreme People's Court published an article "Reforms of Commercial Law Facing Digital Transactions, Electronic Currency and Virtual Property" in its academic journal "Digital Rule of Law", which stated: The amendments to the "Uniform Commercial Code" jointly revised by the United States Uniform Law Commission and the American Law Institute will be revised in 2022 It was officially passed in 2016 and subsequently widely adopted by U.S. state legislatures. It accepted a variety of transaction methods including electronic forms, clarified the relationship between tangible currency, central bank digital currency and other virtual currencies, created a new property type of "controllable electronic records", and clarified the control and circulation rules of such property. China's civil and commercial regulations should also be oriented towards the development of digital transactions, electronic currency and virtual property, and carry out practice-oriented legal improvements, thereby stimulating economic and technological development and gaining advantages in international institutional competition.
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