摘要
數位貨幣是一種新興的金融商品，其發展受到社會大眾愈來愈多的關注，對金融市場與經濟的影響也日益增加。有鑒於此，本文乃對數位貨幣進行廣泛且深入的研究，全文探討包括貨幣的演變、數位貨幣的發行、加密貨幣的交易與價值、非同質化代幣、數位貨幣對金融市場與經濟的影響、及數位貨幣的風險與監管等議題。 本文的研究得到以下結論: 數位貨幣將是未來金融市場的發展趨勢，數位貨幣的發行與交易技術仍存在安全疑慮，加密貨幣交易平台蓬勃發展，加密貨幣的價格受許多因素影響、波動劇烈，非同質化代幣的價值備受爭議，非同質化代幣的價格波動受名人與加密貨幣市場影響，穩定幣可以成為金融市場上新興的避險工具，加密貨幣將影響銀行的運作，政府幣存在侵犯個人隱私的疑慮，各國對加密貨幣的監管政策著重於反洗錢與打擊資恐，及各國傾向將加密貨幣與穩定幣納入所得稅與營業稅的計算。根據研究結果，本文對於加密貨幣未來的發展有以下的建議: 數位貨幣的監管政策應著重於資訊揭露、消費者保護、及技術問題，加密貨幣與穩定幣不適合作為交易的支付工具，及政府幣的發行需顧及民眾的交易隱私。
並列摘要
Digital currency is a kind of emerging financial instrument, which has received attention by the society, and its impact on financial market and economy is increasing. Therefore, it is worthwhile for us to study digital currency. The contents of this paper include the evolution of money, the issuing technology for digital currency, transaction and value of cryptocurrency, NFT, the impact on financial market and economy of digital currency, and risk and regulation of digital currency. The conclusions of our research are as follows: Digital currency will play an important role in the financial market; there are some security concerns for the issuance and trading technology of digital currency; cryptocurrency exchanges are booming; price of cryptocurrency is affected by many factors and volatile; value of NFT is controversial; price of NFT is driven by celebrities and cryptocurrency market; stablecoin could be a hedging instrument in financial market; development of cryptocurrency will affect banking operation; there are some privacy concerns for the issuance of CBDC; regulations of cryptocurrency in many countries focus on anti-money laundering and countering the financing of terrorism; and the transactions of cryptocurrency and stablecoin are required to pay income tax and business tax in most countries. Based on conclusions, we have the following policy suggestions: First, information disclosure, consumer protection, and technological security should be considered for the regulation policy of digital currency. Second, cryptocurrency and stablecoin should not be used as payment instruments. Third, government should protect consumer privacy while issuing CBDC.