Abstract: There are three main periods of regulating virtual currency in China. The first is to focus on the traditional virtual currency, regarding “whether the network virtual property belongs to the property of criminal law”. Secondly, studying on the convertible virtual currency, especially bitcoin. Besides, suspects may use bitcoin for illegal financing, illegal trading of foreign exchange etc. In order to prevent bitcoinrelated crime risks in advance, it is necessary to improve the regulatory measures and explain the related crimes in criminal law properly.

Key words: virtual currency, bitcoin, crime risk, criminal regulation

摘要： 我国对虚拟货币的规制分为三段时期：一是以传统的虚拟货币为主，研判“网络虚拟财产是否属于刑法意义上的财产”；二是针对可兑换型虚拟货币，将比特币认定为“特定的虚拟商品”，从而切断比特币与实体经济之间的联系；三是严格监管代币交易平台。囿于比特币涉有融资、外汇等领域的犯罪风险，有必要在前置法层面制定配套的风险控制体系，同时在现有法律框架下对刑法相关罪名作出合理解释，为比特币的刑事惩治提供入罪可能。

关键词: 虚拟货币, 比特币, 犯罪风险, 刑法规制