Two-Way Exchange of Virtual Currency: Future Tendency and Inherent Risks

摘要

There are two kinds of exchange mechanism between network virtual currency and legal currency: one-way and two-way exchange, but all network games in China choose the one-way exchange mechanism. This paper analyzes the reason why Chinese domestic game operators are not willing to provide two-way exchange service except supervising constraint. The cash flow and income of operators is more unstable in the two-way exchange mechanism than in the one-way exchange mechanism, and operators are more vulnerable to suffer liquidity crisis caused by external impact. But we think the consumerpsilas demand and market competition will eventually make two-way exchange become the future trends of virtual currency development, and the market survey results prove this. How to adapt to the future development trend of virtual currency, this paper puts forward some suggestions on keeping away liquidity risk for operators and supervision authorities in the end.