Abstract: Encrypted digital currency, which runs on the blockchain, has a variety of interactions with social economy because of its technical characteristics, and the value of the transaction object and means of payment is affected by technology. The technical security and stability of the system need to be regulated and protected by rules. However, the purpose of the regulation of digital currency is not to maintain the technical and economic functions.As a result of the common understanding of blockchain as a currency, it should assess its social consensus as a public product by supervision, and concurrently agree that it must serve as a link of macroeconomic policy tools to serve the allocation of monetary incentives to economic entities and statutory obligations.The attitude of the central bank to the encryption of digital currency also depends on the effectiveness of the central bank's regulation and control of monetary policy tools. Based on the cognition of technology, economy and political functions, various countries adopt different regulatory models for encrypted digital currency, but they also embody a similar regulation trend.In the cooperation mode, the administrative responsibility assumes the path of cooperative governance, and then carries out the logic of supervision system, which includes object inclusiveness, multiple means, and the exclusiveness of the capacity and responsibility.