Abstract:  In recent years, the blockchain technology has been attracting increasing attention from public Although the technology is still in its infancy, there are a contradiction between the decentralization features of blockchain and the existing way of centralized legal regulation Foreign governments have begun to research the legal regulations of bitcoin and blockchain technology, and Chinese government has also gradually paid attention to the development of  blockchain industry Therefore, it is necessary to dissect the potential legal problems of different blockchain models such as public blockchain or private blockchain and the decentralization mechanism Besides the analysis, the regulatory systems of different development stages of blockchain in foreign countries are compared to discuss the reasonable blockchain legal supervision in China

Key words:  blockchain, legal risk, foreign regulation