Juridical challenges regarding bitcoin.

• Authors: Pirvu Adriana
• Languages of publication: EN

Abstracts

EN

Criptocurrencies are popular convertible virtual currencies, as they use security mechanisms such as cryptography for creating units of the currency and controlling the transaction. The main property of criptocurrencies is that they provide anonymity for the transaction, as they work based on Blockchain technology. Bitcoin is one of the most important criptocurrencies on the market. Whereas we like it or not, it seems that Bitcoin has become a powerful payment instrument, but also a payment system. The national Governments face now a new challenge: the necessity of regulating Bitcoin. But Bitcoin is incompatible with any kind of centralized control. We can only imagine that effective regulations can exist only through worldwide cooperation: “Bitcoin and other virtual currencies are present and growing in major economies, supporting the call for increased global cooperation”. This will be probably an expensive and complex process.

Keywords

EN

Bitcoin; regulations; challenges

• Publisher: Krakowska Akademia im. Andrzeja Frycza Modrzewskiego / Oficyna Wydawnicza AFM KAAFM
• Journal: Studia Prawnicze: rozprawy i materiały
• Year: 2020
• Issue: 1(26)
• Pages: 71-78

Contributors

author

Pirvu Adriana

• University of Piteşti, Romania

Identifiers

DOI

10.34697/2451-0807-sp-2020-1-005