COMPARATIVE REVIEW OF REGULATORY FRAMEWORK OF VIRTUAL CURRENCY (CRYPTOCURRENCY) IN SELECTED COUNTRIES

Marcin Kasprzyk

Ph.D candidate, I Department of Civil Law, Faculty of Law, Canon Law, and Administration at the John Paul II Catholic University of Lublin , Poland
https://orcid.org/0000-0001-7314-2948


Abstract

In the era of rapid technological progress, the legislators of individual countries face the challenge of submitting new technological phenomena to the legal framework. The business operation in the field of virtual currencies (cryptocurrencies),
widely, in the financial technology sector (hereinafter referred to in as “fintech”), create a chance to attract investors and develop the economy. On the other hand, the same might be misused for illegal purposes, such as, in particular,
money laundering or financing of terrorism. This study provides for an overview of the legal regulations of selected states in the field of virtual currencies (cryptocurrencies). Although, presented laws and regulations herein are in favour of the
cryptocurrencies, the scope of implemented acts varies significantly.

Keywords:

virtual currency, cryptocurrency, distributed ledger technology, regulatory framework

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Published
2018-12-31


Kasprzyk, M. (2018). COMPARATIVE REVIEW OF REGULATORY FRAMEWORK OF VIRTUAL CURRENCY (CRYPTOCURRENCY) IN SELECTED COUNTRIES. Review of European and Comparative Law, 35(4), 7–26. https://doi.org/10.31743/recl.4807

Marcin Kasprzyk 
Ph.D candidate, I Department of Civil Law, Faculty of Law, Canon Law, and Administration at the John Paul II Catholic University of Lublin https://orcid.org/0000-0001-7314-2948