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University of South Florida M3 Center Publishing

Abstract

The purpose of this article is to analyze the difficulties associated with the lack of regulations in cryptocurrencies. Indeed, the absence of a uniform and international common regulation brings many legal conflicts. This lack of legal framework partly slows down the development of cryptocurrencies. Investors who wish to invest in this type of currency or asset are often discouraged due to the lack of legal framework. In order to highlight the difficulties caused by the lack of regulation, this paper proposes to analyze the different approaches and the beginning of a legal text developed by certain countries to respond to these difficulties. Cryptocurrencies, although they have their own strengths, are trying to integrate into the classic monetary system. Cryptocurrencies are the fruit and results of a new technology that has been developing at high speed since 2010. However, there are many obstacles to the development of the blockchain ecosystem. Many countries do not want to miss the blockchain revolution but remain skeptical in its applications and dissemination. Beyond cryptocurrencies, creating a legal environment favorable to the development of this new technology will allow the distribution of crypto-assets which are a fundamental economic stake for countries wishing to perpetuate their financial attractiveness.

DOI

https://www.doi.org/10.5038/9781955833035

Recommended Citation

Ozturk, L., & Sulungur, E. (2021). The regulation problem of cryptocurrencies. In C. Cobanoglu, & V. Della Corte (Eds.), Advances in global services and retail management (pp. 1–12). USF M3 Publishing. https://www.doi.org/10.5038/9781955833035

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License

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