Bitcoin and Its Related Legal Effects

Ebrahim Soleimani, Khodadad KhodadadiDashtaki


Digital currencies are currencies that use encryption to transmit over the Internet, encrypted digital currencies are untraceable and track able. Cryptography was first used in World War II to convey messages and military commands. In the digital age, mathematics and computer science have been used to secure communications, information and money transfers. Bitcoin's first digital currency was created in year 6 and is now the king of the world of digital currencies. Many digital currencies have been introduced and introduced in the past few years. Currently, about 2 digital currencies are traded in global markets. Digital currencies operate on a platform called Block China and are the first and most famous Bitcoin digital currency. The inventors and creators of China Block and Bitcoin are anonymous, and there is no other specification than their name. Many countries have no problem with China's block chain because it is a secure platform like the Internet, which is even safer in terms of financial transaction security than the Internet, and many financial institutions and countries are planning to use it. But bitcoin is controversial because it has introduced itself as a currency. Many countries have refused to accept it. If countries use and promote it, it will cause a devaluation of the national currency and cause losses. However, in today's world, it has been proven that you cannot stand up to new technologies but have to take them on. Some of the leading countries are drafting legislation to use digital currencies.

Full Text:

PDF 44-47


Anderson, Ross. (2018). Making Bitcoin Legal (Transcript of Discussion). Paper presented at the Cambridge International Workshop on Security Protocols.

Egorova, Elena N, Mukhomorova, Irina V, & Mosalev, Anton I. (2018). Digital Currency in the Development of Payment Systems on the Bitcoin Platform. Paper presented at the International Conference Project “The future of the Global Financial System: Downfall of Harmonyâ€.

Ju, Lan, Lu, Timothy, & Tu, Zhiyong. (2016). Capital flight and bitcoin regulation. International Review of Finance, 16(3), 445-455.

Kaplanov, Nikolei. (2012). Nerdy money: Bitcoin, the private digital currency, and the case against its regulation. Loy. Consumer L. Rev., 25, 111.

Lischke, Matthias, & Fabian, Benjamin. (2016). Analyzing the bitcoin network: The first four years. Future Internet, 8(1), 7.

Madan, Isaac, Saluja, Shaurya, & Zhao, Aojia. (2015). Automated bitcoin trading via machine learning algorithms. URL: http://cs229. stanford. edu/proj2014/Isaac% 20Madan, 20.

Mandjee, Tara. (2015). Bitcoin, its legal classification and its regulatory framework. Journal of Business & Securities Law, 15(2), 157.

Murphy, Edward V, Murphy, M Maureen, & Seitzinger, Michael V. (2015). Bitcoin: Questions, answers, and analysis of legal issues.

Tsukerman, Misha. (2015). The block is hot: A survey of the state of Bitcoin regulation and suggestions for the future. Berkeley Technology Law Journal, 30(4), 1127-1170.

Tu, Kevin V, & Meredith, Michael W. (2015). Rethinking virtual currency regulation in the Bitcoin age. Wash. L. Rev., 90, 271.

Vassiliadis, Savvas, Papadopoulos, Perikles, Rangoussi, Maria, Konieczny, Tomasz, & Gralewski, Jacek. (2017). Bitcoin value analysis based on cross-correlations. Journal of Internet Banking and Commerce, 22(S7), 1.


  • There are currently no refbacks.

World of Researches Publication