DIGITAL JURISPRUDENCE: THE LEGAL FIELD OF CRYPTOCURRENCIES
Abstract
Digital jurisprudence as a branch of law that studies the legal aspects of digital technologies is facing unprecedented challenges in the era of rapid innovation. One of the most revolutionary innovations in the digital sphere has been the emergence of cryptocurrencies – decentralized digital assets that function based on blockchain technology. Bitcoin, as the first and most well-known cryptocurrency, has caused tremendous resonance since its launch in 2009 and sparked heated discussions about its legal nature and the need for regulation. Today, the cryptocurrency market continues to grow rapidly, attracting private investors large corporations, and even government agencies. However, despite the growing popularity, the legal status of digital assets remains uncertain in many jurisdictions. The diverse approaches to the regulation of cryptocurrencies in different countries, from complete prohibition to free circulation, create a complex and contradictory picture on a global level.
The uncertainty in digital jurisprudence regarding the status of cryptocurrencies carries numerous risks and challenges. On one hand, the absence of clear legal norms can contribute to the use of cryptocurrencies in illegal money laundering schemes or financing of terrorist organizations. On the other hand, excessive regulation can hinder the development of innovation and impede the realization of the potential of new technologies. At the same time, harmonization of norms at the international level is a complex task due to significant differences in the approaches of different countries.
In this article, we will examine topical issues of the legal regulation of cryptocurrencies through the lens of digital jurisprudence, analyze problems of determining their status, requirements for crypto exchanges and conducting ICOs, risks of using digital assets for illegal purposes, as well as prospects for the development of regulation in this area.
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