Legal Challenges in Regulating Cryptocurrency: A Comparative Analysis

Authors

  • Siti laelatul rodiah Universitas Esa Unggul
  • Sandra Yuli Trisnawati Universitas Esa Unggul

Keywords:

Cryptocurrency, Regulation, Law, Rules

Abstract

Cryptocurrency has emerged as a disruptive force in the financial sector, presenting new regulatory challenges. This article investigates the current legal landscape surrounding cryptocurrency, addressing issues such as tax compliance, fraud prevention, and investor protection. Through a comparative study, the paper evaluates different regulatory approaches and their effectiveness in achieving financial stability while fostering innovation. The findings offer insights into the balance required between regulation and the growth of digital currencies.

References

Bank for International Settlements (BIS). (2021). The future of money: Central bank digital currencies.

BBC. (2021). Bitconnect: The cryptocurrency scam that defrauded investors.

Chainalysis. (2021). The 2021 crypto crime report.

Deloitte. (2021). Global blockchain survey.

European Commission. (2020). Proposal for a regulation on markets in cryptoassets.

Federal Trade Commission (FTC). (2021). Report on cryptocurrency scams.

Financial Action Task Force (FATF). (2019). Guidance for a risk-based approach to virtual assets.

Financial Services Agency (FSA). (2021). Virtual currency exchange services.

HM Revenue and Customs (HMRC). (2021). Cryptoassets for individuals.

Internal Revenue Service (IRS). (2020). Virtual currency guidance.

International Organization of Securities Commissions (IOSCO). (2020). Research report on cryptoassets.

National Taxpayer Advocate. (2021). Annual report to Congress.

Securities and Exchange Commission (SEC). (2021). Framework for 'investment contract' analysis of digital assets.

Statista. (2021). Cryptocurrency market capitalization worldwide from 2013 to 2021.

World Bank. (2021). El Salvador's Bitcoin law: A new era?

Zohar, A. (2015). Bitcoin: Under the hood. Communications of the ACM.

Downloads

Published

2024-03-31

How to Cite

Siti laelatul rodiah, & Sandra Yuli Trisnawati. (2024). Legal Challenges in Regulating Cryptocurrency: A Comparative Analysis. Green Social: International Journal of Law and Civil Affairs, 1(1), 20–26. Retrieved from https://social.ifrel.org/index.php/GreenSocial/article/view/52