The legal regulatory model of virtual currency circulation: A socio-legal study

The article examines a model of legal circulation of virtual currency. The issue of the legal nature of virtual currencies remains controversial. This generates a problem of choosing the most suitable and effective approach to regulation of virtual currencies circulation. The article analyzes approa...

Full description

Autores:
Artemov, Nikolay
Arzumanova, Lana
Sitnik, Alexander
Smirnikova, Yulia
Zenin, Sergey
Tipo de recurso:
Article of journal
Fecha de publicación:
2020
Institución:
Corporación Universidad de la Costa
Repositorio:
REDICUC - Repositorio CUC
Idioma:
eng
OAI Identifier:
oai:repositorio.cuc.edu.co:11323/7031
Acceso en línea:
https://hdl.handle.net/11323/7031
https://doi.org/10.17981/juridcuc.16.1.2020.05
https://repositorio.cuc.edu.co/
Palabra clave:
Agentes de comercio
Instrumentos financieros
Moneda virtual
Regulación legal
Legal regulation
Brokers
Consumers
Financial instruments
Virtual currency
Rights
openAccess
License
CC0 1.0 Universal
id RCUC2_2c8dce0fb38ca2b2251cdea0dc0c0ddc
oai_identifier_str oai:repositorio.cuc.edu.co:11323/7031
network_acronym_str RCUC2
network_name_str REDICUC - Repositorio CUC
repository_id_str
dc.title.spa.fl_str_mv The legal regulatory model of virtual currency circulation: A socio-legal study
dc.title.translated.spa.fl_str_mv El modelo de regulación legal de la circulación de monedas virtuales: La investigación sociológica y legal
title The legal regulatory model of virtual currency circulation: A socio-legal study
spellingShingle The legal regulatory model of virtual currency circulation: A socio-legal study
Agentes de comercio
Instrumentos financieros
Moneda virtual
Regulación legal
Legal regulation
Brokers
Consumers
Financial instruments
Virtual currency
title_short The legal regulatory model of virtual currency circulation: A socio-legal study
title_full The legal regulatory model of virtual currency circulation: A socio-legal study
title_fullStr The legal regulatory model of virtual currency circulation: A socio-legal study
title_full_unstemmed The legal regulatory model of virtual currency circulation: A socio-legal study
title_sort The legal regulatory model of virtual currency circulation: A socio-legal study
dc.creator.fl_str_mv Artemov, Nikolay
Arzumanova, Lana
Sitnik, Alexander
Smirnikova, Yulia
Zenin, Sergey
dc.contributor.author.spa.fl_str_mv Artemov, Nikolay
Arzumanova, Lana
Sitnik, Alexander
Smirnikova, Yulia
Zenin, Sergey
dc.subject.proposal.spa.fl_str_mv Agentes de comercio
Instrumentos financieros
Moneda virtual
Regulación legal
Legal regulation
topic Agentes de comercio
Instrumentos financieros
Moneda virtual
Regulación legal
Legal regulation
Brokers
Consumers
Financial instruments
Virtual currency
dc.subject.proposal.eng.fl_str_mv Brokers
Consumers
Financial instruments
Virtual currency
description The article examines a model of legal circulation of virtual currency. The issue of the legal nature of virtual currencies remains controversial. This generates a problem of choosing the most suitable and effective approach to regulation of virtual currencies circulation. The article analyzes approaches to determining the legal nature of cryptocurrencies and the experience of state regulation in Switzerland, Japan, the USA and China. Methods of legal analysis, synthesis, specific scientific methods, and social research survey have been employed in this article. As a result of the conducted socio-legal study, it has been found that there is no unified strategy of legal regulation of virtual currencies, which affects their perception by recipients. This conclusion is based on the comparative analysis of legal regulation of cryptocurrencies circulation in such countries as Japan, the USA, and Switzerland. By contrast with these countries, China has significantly restricted usage of cryptocurrencies, actually having chosen the way of banning vir-tual currencies. The inconsistency of legal regulation can be observed not only between different countries, but also within one state, which is proved by the situa-tion in the USA and Switzerland. At the present time, the system of government regulation of cryptocurrencies circulation is the most effective in Japan.
publishDate 2020
dc.date.accessioned.none.fl_str_mv 2020-08-27T17:23:29Z
dc.date.available.none.fl_str_mv 2020-08-27T17:23:29Z
dc.date.issued.none.fl_str_mv 2020-02-28
dc.type.spa.fl_str_mv Artículo de revista
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.coar.spa.fl_str_mv http://purl.org/coar/resource_type/c_6501
dc.type.content.spa.fl_str_mv Text
dc.type.driver.spa.fl_str_mv info:eu-repo/semantics/article
dc.type.redcol.spa.fl_str_mv http://purl.org/redcol/resource_type/ART
dc.type.version.spa.fl_str_mv info:eu-repo/semantics/acceptedVersion
format http://purl.org/coar/resource_type/c_6501
status_str acceptedVersion
dc.identifier.citation.spa.fl_str_mv Artemov , N., Arzumanova, L., Sitnik, A., Smirnikova, Y & Zenin, S (2020). El modelo de regulación legal de la circulación de monedas virtuales: La investigación sociológica y legal. JURÍDICAS CUC, 16(1). 127–144. DOI: http://dx.doi.org/10.17981/juridcuc.16.1.2020.05
dc.identifier.uri.spa.fl_str_mv https://hdl.handle.net/11323/7031
dc.identifier.url.spa.fl_str_mv https://doi.org/10.17981/juridcuc.16.1.2020.05
dc.identifier.doi.spa.fl_str_mv 10.17981/juridcuc.16.1.2020.05
dc.identifier.eissn.spa.fl_str_mv 2389-7716
dc.identifier.instname.spa.fl_str_mv Corporación Universidad de la Costa
dc.identifier.pissn.spa.fl_str_mv 1692-3030
dc.identifier.reponame.spa.fl_str_mv REDICUC - Repositorio CUC
dc.identifier.repourl.spa.fl_str_mv https://repositorio.cuc.edu.co/
identifier_str_mv Artemov , N., Arzumanova, L., Sitnik, A., Smirnikova, Y & Zenin, S (2020). El modelo de regulación legal de la circulación de monedas virtuales: La investigación sociológica y legal. JURÍDICAS CUC, 16(1). 127–144. DOI: http://dx.doi.org/10.17981/juridcuc.16.1.2020.05
10.17981/juridcuc.16.1.2020.05
2389-7716
Corporación Universidad de la Costa
1692-3030
REDICUC - Repositorio CUC
url https://hdl.handle.net/11323/7031
https://doi.org/10.17981/juridcuc.16.1.2020.05
https://repositorio.cuc.edu.co/
dc.language.iso.none.fl_str_mv eng
language eng
dc.relation.ispartofseries.spa.fl_str_mv JURÍDICAS CUC; Vol. 16, Núm. 1 (2020)
dc.relation.ispartofjournal.spa.fl_str_mv JURÍDICAS CUC
JURÍDICAS CUC
dc.relation.references.spa.fl_str_mv Abramowicz, M. B. (2015). Cryptocurrency-Based Law. [GWU Law School Public Law Research Paper 2015-9]. Washington, DC: GWU. http://dx.doi.org/10.2139/ssrn.2573788
Dwyer, G. P. (2015). The economics of Bitcoin and similar private digital currencies. Journal of Financial Stability, 17, 81– 91. http://dx.doi.org/10.2139/ssrn.2434628
ElBahrawy, A., Alessandretti, L., Kandler, A., Pastor-Satorras, R. and Baronchelli, A. (2017). Evolutionary dynamics of the cryptocurrency market. Royal Society Open Science, 4(11), 170623. http://dx.doi.org/10.2139/ssrn.2969708
Eyal, I. (2017). Blockchain Technology: Transforming Libertarian Cryptocurrency Dreams to Finance and Banking Realities. Computer, 50(9), 38–49. http://dx.doi.org/10.1109/ MC.2017.3571042
Guadamuz, A. and Marsden, C. T. (2015). Blockchains and Bitcoin: Regulatory Responses to Cryptocurrencies. First Monday, 20(12). https://doi.org/10.5210/fm.v20i12.6198
Hayes, A. S. (2017). Cryptocurrency value formation: An empirical study leading to a cost of production model for valuing bitcoin. Telematics and Informatics, 34(7), 1308–1321. http:// dx.doi.org/10.1016/j.tele.2016.05.005
Herrera-Joancomartí, J. (2015). Research and Challenges on Bitcoin Anonymity. In: J. Garcia-Alfaro, J. Herrera-Joancomartí, E. Lupu, J. Posegga, A. Aldini, F. Martinelli and N. Suri (eds), Data Privacy Management, Autonomous Spontaneous Security, and Security Assurance. DPM 2014, QASA 2014, SETOP 2014, Wroclaw, Poland. https://doi.org/10.1007/978-3- 319-17016-9_1
Kirillova, E. A., Pavlyuk, A. V., Zulfugarzade, T. and Mikhailova I. A. (2018). Bitcoin, lifecoin, namecoin: the legal nature of virtual currency. Journal of Advanced Research in Law and Economics, 9(1), 119–126. https://doi.org/10.14505//jarle.v9.1(31).16
Liu, Q. and Li, K. (2018). Decentration Transaction Method Based on Blockchain Technology. Intelligent Transportation Big Data & Smart City, 2018 ICITBS, Xiamen, China. https:// doi.org/10.1109/ICITBS.2018.00111
Monetary Authority of Singapore (MAS). (June 24, 2009). Payment Services Act no. 54 [PS Act 54]. Retrieved from: https:// www.e-gov.go.jp/sorry.html
Peck, M. E. (2017). Blockchains: How they work and why they’ll change the world. IEEE Spectrum, 54(10), 26–35. https://doi. org/10.1109/MSPEC.2017.8048836
Treleaven, R., Brown, G. and Yang, D. (2017). Blockchain Technology in Finance. Computer, 50(9), 14–17. https://doi.org/10.1109/ MC.2017.3571047
Ujiie, J. (ed.). (2002). Japanese Financial Markets. Cambridge: Wood- head publishing.
Wright, A. and De Filippi, P. (2015). Decentralized Blockchain Technology and the Rise of Lex Cryptographia. SSRN. http:// dx.doi.org/10.2139/ssrn.2580664
Schweizerischen Eidgenossenschaft. (22. Dezember 1999). Bundes- verfassung der Schweizerischen Eidgenossenschaft. [WZG].
Yli-Huumo, J., Ko, D., Choi, S., Park, S. and Smolander, K. (2016). Where Is Current Research on Blockchain Technology? A Systematic Review. PLoS ONE, 11(10), e0163477. https://doi. org/10.1371/journal.pone.0163477
Zheng, Z., Xie, S., Dai, H.-N., Chen, X. and Wang, H. (2018). Block- chain challenges and opportunities: a survey. International Journal of Web and Grid Services (IJWGS), 14(4), 352–375. https://doi.org/10.1504/IJWGS.2018.10016848
dc.relation.citationendpage.spa.fl_str_mv 144
dc.relation.citationstartpage.spa.fl_str_mv 127
dc.relation.citationissue.spa.fl_str_mv 1
dc.relation.citationvolume.spa.fl_str_mv 16
dc.relation.ispartofjournalabbrev.spa.fl_str_mv Jurídicas
dc.rights.spa.fl_str_mv CC0 1.0 Universal
dc.rights.uri.spa.fl_str_mv http://creativecommons.org/publicdomain/zero/1.0/
dc.rights.accessrights.spa.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.coar.spa.fl_str_mv http://purl.org/coar/access_right/c_abf2
rights_invalid_str_mv CC0 1.0 Universal
http://creativecommons.org/publicdomain/zero/1.0/
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.extent.spa.fl_str_mv 18 páginas
dc.format.mimetype.spa.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv Corporación Universidad de la Costa
dc.source.spa.fl_str_mv JURÍDICAS CUC
institution Corporación Universidad de la Costa
dc.source.url.spa.fl_str_mv https://revistascientificas.cuc.edu.co/juridicascuc/article/view/2785
bitstream.url.fl_str_mv https://repositorio.cuc.edu.co/bitstream/11323/7031/1/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf
https://repositorio.cuc.edu.co/bitstream/11323/7031/2/license_rdf
https://repositorio.cuc.edu.co/bitstream/11323/7031/3/license.txt
https://repositorio.cuc.edu.co/bitstream/11323/7031/4/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf.jpg
https://repositorio.cuc.edu.co/bitstream/11323/7031/5/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf.txt
bitstream.checksum.fl_str_mv 390231f2bb76c99d142c47b9f47aded7
42fd4ad1e89814f5e4a476b409eb708c
e30e9215131d99561d40d6b0abbe9bad
1b18b2da5b4dce2c963260c7d455c76c
0b2af082c97514a87dc45ff5a2616d3a
bitstream.checksumAlgorithm.fl_str_mv MD5
MD5
MD5
MD5
MD5
repository.name.fl_str_mv Repositorio Universidad de La Costa
repository.mail.fl_str_mv bdigital@metabiblioteca.com
_version_ 1808400260799660032
spelling Artemov, Nikolay1862c8372bb9329bb4ac9fdfda3e809eArzumanova, Lana568666724cfe529250154824369a2900Sitnik, Alexander666ec1559b09f01ee4a5de70c12f1698Smirnikova, Yulia99c20d587778f2cf2fc3b86d74cd6d37Zenin, Sergey5520e32f06bbcd510f1310b2cc096f342020-08-27T17:23:29Z2020-08-27T17:23:29Z2020-02-28Artemov , N., Arzumanova, L., Sitnik, A., Smirnikova, Y & Zenin, S (2020). El modelo de regulación legal de la circulación de monedas virtuales: La investigación sociológica y legal. JURÍDICAS CUC, 16(1). 127–144. DOI: http://dx.doi.org/10.17981/juridcuc.16.1.2020.05https://hdl.handle.net/11323/7031https://doi.org/10.17981/juridcuc.16.1.2020.0510.17981/juridcuc.16.1.2020.052389-7716Corporación Universidad de la Costa1692-3030REDICUC - Repositorio CUChttps://repositorio.cuc.edu.co/The article examines a model of legal circulation of virtual currency. The issue of the legal nature of virtual currencies remains controversial. This generates a problem of choosing the most suitable and effective approach to regulation of virtual currencies circulation. The article analyzes approaches to determining the legal nature of cryptocurrencies and the experience of state regulation in Switzerland, Japan, the USA and China. Methods of legal analysis, synthesis, specific scientific methods, and social research survey have been employed in this article. As a result of the conducted socio-legal study, it has been found that there is no unified strategy of legal regulation of virtual currencies, which affects their perception by recipients. This conclusion is based on the comparative analysis of legal regulation of cryptocurrencies circulation in such countries as Japan, the USA, and Switzerland. By contrast with these countries, China has significantly restricted usage of cryptocurrencies, actually having chosen the way of banning vir-tual currencies. The inconsistency of legal regulation can be observed not only between different countries, but also within one state, which is proved by the situa-tion in the USA and Switzerland. At the present time, the system of government regulation of cryptocurrencies circulation is the most effective in Japan.El artículo considera el modelo de circulación legal de monedas virtuales. El problema de la naturaleza legal de las monedas virtuales sigue siendo discutible. Todo esto causa el problema de elegir el enfoque más óptimo y efectivo para regular la circulación de monedas virtuales. El artículo analiza diferentes enfoques para determinar la naturaleza legal de las criptomonedas y la experiencia de la regulación estatal en Suiza, Japón, Estados Unidos y China. En el artículo se utilizan los métodos de análisis legal, síntesis, especiales y científicos y el método de investigación sociológica. Como resultado de la investigación sociológica y legal, se hizo evidente la ausencia de una estrategia unida para la regulación le-gal de las monedas virtuales, lo que afecta su percepción por los encuestados. La conclusión se basa en un análisis comparativo de la regulación legal de la circulación de criptomonedas en estados como Japón, Estados Unidos y Suiza. A diferencia de estos países, China ha limitado significativamente el uso de criptomonedas, de hecho, eligió prohibir las monedas virtuales. La fragmentación de la regulación legal existe no solo a nivel de varios estados, sino dentro de un estado. Esto se confirma por la experiencia de los Estados Unidos y Suiza. Actualmente, el sistema de regulación nacional de la circulación de criptomonedas es más efectivo en Japón.18 páginasapplication/pdfengCorporación Universidad de la CostaJURÍDICAS CUC; Vol. 16, Núm. 1 (2020)JURÍDICAS CUCJURÍDICAS CUCAbramowicz, M. B. (2015). Cryptocurrency-Based Law. [GWU Law School Public Law Research Paper 2015-9]. Washington, DC: GWU. http://dx.doi.org/10.2139/ssrn.2573788Dwyer, G. P. (2015). The economics of Bitcoin and similar private digital currencies. Journal of Financial Stability, 17, 81– 91. http://dx.doi.org/10.2139/ssrn.2434628ElBahrawy, A., Alessandretti, L., Kandler, A., Pastor-Satorras, R. and Baronchelli, A. (2017). Evolutionary dynamics of the cryptocurrency market. Royal Society Open Science, 4(11), 170623. http://dx.doi.org/10.2139/ssrn.2969708Eyal, I. (2017). Blockchain Technology: Transforming Libertarian Cryptocurrency Dreams to Finance and Banking Realities. Computer, 50(9), 38–49. http://dx.doi.org/10.1109/ MC.2017.3571042Guadamuz, A. and Marsden, C. T. (2015). Blockchains and Bitcoin: Regulatory Responses to Cryptocurrencies. First Monday, 20(12). https://doi.org/10.5210/fm.v20i12.6198Hayes, A. S. (2017). Cryptocurrency value formation: An empirical study leading to a cost of production model for valuing bitcoin. Telematics and Informatics, 34(7), 1308–1321. http:// dx.doi.org/10.1016/j.tele.2016.05.005Herrera-Joancomartí, J. (2015). Research and Challenges on Bitcoin Anonymity. In: J. Garcia-Alfaro, J. Herrera-Joancomartí, E. Lupu, J. Posegga, A. Aldini, F. Martinelli and N. Suri (eds), Data Privacy Management, Autonomous Spontaneous Security, and Security Assurance. DPM 2014, QASA 2014, SETOP 2014, Wroclaw, Poland. https://doi.org/10.1007/978-3- 319-17016-9_1Kirillova, E. A., Pavlyuk, A. V., Zulfugarzade, T. and Mikhailova I. A. (2018). Bitcoin, lifecoin, namecoin: the legal nature of virtual currency. Journal of Advanced Research in Law and Economics, 9(1), 119–126. https://doi.org/10.14505//jarle.v9.1(31).16Liu, Q. and Li, K. (2018). Decentration Transaction Method Based on Blockchain Technology. Intelligent Transportation Big Data & Smart City, 2018 ICITBS, Xiamen, China. https:// doi.org/10.1109/ICITBS.2018.00111Monetary Authority of Singapore (MAS). (June 24, 2009). Payment Services Act no. 54 [PS Act 54]. Retrieved from: https:// www.e-gov.go.jp/sorry.htmlPeck, M. E. (2017). Blockchains: How they work and why they’ll change the world. IEEE Spectrum, 54(10), 26–35. https://doi. org/10.1109/MSPEC.2017.8048836Treleaven, R., Brown, G. and Yang, D. (2017). Blockchain Technology in Finance. Computer, 50(9), 14–17. https://doi.org/10.1109/ MC.2017.3571047Ujiie, J. (ed.). (2002). Japanese Financial Markets. Cambridge: Wood- head publishing.Wright, A. and De Filippi, P. (2015). Decentralized Blockchain Technology and the Rise of Lex Cryptographia. SSRN. http:// dx.doi.org/10.2139/ssrn.2580664Schweizerischen Eidgenossenschaft. (22. Dezember 1999). Bundes- verfassung der Schweizerischen Eidgenossenschaft. [WZG].Yli-Huumo, J., Ko, D., Choi, S., Park, S. and Smolander, K. (2016). Where Is Current Research on Blockchain Technology? A Systematic Review. PLoS ONE, 11(10), e0163477. https://doi. org/10.1371/journal.pone.0163477Zheng, Z., Xie, S., Dai, H.-N., Chen, X. and Wang, H. (2018). Block- chain challenges and opportunities: a survey. International Journal of Web and Grid Services (IJWGS), 14(4), 352–375. https://doi.org/10.1504/IJWGS.2018.10016848144127116JurídicasCC0 1.0 Universalhttp://creativecommons.org/publicdomain/zero/1.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2JURÍDICAS CUChttps://revistascientificas.cuc.edu.co/juridicascuc/article/view/2785The legal regulatory model of virtual currency circulation: A socio-legal studyEl modelo de regulación legal de la circulación de monedas virtuales: La investigación sociológica y legalArtículo de revistahttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/acceptedVersionAgentes de comercioInstrumentos financierosMoneda virtualRegulación legalLegal regulationBrokersConsumersFinancial instrumentsVirtual currencyORIGINALEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdfEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdfapplication/pdf484428https://repositorio.cuc.edu.co/bitstream/11323/7031/1/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf390231f2bb76c99d142c47b9f47aded7MD51open accessCC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-8701https://repositorio.cuc.edu.co/bitstream/11323/7031/2/license_rdf42fd4ad1e89814f5e4a476b409eb708cMD52open accessLICENSElicense.txtlicense.txttext/plain; charset=utf-83196https://repositorio.cuc.edu.co/bitstream/11323/7031/3/license.txte30e9215131d99561d40d6b0abbe9badMD53open accessTHUMBNAILEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdf.jpgEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdf.jpgimage/jpeg64477https://repositorio.cuc.edu.co/bitstream/11323/7031/4/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf.jpg1b18b2da5b4dce2c963260c7d455c76cMD54open accessTEXTEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdf.txtEl modelo de regulación legal de la circulación de monedas virtuales La investigación sociológica y legal.pdf.txttext/plain40028https://repositorio.cuc.edu.co/bitstream/11323/7031/5/El%20modelo%20de%20regulaci%c3%b3n%20legal%20de%20la%20circulaci%c3%b3n%20de%20monedas%20virtuales%20La%20investigaci%c3%b3n%20sociol%c3%b3gica%20y%20legal.pdf.txt0b2af082c97514a87dc45ff5a2616d3aMD55open access11323/7031oai:repositorio.cuc.edu.co:11323/70312023-12-14 17:46:54.326CC0 1.0 Universal|||http://creativecommons.org/publicdomain/zero/1.0/open accessRepositorio Universidad de La Costabdigital@metabiblioteca.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