Challenges of Legal Regulation Regarding Cryptocurrencies
Challenges of Legal Regulation Regarding Cryptocurrencies

Author(s): Costin Răzvan Chiriță
Subject(s): Law on Economics, ICT Information and Communications Technologies, Socio-Economic Research, Sociology of Law
Published by: ADJURIS – International Academic Publisher
Keywords: cryptocurrency; regulation; Romania; European Union; MiCA;
Summary/Abstract: Being one of the essential cells of society, law adapts to the rhythm in which the economic, social, and political environment evolves. Through the lens of technological advances, new challenges arise for states and practitioners in regulating and understanding the mechanisms applicable to new technologies. It is undeniable that one of the biggest challenges is generated by cryptocurrencies, their mode of operation, their legal qualification, regulation, and transmission from a legal perspective. From this consideration, we consider it useful to look for the answers to the identified problems and, where appropriate, to analyze the solutions required for the regulation of this field so that we can ensure a legal framework that meets practical needs. Starting from these premises, we will analyze the way in which European legislation and Romanian legislation respond to the challenges both from the point of view of legislation and by analyzing the way in which it relates to the issue of civil capacity, identification of persons by ensuring a legal framework that subsumes the existing legal system.

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