Assessing the Differences in Bitcoin & Other Cryptocurrency Legality Across National Jurisdictions

Abstract

The growth of cryptocurrencies has been met with a variety of regulatory and legislative responses across national jurisdictions, with some signaling approval of the general transactional and functional aspects of cryptocurrencies, while others responding with legislative prohibitions or restrictions. This diversity of legislative response signals on one hand the perplexity of authorities as to the full possibilities of cryptocurrencies, and on the other hand a realization of the inadequate oversight and governance role those authorities would have in the disintermediated nature of cryptocurrency transactions. This discussion paper assesses the differences in Bitcoin and other cryptocurrency legality across national jurisdictions.

Keywords: Bitcoin, Cryptocurrency, Digital, Regulation, Blockchain