The Legal Classification of Bitcoin and other Cryptocurrencies

Abstract

Cryptocurrencies are digital assets desig ned to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. In the past few years there is a growing number of cryptocurrencies like Bitcoin, Ethereum, Ripple, etc. In my paper and presentation I would like to present the difficulties of the legal classification of cryptocurrencies. Countries all over the world have different solutions to this question. It is not written in stone whether cryptocurrencies should be considered a currency, a commodity, or an investment. In my study I examine each of these possibilities.