Illegal Roads Leading to Legal Ends: Bitcoin Mining in Malaysia

IF 0.3 4区社会学 Q4 HEALTH POLICY & SERVICES

Asian Journal of Wto & International Health Law and Policy Pub Date : 2022-01-31 DOI:10.33093/ajlp.2022.1

Hiral Sanghvi, Donald Selvam, Jovine See Wey Ling

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Abstract

A decade ago, no one would have envisioned that Bitcoin would be as lucrative as it is today. What many first thought of as a scam, has now turned out to be one of the fastest growing digital currency in the world. This paper attempts to explain the legal framework and implications of Bitcoin mining, mostly in Malaysia, while also citing examples of other nations. The research attempts to shed light on how mining actually becomes illegal, despite not being directly penalized under most laws. The second part of the paper aims to critically analyse the solutions and reforms that can be put into motion in order to further facilitate the growth of Bitcoin in Malaysia. While some nations have started amending existing laws and promulgating new laws to address the rapid growth of Bitcoin, most countries still have no clear guidelines outlining Bitcoin mining and the Bitcoin trade in general. This paper also attempts to shed light on how the Bitcoin mining process can be made more environmentally friendly, so as to benefit both miners as well as the public at large.

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非法的道路通向合法的终点:马来西亚的比特币开采

十年前，没有人会想到比特币会像今天这样有利可图。许多人最初认为是骗局的比特币，现在已经成为世界上增长最快的数字货币之一。本文试图解释比特币挖矿的法律框架和影响，主要是在马来西亚，同时也引用了其他国家的例子。这项研究试图揭示采矿实际上是如何成为非法的，尽管大多数法律都没有直接惩罚采矿。本文的第二部分旨在批判性地分析可以付诸实施的解决方案和改革，以进一步促进比特币在马来西亚的发展。虽然一些国家已经开始修改现有法律，并颁布新的法律来应对比特币的快速增长，但大多数国家仍然没有明确的指导方针来概述比特币开采和比特币交易的总体情况。本文还试图阐明如何使比特币挖矿过程更加环保，从而使矿工和公众都受益。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asian Journal of Wto & International Health Law and Policy Multiple-

CiteScore

0.90

自引率

20.00%

发文量

期刊介绍： After Taiwan became the 144th Member of the WTO on January 1 2002 and recognizing the importance of WTO research, the WTO Research Center was established at the NTU College of Law in January, 2003 in order to conduct the research on WTO matters more efficiently. The WTO Research Center was transformed into the Asian Center for WTO & International Health Law and Policy (hereinafter ACWH or the Center) in December, 2005 to reflect the broad research scope of the Center. The original focus of the center was only on international trade law. Now it covers three major fields of research and training interests, namely international economic law (mainly WTO and investment), international health law (including the Framework Convention on Tobacco Control and the International Health Regulations), and international arbitration (including commercial and investor-State arbitrations). ACWH is designed to closely monitor the development of WTO rules, conduct in-depth research on the effect of the WTO rules on Taiwan’s economy, and put forth policy proposals.