Considerations for and Comparison of Bitcoin Regulations

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GRIN Verlag

Código:

491_9783668695450

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Essay from the year 2016 in the subject Economics - Monetary theory and policy, grade: -, , language: English, abstract: This essay analyses the considerations relating to Bitcoin as a modern way of conducting transactions. It addresses three different areas: technical, ethical and legal. These were chosen because they all impact what the regulation needs to cover. Without looking at each of these, an optimal solution would not be possible.It compares multiple countries approach to regulating or not regulating Bitcoin. Each country has its own reasons for deciding their preferences about Bitcoin. Some say that it should be regulated while others have banned Bitcoin. Some countries have been more neutral and allow its use but do not consider it as legal tender.The research question is Considering technical, ethical and legal factors, which global regulatory approach to Bitcoin is optimal for the future? After analyzing the considerations and comparing the different approaches, it was found that the best method would be to regulate Bitcoin as a legal currency including regulating it using the measures outlined in this essay.

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