@inbook{b663f231909147738d12780d47a7a166,
title = "Legal Challenges of Cryptocurrency",
abstract = "Cryptocurrencies are one type of digital currencies that have been widely used in recent times. The use of these currencies in commercial transactions raises many legal challenges. This study aims to address several challenges including determining the nature of the virtual currency, whether it is a subject of ownership and taxation, and the legal regulation of this currency. Moreover, using cryptocurrencies in money laundering and terrorism financing leads to difficulty in discovering these crimes. This article concludes that the legality and legal nature of cryptocurrencies are still controversial. Some legislation approves using cryptocurrencies as a means of payment without considering them as money. Some criminal legislation includes these currencies within the concept of money obtained from the primary crime. It also requires virtual asset service providers to combat money laundering and terrorist financing.",
keywords = "Blockchain, Cryptocurrency, Digital currency, Money Laundering, Virtual currency",
author = "AbdelAziz, {Gehad Mohamed} and Abdelrahman Shalaby",
note = "Publisher Copyright: {\textcopyright} 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.",
year = "2023",
doi = "10.1007/978-3-031-39158-3_83",
language = "English",
series = "Studies in Systems, Decision and Control",
publisher = "Springer Science and Business Media Deutschland GmbH",
pages = "890--898",
booktitle = "Studies in Systems, Decision and Control",
}