Legal Challenges of Cryptocurrency

Gehad Mohamed AbdelAziz, Abdelrahman Shalaby

Research output: Chapter in Book/Report/Conference proceedingChapter


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.

Original languageEnglish
Title of host publicationStudies in Systems, Decision and Control
PublisherSpringer Science and Business Media Deutschland GmbH
Number of pages9
Publication statusPublished - 2023

Publication series

NameStudies in Systems, Decision and Control
ISSN (Print)2198-4182
ISSN (Electronic)2198-4190


  • Blockchain
  • Cryptocurrency
  • Digital currency
  • Money Laundering
  • Virtual currency

ASJC Scopus subject areas

  • Computer Science (miscellaneous)
  • Control and Systems Engineering
  • Automotive Engineering
  • Social Sciences (miscellaneous)
  • Economics, Econometrics and Finance (miscellaneous)
  • Control and Optimization
  • Decision Sciences (miscellaneous)


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