The necessity of international regulation of blockchain and crypto assets

Document Type : Original Article

Authors

1 Ph.D. Candidate of International Commercial Law, Shahid Beheshti University

2 (Associate Professor of Law, Shahid Behshti University

10.52547/jlr.2022.228769.2324

Abstract

The Necessity of International Regulation of Blockchain and Crypto Assets
Hadi VAHID (Associate Professor of Law, Shahid Behshti University)
Behrad SAGHIRI (Ph.D. Candidate of International Commercial Law, Shahid Beheshti University)
Abstract
The footprint of block chain and all types of crypto assets is evident in various sectors of the economy and international commerce. This various role and its streaming capability can challenge many of the previous regulations and show the inadequacy and inefficiency of the existing regulations. Examining the factors that cause the entry of such technology in the field of economy and international commerce shows the necessity of having regulations in harmony with the emergence of this technology and the current and future changes in international commerce. Factors such as the global trades of these assets, their use as a new tool of international payments or as a tool for financing and investment, and their function to apply global ownership will necessitate an international look at this technology. Beside, this issue is one of the cases whose effects and consequences can be extended beyond the national borders, and in such cases, there is a need to unify national laws and regulations. The difference in countries' approaches shows that national regulations alone are not able to create order and discipline in this global category. Therefore, in such matters, it is necessary to seek international order and discipline through the establishment of uniform and coordinated regulations with other countries. 

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History

  • Receive Date: 20 October 2022
  • Revise Date: 12 December 2022
  • Accept Date: 31 December 2022

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