A LEGAL STUDY ON THE LEGITIMACY OF TRANSACTIONS IN DIGITAL CURRENCIES (BITCOIN AS A MODEL).
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Abstract
Cryptocurrencies are considered one of the most significant innovations in financial technology and have experienced unprecedented growth in recent years due to the rise of e-commerce. Among these currencies, bitcoin stands out as a decentralized digital currency. The novelty of this type of currency and its unique characteristics have clearly and significantly influenced the determination of its legal nature. In addition, its characteristics have contributed to the expansion of its application, leading some legislators to seek a legal framework to accommodate this new technological entrant.
Due to the importance of this issue, it will be addressed through two sections: the first is dedicated to studying the concept of bitcoin as a cryptocurrency, while the second evaluates bitcoin as a cryptocurrency.
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References
Legal Texts
Law No. 17-11 dated 8 Rabi’ al-Thani 1439 AH corresponding to December 27, 2017, concerning the Finance Law for the year 2018, Official Gazette, No. 76, issued on December 28, 2017.
Law No. 18-05 dated 24 Sha’ban 1439 AH corresponding to May 10, 2018, concerning electronic commerce, Official Gazette, No. 28, issued on May 16, 2018
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