Abstract
The unique and innovative system of Bitcoin raises many questions both from users and from legislators. What is the place of Bitcoin in existing legal frames? Can Bitcoin be considered as a financial instrument, and if so, what is its place in the stock market? Can it be considered as online currency, and if so, should Bitcoin operation be licensed? Maybe Bitcoin is a property or commodity, and if so how such property rights should be transferred? This paper explains the role of Bitcoin and its involvement in economic activity worldwide, reflecting on the modern views of legislators and judicial bodies at the local and international levels.
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KEYWORDS
"Bitcoin", " Digital Currency", " Property", " Financial Instrument", " Securities"
Digital Media
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