Legal Implications of Cryptocurrency and Blockchain Technology

Abstract

Cryptocurrency and blockchain technology have emerged as significant innovations in the modern digital economy, transforming financial systems, online transactions, data management, and global business operations. Cryptocurrencies such as Bitcoin and Ethereum operate through decentralized blockchain networks that enable secure, transparent, and peer-to-peer digital transactions without direct control of traditional financial institutions. While these technologies offer advantages such as efficiency, transparency, decentralization, and reduced transaction costs, they also create complex legal, regulatory, and ethical challenges. the legal implications of cryptocurrency and blockchain technology from a contemporary legal perspective. It explores the nature, functioning, and growing use of cryptocurrencies and blockchain systems in financial transactions, digital contracts, supply chain management, and decentralized applications. The legal challenges associated with regulation, taxation, money laundering, cybercrime, fraud, consumer protection, and financial security in the digital economy.