Blockchain and Cryptocurrencies: Legal and Ethical Considerations

Blockchain and Cryptocurrencies: Legal and Ethical Considerations

Neha Mason, Malka N. Halgamuge, Kamalani Aiyar
ISBN13: 9781799866503|ISBN10: 1799866505|EISBN13: 9781799866527
DOI: 10.4018/978-1-7998-6650-3.ch007
Cite Chapter Cite Chapter

MLA

Mason, Neha, et al. "Blockchain and Cryptocurrencies: Legal and Ethical Considerations." Industry Use Cases on Blockchain Technology Applications in IoT and the Financial Sector, edited by Zaigham Mahmood, IGI Global, 2021, pp. 132-159. https://doi.org/10.4018/978-1-7998-6650-3.ch007

APA

Mason, N., Halgamuge, M. N., & Aiyar, K. (2021). Blockchain and Cryptocurrencies: Legal and Ethical Considerations. In Z. Mahmood (Ed.), Industry Use Cases on Blockchain Technology Applications in IoT and the Financial Sector (pp. 132-159). IGI Global. https://doi.org/10.4018/978-1-7998-6650-3.ch007

Chicago

Mason, Neha, Malka N. Halgamuge, and Kamalani Aiyar. "Blockchain and Cryptocurrencies: Legal and Ethical Considerations." In Industry Use Cases on Blockchain Technology Applications in IoT and the Financial Sector, edited by Zaigham Mahmood, 132-159. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-6650-3.ch007

Export Reference

Mendeley
Favorite

Abstract

In financial trading, cryptocurrencies like bitcoin use decentralization, traceability, and anonymity features to perform transactional activities. These digital currencies, using the emerging blockchain technologies, are forming the basis of the largest unregulated markets in the world. This creates various regulatory challenges, including the illicit purchase of drugs and weapons, money laundering, and funding terrorist activities. This chapter analyzes various legal and ethical implications, their effects, and various solutions to overcome the inherent issues that are currently faced by the policymakers and regulators. The authors present the result of an analysis of 30 recently published peer-reviewed scientific publications and suggest various mechanisms that can help in the detection and prevention of illegal activities that currently account for a substantial proportion of cryptocurrency trading. They suggest methods and applications that can also be used to identify the dark marketplaces in the future.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.