Legal regulations of cryptocurrency

Abstract

Cryptocurrency is one of the outstanding, innovative applications of the Fourth Industrial Revolution. Currently, cryptocurrencies are accepted and regulated as special assets, commodities, securities or means of payment, exchange in the word such as many countries of the European Union, USA, Australia, Thailand.... But this object is still not recognized and regulated activities related to exploitation, business, investment, exchange,… by Vietnamese laws. This can lead to inadequacies of arising in the application of regulatory laws as well as loss of tax revenue even though cryptocurrencies-related activities still take place every day in Vietnam. By using the methods of comparison, jurisprudence analysis, deduction and inductiveness, the Thesis has researched the current state of legislation of countries around the world which are governing cryptocurrencies in order to compare with Vietnamese legal regulations. The major aims to offer some recommendations and proposals for the development of a viable regulatory framework that supports the recognition of cryptocurrency as an institution of property bases on legal nature of cryptocurrency.