Cryptocurrencies in the Digital Age: Global Legal Challenges

Abstract

Cryptocurrency has rapidly emerged as a vital pillar of the digital economy, introducing transformative changes to the financial system and fostering unparalleled levels of innovation and efficiency. However, its swift expansion and decentralized characteristics have emphasized pressing legal challenges that require urgent attention and resolution. A significant issue is the lack of clear legal frameworks for resolving disputes and ensuring accountability in cryptocurrency transactions, which has intensified the complexity of legal risks. This article aims to shed light on the critical legal risks tied to cryptocurrency, such as regulatory gaps, the dangers of fraud and cybercrime, concerns about money laundering, and the urgent necessity to protect consumer rights.