The importance of the study is that the virtual currency has recently seen a great development and unusual demand, especially since the emergence of the Bitcoin. This is due to the liberalization of the restrictions imposed by the traditional currencies, which has become a form of monetary competition, the main element that distinguishes it is its areas of use: it combats speculation in local currencies, activates commercial activities, facilitates transfers for commercial, educational and service purposes, and many more legitimate purposes. More importantly, these transactions and transfers are carried out without disclosing the identity of the persons who implement them, thus enhancing privacy. But it has several disadvantages, most notably: it can be used as an unknown means to carry out illegal transactions such as financing terrorism, drug trafficking, money laundering and other illegal operations. The problem of the study is characterized by the subjectivity of the virtual currency. Since its emergence, its adaptability, nature, source and ambiguity have been ambiguous. Many articles have been written to show how its work, its advantages, its strengths and its weaknesses, but the rare ones studied it in legal terms, the dilemma of the legal adjustment of the virtual currency is one of the most modern legal dilemmas. Is the virtual currency like the traditional currency? Or electronics money? Or means of payment? Or moneys? Therefore, this research aims to find a specialized legal study in the virtual currency that answers the previous questions and shows the subjective and nature of the virtual currency. Keywords: Virtual Currencies, Electronic Money, Virtual Funds, Private Funds.
Al-Majali, Dr. Ahmed
"The legal Nature of the Virtual Currency: In-Depth Legal Insight,"
UAEU Law Journal: Vol. 2020:
81, Article 5.
Available at: https://scholarworks.uaeu.ac.ae/sharia_and_law/vol2020/iss81/5