Economic Strategy

Economic Strategy

Strategic-legal analysis of theoretical foundations and the nature of crypto values that can be mined with monetary schools of economics (Bitcoin case study)

Document Type : Original Article

Authors
Mohammad Reza Keshavarzi 1
mohsen rezaei sadrabadi 2
Mahdi Saqi 3
1 Department of Fixed and Mobile Radio Communications, Communication Technology Research Institute, Communication and Information Technology Research Institute
2 PhD in Economic Sciences, Islamic Studies and Economics Faculty, Imam Sadiq
3 Master's student in Public Law, Islamic Studies and Law Faculty, Imam Sadiq University, Tehran, Iran
10.22034/es.2024.412913.1699
Abstract
In the meantime, one of the important issues regarding extractable cryptocurrencies such as Bitcoin and the like is their nature and the analysis of whether or not they are money in the economy and law, which determines their policy strategies.
In other words, the issue is whether minable cryptocurrencies such as Bitcoin are money in terms of the theoretical foundations of conventional economic monetary schools, and which of the monetary schools are compatible with them, or whether they have another nature,. In this research, based on the comparative analysis method, on the one hand, the theoretical foundations of the cryptocurrencies that can be mined with the money schools of conventional economics have been analyzed and investigated, and on the other hand, based on the legal strategies in the countries First, the way of their legal confrontation with this type of phenomenon should be explained.
The research results show; Firstly, despite the fact that they have been used in some human financial interactions in the last decade as a counting unit, a means of exchange and even a store of value and have performed the functions of money, but with the theoretical foundations of none of the monetary schools. Metalism and chartalism are not compatible. Secondly, in terms of practice and experience, the legal strategies of the countries of the world in dealing with cryptocurrencies such as Bitcoin have been twofold, that is, they have formulated the necessary rules and regulations for both financial and monetary aspects.
Keywords
"Crypto Value"
"Bitcoin"
"Money Schools"
"Metalism"
"Chartalism"

Subjects

 
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  • Receive Date 12 September 2023
  • Revise Date 30 October 2023
  • Accept Date 25 December 2023