Analyzing Cryptocurrencies as Capital

Professor, Private Law Department, Law faculty, Farabi college of University of Tehran, Tehran, Iran.
Associate professor, University of Qom, Qom, Iran.
PhD student, Private Law, Aras International Campus of University of Tehran, Tehran, Iran.

ABSTRACT

The emergence and prevalence of cryptocurrencies guided the states towards various approaches and the issue has been more investigated from the perspective of money and monetary regulations; while, the current article has explored cryptocurrencies from the perspective of digital capital and it was proved that the coercive and hostile approach or opposition does not have any effect on circulation of cryptocurrencies and their denial. Thus, cryptocurrencies can be managed by considering them as valuable capital in the financial markets. It was also proved that the absorption of cryptocurrencies being supported by the Islamic financial regulations does not contradict the canon, and Iran’s statutory provisions have the capacity of providing the conditions and legal solutions for absorbing cryptocurrencies as capital. This article has been conducted based on a descriptive-analytic research method, and cryptocurrencies and the countries’ approaches towards them were seminally explicated followed by analyzing and justifying the legitimacy and conditions and legal solutions of absorbing them as capital in adherence to the Islamic financial regulations and capital rules.

Keywords: cryptocurrencies , capital , legal solutions , legitimacy , smart contract.

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BARIKLOU A, ARABI S H, REZAZADEH M A. Analyzing Cryptocurrencies as Capital. Journal Of Organizational Behavior Research 2020;5(2):148-65

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