Document Type
Original Study
Abstract
Digital money is one of the modern innovations created by technological advances, and economic conditions due to the global coronavirus pandemic accelerated their spread. If money is considered the greatest discovery of mankind, today, more than ten years ago, we are witnessing the birth of a new era of money, the age of digital money, the first cryptocurrency dubbed "digital money". Bitcoin, on January 3, 2009, was launched by someone who called himself a symbolic name. (Satoshi Nakamoto), digital money is the latest step towards central Internet services. This topic has become a controversy for legal and economic jurisprudence between supporters and opponents. Although the reality of the transaction has proved its existence through the treatment of large companies such as the company Microsoft and Diel have been recognized in some countries in the world and adopted currency like others. Through this research we will highlight the concept of digital money, and the legal problems that accompany it, as these money are only digitally and electronically available codes, not materially -Untangible - Processed using computer devices or electronic wallets basically based on encryption principles, they are not issued by a particular monetary authority or bank. There is no control authority over it, nor does it have any serial number. And no traceability means to reach the seller or buyer, and that's where the dangers lie. But the dealers see that this is one of the things that contributed to its spread. Because of the lack of legal regulation of the subject matter, our study will be in the light of international and domestic legislation, including Iraqi law.
Recommended Citation
Hussein, Iman Hamza
(2022)
"The Legal Nature of Digital Money,"
Imam Ja'afar Al-Sadiq University Journal of Legal Studies: Vol. 2:
Iss.
2, Article 4.
Available at:
https://ijsu.researchcommons.org/ijsu/vol2/iss2/4