A comparative study in the analysis of the legal format of the cryptocurrency Technology mining mechanism: needs and policies
Subject Areas : Policy-making and implementation of sustainable development in all areasحسین صادقی 1 , Fatemeh Nouri 2 , Mahdi Naser 3
1 - Director of Business Department, Faculty of Entrepreneurship, University of Tehran
2 - Phd in Private Law Univerdity of judicial sciences
3 - Private law Student University of judicial sciences
Keywords: Cryptocurrency, Occupancy, of Unknown Ownership, Contract of Reward, Mining,
Abstract :
Mining, as one of activities of cryptocurrency field, has faced two legal challenges since beginning of its entry into societies. On one hand, unknown legal dimensions of this activity due to its new structure and on or hand, production and release of currency by private sector without supervision and control of government, which is against axioms of financial and monetary system of countries. A review of legal systems in field of cryptocurrencies shows that in order to solve se two challenges, legislators are generally not in a hurry to regulate and are satisfied with adapting new situation to existing regulations and at most, regulations have been set in some areas such as taxes and money laundering. Legislators are actually taking measures to limit and control mining and monitoring of currency exchanges extracted from this operation. In Iran's legal system, according to regulations of mining process, mining is recognized as an industry, but its legal aspects are unclear and refore, re is no solution except adapting it to existing institutions. legal structure of mining is closer to three entities of occupancy, of unknown ownership and reward, but it can be adapted to reward. In mining, re is a public offer to solve mamatical problems that any person who does it first can get reward. Solving mamatical problem and subsequently signing block to verify transaction, which is done with rational purpose of securing network, is an action that is required and reward is also remuneration given for this act