Bitcoin Versus Regulated Payment Systems: What Gives?

Authors

Lawrence J. Trautman, Western Carolina University
Alvin C. Harrell, Oklahoma City University School of Law

Abstract

The article explores the evolution and challenges of virtual currencies like Bitcoin, highlighting their potential to transform traditional payment systems while posing significant regulatory and jurisdictional difficulties. It argues that while virtual currencies offer benefits such as reduced transaction costs and financial inclusion, their decentralized nature and association with illicit activities necessitate a balanced approach to regulation. The article emphasizes the importance of adapting legal frameworks to accommodate innovation while addressing risks, ensuring a stable environment for virtual currencies to coexist with traditional monetary systems.

Disciplines

Banking and Finance Law | Criminal Law | Criminal Procedure | Law | Science and Technology Law

Recommended Citation

Lawrence J. Trautman & Alvin C. Harrell, Bitcoin Versus Regulated Payment Systems: What Gives?, 38 Cardozo L. Rev. 1041 (2017).
Available at: https://larc.cardozo.yu.edu/clr/vol38/iss3/5