Electronic Currency in Terms of Modern Economic and Legal Challenges

Electronic Currency in Terms of Modern Economic and Legal Challenges





Cryptocurrency, Bitcoin, government regulation, Legislative design of the cryptocurrency market


The article provides a brief excursion into the development of cryptocurrencies and presents the theoretical content of a new type of digital money. Today, there is no unified interpretation of cryptocurrency in the world. The history of the origin of crypto-currencies, their distinguishing features from ordinary currency, their legal status, specifics of use, and the attitude of the governments of different countries towards them are characterized. The article highlights the most important features of cryptocurrency, such as decentralization, anonymity, and lack of guarantees. Two possible scenarios for the development of crypto-currency in Georgia are proposed: prohibitive and regulatory. It is noted that cryptocurrency should not be banned, but should be studied first and then regulated.


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Author Biographies

Maia Chechelashvili, Georgian Technical University

Doctor of Economics (Ph. D.), Associate Professor

Giorgi Topuria, Georgian Technical University

Doctoral Student


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