Investigator:

Michail Risvas

Abstract:

The creation of blockchain is one of the most important technological developments of the 21st century. This technological leap enabled the creation of cryptocurrencies. Unsurprisingly, cryptocurrencies are increasingly the focus of litigation before international, regional and domestic courts and tribunals. This research will explore how US, EU, UK courts and the WTO Dispute Settlement System approach the complex question of the legal classification of cryptocurrencies. The aim is two-fold: analytical and normative. First, from an analytical perspective, this research will explore the different (actual or potential) legal classifications of cryptocurrencies such as bitcoins under US, EU, UK and WTO law. For doing so, this research will delve into the relevant international treaties, domestic legislation, the case law of international, regional and domestic courts and tribunals as well as the relevant scholarship. Second, from a normative perspective, this research will take a position on what is the most appropriate legal classification of cryptocurrencies, considering regulatory and policy implications. In that vein, it will be examined whether it is possible (and/or desirable) to have (i) a common legal classification of cryptocurrencies (contributing towards the creation of a common lex cryptographica) or (ii) a fragmented regulatory approach, with different jurisdictions adopting their own categorization.