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Regulating Cryptocurrencies in Poland and in the World as Exemplified by Bitcoin – the Legal Status and Economic (Regulowanie kryptowalut w Polsce i na swiecie na przykladzie Bitcoina – status prawny i interpretacja ekonomiczna )

Author

Listed:
  • Grzegorz Sobiecki

    (Szkola Glowna Gospodarstwa Wiejskiego w Warszawie, Wydzial Nauk Ekonomicznych, Katedra Ekonomii i Polityki Gospodarczej)

Abstract

The author presents the current legal status of cryptocurrencies in the world and in Poland and a preliminary economic assessment of legal solutions in Poland. The author points out that the current importance of Bitcoin is scarce in Poland and small in the world, despite the increasingly elaborate Bitcoin ecosystem, and that the Polish law is prepared for the adoption of this new phenomenon. However, there are still a lot of unresolved specific issues, particularly concerning tax, that make it difficult for financial institutions and users to take a stance on Bitcoin, which generates the need for an official arrangement on Bitcoin. The author also proposes an approach to enable the development of private exchange, which however would require extensive action on a global scale.

Suggested Citation

  • Grzegorz Sobiecki, 2015. "Regulating Cryptocurrencies in Poland and in the World as Exemplified by Bitcoin – the Legal Status and Economic (Regulowanie kryptowalut w Polsce i na swiecie na przykladzie Bitcoina – status prawny ," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 13(54), pages 144-163.
    • Handle: RePEc:sgm:pzwzuw:v:13:i:54:y:2015:p:144-163
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    More about this item

    Keywords

    Bitcoin; cryptocurrencies; regulation; law;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K29 - Law and Economics - - Regulation and Business Law - - - Other
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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