Se menciona en el video que, el 7 de septiembre de 2021, entra en vigencia en El Salvador la nueva ley bitcoin [criptomoneda llamada también moneda virtual o criptodivisa, es dinero digital]; dicha ley permite que esta moneda virtual circule legalmente en el país, junto al dólar, y no está controlada por un banco o un gobierno central. También, menciona que cerca de la mitad de las transacciones del bitcoin han sido asociadas a bienes y servicios ilegales. Causa incertidumbre entre los salvadoreños e inversionistas que no hay información detallada al respecto para su uso. Finalmente, se indica en el video que aprobar leyes para el beneficio de la población requiere de transparencia y participación.
Distribuierte Systeme, wie die Bitcoin-Blockchain, stellen das Recht vor neue Herausforderungen. Das disruptive Potential liegt unter anderem im Fehlen einer zentralen, verantwortlichen Kontrollinstanz, an die das Recht traditionell anknüpft, und im Verschwimmen der Rollen von "ProduzentInnen" und "KonsumentInnen" innerhalb des Systems. Die Erzeugung von Kryptowährungen, wie Bitcoin, mittels "Proof of Work" und die gleichzeitige Validierung von Transaktionen zwischen NetzwerknutzerInnen (sog "Mining") ist ein Beispiel dafür, dass die rechtlich etablierten Kategorien heute für eine effiziente Rechtsdurchsetzung unzureichend sind. "Mining" kann rechtlich zwar als Glücksspiel iSd österreichischen GSpG eingeordnet werden. Konsequenz dieser Einordnung sind allerdings Probleme beim Vollzug des folglich anwendbaren Ordnungs-, Abgaben- und Strafrechts. Daraus wird geschlossen, dass die Regulierung von "Peer to Peer"-Systemen neue Lösungsansätze erfordert, sodass dem Staat seine rechtliche Steuerungsfunktion erhalten bleibt. ; Distributed ledgers, such as the Bitcoin blockchain, create new challenges for authorities and legislators alike. The technology is considered disruptive due to the lack of a responsible legal entity and because the lines are blurred between the "producers" and "consumers" operating within it. The creation of cryptocurrencies, like Bitcoin, through "proof of work" and the simultaneous validation of transactions between users of the network (so called "mining") perfectly illustrate how established legal categories are insufficient to achieve effective law enforcement at present. This paper shows that according to Austrian law, "mining" qualifies as a gamble. In that case, the applicable provisions of Austrian regulatory, tax and criminal law are, however, hardly enforceable. It follows that the regulation of "peer to peer"-systems requires an innovative approach, in order for the state to remain a key player in managing society.
In March 2014, the IRS issued a notice detailing the tax treatment the agency would apply to virtual currencies such as Bitcoin. Although applauded by some as a step towards legal legitimacy for this new technology, the IRS's position severely undermines the transactional utility of virtual currencies. Using tax rules established for traditional property transactions frustrates one of virtual currencies' principal purposes: its use as a medium of exchange. Tax compliance requires calculation and payment of capital gains tax, which necessitates documentation of all acquisitions and dispositions of virtual currencies. This tax treatment will likely discourage the use of these currencies, or alternatively will encourage noncompliance by their users. Decentralized currencies like Bitcoin pose novel and difficult regulatory questions, but mechanically applying old rules will lead to an unsatisfactory outcome. The best solution is new legislation that specifically addresses the novel issues posed by virtual currencies, fosters the use of virtual currency in transactions, and still collects tax revenues from investors.
Criptocurrencies are popular convertible virtual currencies, as they use security mechanisms such as cryptography for creating units of the currency and controlling the transaction. Th e main property of criptocurrencies is that they provide anonymity for the transaction, as they work based on Blockchain technology. Bitcoin is one of the most important criptocurrencies on the market. Whereas we like it or not, it seems that Bitcoin has become a powerful payment instrument, but also a payment system. Th e national Governments face now a new challenge: the necessity of regulating Bitcoin. But Bitcoin is incompatible with any kind of centralized control. We can only imagine that eff ective regulations can exist only through worldwide cooperation: "Bitcoin and other virtual currencies are present and growing in major economies, supporting the call for increased global cooperation"21. Th is will be probably an expensive and complex process.
This paper reviews and contrasts the regulatory regime governing cryp-tocurrencies in Australia with those of the United States and European Union where the use of crypto-currencies in general and bitcoin in particular, is gaining momentum. This comparative analysis led the authors to conclude that the Australian regula-tory regimes are compara-ble, especially in relation to anti-money laundering activities. The finding cements the argument that it is timely to have a streamlined classification of bitcoin and/or cryp-tocurrencies across the jurisdictions, to provide the necessary guidance for all the stakeholders in the financial system.
Though the world's first cryptocurrency, Bitcoin, was introduced over a decade ago, it was not until recently that it became a mainstream subject. While cryptocurrencies offer many advantages, a potential downside for governments, is that no central bank controls the monetary policy and new coins can be mined by anyone anywhere in the world. Governments have always been deeply involved with how a their countries' currency is ran and the policies they create are meant to keep a currencies' value stable and make sure other factors like inflation is under control. Even though as of 2021, there were well over 4,000 different cryptocurrencies, the focus of this study will be Bitcoin since it is the most popular and at this point, the most valuable in terms of market capitalization. The United States government has become more involved with investigating how cryptocurrencies and Bitcoin are used, and have issued statements on the ways terrorism groups or other threats to our National Security could be effected by Bitcoin. One way countries could undermine the National Security Posture of the United States is by mining Bitcoin to replace revenue from exports that have been adversely effected by sanctions. Given the decentralized nature of Bitcoin, would it be possible for countries under sanctions from the United States to supplement their lost revenue by mining the cryptocurrency? There are a several necessary resources needed to mine Bitcoin, and countries hoping to mine Bitcoin would need an abundance of these resources. For this research, data from the World Bank Database was used to find if there was any positive or negative correlation between countries with sanctions and access to these Bitcoin mining resources. In addition to analyzing this data, different case studies were also analyzed to see if any countries are attempting to mine Bitcoins already and if so, what has been the implications so far. Furthermore, literature on sanctions, data iii analysis, recent mining activity, and white papers for Bitcoin and ...
International audience ; Serge Schweitzer, an economist and disciple of the Austrian School of Economics, has always displayed his libertarian sympathies. Following in the footsteps of economists such as Ludwig Von Mises or Murray Rothbard, he has always denounced the monopoly of governments in the production of money through central banks. This situation is now being called into question by a technological innovation: crypto-currencies (or cyber-currencies), foremost among which is Bitcoin. To honor Serge Schweitzer's career and his fight for a free currency, the author praises Bitcoin and outlines the main economic and political prospects offered by this innovation. Despite its revolutionary character from a technological and political point of view, Bitcoin faces regulatory barriers that will be difficult to overcome, and which the author analyzes in the conclusion of this article. ; Serge Schweitzer, économiste disciple de l'Ecole Autrichienne d'Economie, a toujours affiché ses sympathies libertariennes. Dans la lignée d'économistes tels que Ludwig Von Mises ou Murray Rothbard, il a toujours dénoncé le monopole des gouvernements dans la production monétaire au travers des banques centrales. Cette situation est aujourd'hui remise en cause par une innovation technologique : les crypto-monnaies (ou cybermonnaies) au premier rang desquelles Bitcoin. Pour honorer la carrière de Serge Schweitzer et son combat pour une monnaie libre, l'auteur fait l'éloge de Bitcoin et trace les principales perspectives économiques et politiques offertes par cette innovation. Malgré son caractère révolutionnaire d'un point de vue technologique et politique, Bitcoin fait face à des barrières règlementaires qui seront difficiles à surmonter, et que l'auteur analyse en conclusion de cet article.
International audience ; Serge Schweitzer, an economist and disciple of the Austrian School of Economics, has always displayed his libertarian sympathies. Following in the footsteps of economists such as Ludwig Von Mises or Murray Rothbard, he has always denounced the monopoly of governments in the production of money through central banks. This situation is now being called into question by a technological innovation: crypto-currencies (or cyber-currencies), foremost among which is Bitcoin. To honor Serge Schweitzer's career and his fight for a free currency, the author praises Bitcoin and outlines the main economic and political prospects offered by this innovation. Despite its revolutionary character from a technological and political point of view, Bitcoin faces regulatory barriers that will be difficult to overcome, and which the author analyzes in the conclusion of this article. ; Serge Schweitzer, économiste disciple de l'Ecole Autrichienne d'Economie, a toujours affiché ses sympathies libertariennes. Dans la lignée d'économistes tels que Ludwig Von Mises ou Murray Rothbard, il a toujours dénoncé le monopole des gouvernements dans la production monétaire au travers des banques centrales. Cette situation est aujourd'hui remise en cause par une innovation technologique : les crypto-monnaies (ou cybermonnaies) au premier rang desquelles Bitcoin. Pour honorer la carrière de Serge Schweitzer et son combat pour une monnaie libre, l'auteur fait l'éloge de Bitcoin et trace les principales perspectives économiques et politiques offertes par cette innovation. Malgré son caractère révolutionnaire d'un point de vue technologique et politique, Bitcoin fait face à des barrières règlementaires qui seront difficiles à surmonter, et que l'auteur analyse en conclusion de cet article.
The proliferation of technology emphasized new forms of payment. During the last years, current literature highlighted the role of virtual currency, the channels of payment through digital coins and the importance of assimilation of such platforms. Bitcoin or BTC is known as a digital coin, issued for the first time in 2009 and based on a peer to peer system. The difference from other forms of payment is that BTC is not controlled by any institution or central authority. BTC transactions have grown rapidly, "asking" for regulation measures or legal approval of governments. Although BTC has become very popular, the market is poor and unfortunately of no confidence. There is a lack of regulation which can determine a number of risks associated with criminal financing activities. However, the legal status of Bitcoin is present in many European countries like Belgium, Bulgaria, Denmark, Finland, Germany, Lithuania, Norway, Poland, Slovenia, Switzerland or Turkey. Also, this type of currency has experienced a rapid evolution among coffee shops and restaurants.
46 páginas : ilustraciones. ; Esta investigación pretende abordar la dinámica económica que ha introducido la nueva tecnología en la utilización del bitcoin como criptomoneda para efectuar transacciones de pago y transferencias de dinero digital sin control de las entidades financieras ni pago de impuestos. Explora las particulares características de bitcoin que surgen de su armado técnico, funcionamiento del sistema, se presentan estadísticas acerca del comportamiento con relación a la evolución del valor, transacciones diarias, cajeros en países para su utilización, bitcoins minados y desempeño en el mercado que determinará la influencia del bitcoin en la economía de los países, específicamente en Colombia en donde entidades del gobierno nacional como el Banco de La República ha dado su punto de vista con relación a invertir en esta forma de dinero no oficial. ; This research is intended to address the economic dynamic that has introduced the new technology in the use of the bitcoin as cryptocurrency for payment transactions and transfers digital money without control of financial entities or payment of taxes. It explores the particular characteristics of bitcoin arising from its technical Assembly, system operation, statistics about behavior are presented in relation to the evolution of the value, daily transactions, ATM's in countries for their use, bitcoins mined and performance in the market which will determine the influence of the bitcoin on the countries economy, specifically in Colombia where national government entities as Bank of the Republic has given its point of view with regard to invest in this form of unofficial money.
International audience ; Distributed Ledgers (e.g. Bitcoin) occupy currently the first lines of the economical and political media and many speculations are done with respect to their level of coherence and their computability power. Interestingly, there is no consensus on the properties and abstractions that fully capture the behaviour of distributed ledgers. The interest in formalising the behaviour of distributed ledgers is twofold. Firstly, it helps to prove the correctness of the algorithms that implement existing distributed ledgers and explore their limits with respect to an unfriendly environment and target applications.%Secondly, it facilitates the identification of the minimal building blocks necessary to implement the distributed ledger in a specific environment. Even though the behaviour of distributed ledgers is similar to abstractions that have been deeply studied for decades in distributed systems no abstraction is sufficiently powerful to capture the distributed ledger behaviour.This paper introduces the Distributed Ledger Register, a register that mimics the behaviour of one of the most popular distributed ledger, i.e. the Bitcoin ledger. The aim of our work is to provide formal guarantees on the coherent evolution of Bitcoin. We furthermore show that the Bitcoin blockchain maintenance algorithm verifies the distributed ledger register properties under strict conditions. Moreover, we prove that the Distributed Ledger Register verifies the regularity register specification. It follows that the strongest coherency implemented by Bitcoin is regularity under strong assumptions (i.e. partial synchronous systems and sparse reads). This study contradicts the common belief that Bitcoin implements strong coherency criteria in a totally asynchronous system. To the best of our knowledge, our work is the first one that makes the connection between the distributed ledgers and the classical theory of distributed shared registers.
International audience ; Distributed Ledgers (e.g. Bitcoin) occupy currently the first lines of the economical and political media and many speculations are done with respect to their level of coherence and their computability power. Interestingly, there is no consensus on the properties and abstractions that fully capture the behaviour of distributed ledgers. The interest in formalising the behaviour of distributed ledgers is twofold. Firstly, it helps to prove the correctness of the algorithms that implement existing distributed ledgers and explore their limits with respect to an unfriendly environment and target applications.%Secondly, it facilitates the identification of the minimal building blocks necessary to implement the distributed ledger in a specific environment. Even though the behaviour of distributed ledgers is similar to abstractions that have been deeply studied for decades in distributed systems no abstraction is sufficiently powerful to capture the distributed ledger behaviour.This paper introduces the Distributed Ledger Register, a register that mimics the behaviour of one of the most popular distributed ledger, i.e. the Bitcoin ledger. The aim of our work is to provide formal guarantees on the coherent evolution of Bitcoin. We furthermore show that the Bitcoin blockchain maintenance algorithm verifies the distributed ledger register properties under strict conditions. Moreover, we prove that the Distributed Ledger Register verifies the regularity register specification. It follows that the strongest coherency implemented by Bitcoin is regularity under strong assumptions (i.e. partial synchronous systems and sparse reads). This study contradicts the common belief that Bitcoin implements strong coherency criteria in a totally asynchronous system. To the best of our knowledge, our work is the first one that makes the connection between the distributed ledgers and the classical theory of distributed shared registers.
International audience ; Distributed Ledgers (e.g. Bitcoin) occupy currently the first lines of the economical and political media and many speculations are done with respect to their level of coherence and their computability power. Interestingly, there is no consensus on the properties and abstractions that fully capture the behaviour of distributed ledgers. The interest in formalising the behaviour of distributed ledgers is twofold. Firstly, it helps to prove the correctness of the algorithms that implement existing distributed ledgers and explore their limits with respect to an unfriendly environment and target applications.%Secondly, it facilitates the identification of the minimal building blocks necessary to implement the distributed ledger in a specific environment. Even though the behaviour of distributed ledgers is similar to abstractions that have been deeply studied for decades in distributed systems no abstraction is sufficiently powerful to capture the distributed ledger behaviour.This paper introduces the Distributed Ledger Register, a register that mimics the behaviour of one of the most popular distributed ledger, i.e. the Bitcoin ledger. The aim of our work is to provide formal guarantees on the coherent evolution of Bitcoin. We furthermore show that the Bitcoin blockchain maintenance algorithm verifies the distributed ledger register properties under strict conditions. Moreover, we prove that the Distributed Ledger Register verifies the regularity register specification. It follows that the strongest coherency implemented by Bitcoin is regularity under strong assumptions (i.e. partial synchronous systems and sparse reads). This study contradicts the common belief that Bitcoin implements strong coherency criteria in a totally asynchronous system. To the best of our knowledge, our work is the first one that makes the connection between the distributed ledgers and the classical theory of distributed shared registers.
International audience ; Distributed Ledgers (e.g. Bitcoin) occupy currently the first lines of the economical and political media and many speculations are done with respect to their level of coherence and their computability power. Interestingly, there is no consensus on the properties and abstractions that fully capture the behaviour of distributed ledgers. The interest in formalising the behaviour of distributed ledgers is twofold. Firstly, it helps to prove the correctness of the algorithms that implement existing distributed ledgers and explore their limits with respect to an unfriendly environment and target applications.%Secondly, it facilitates the identification of the minimal building blocks necessary to implement the distributed ledger in a specific environment. Even though the behaviour of distributed ledgers is similar to abstractions that have been deeply studied for decades in distributed systems no abstraction is sufficiently powerful to capture the distributed ledger behaviour.This paper introduces the Distributed Ledger Register, a register that mimics the behaviour of one of the most popular distributed ledger, i.e. the Bitcoin ledger. The aim of our work is to provide formal guarantees on the coherent evolution of Bitcoin. We furthermore show that the Bitcoin blockchain maintenance algorithm verifies the distributed ledger register properties under strict conditions. Moreover, we prove that the Distributed Ledger Register verifies the regularity register specification. It follows that the strongest coherency implemented by Bitcoin is regularity under strong assumptions (i.e. partial synchronous systems and sparse reads). This study contradicts the common belief that Bitcoin implements strong coherency criteria in a totally asynchronous system. To the best of our knowledge, our work is the first one that makes the connection between the distributed ledgers and the classical theory of distributed shared registers.
International audience ; Distributed Ledgers (e.g. Bitcoin) occupy currently the first lines of the economical and political media and many speculations are done with respect to their level of coherence and their computability power. Interestingly, there is no consensus on the properties and abstractions that fully capture the behaviour of distributed ledgers. The interest in formalising the behaviour of distributed ledgers is twofold. Firstly, it helps to prove the correctness of the algorithms that implement existing distributed ledgers and explore their limits with respect to an unfriendly environment and target applications.%Secondly, it facilitates the identification of the minimal building blocks necessary to implement the distributed ledger in a specific environment. Even though the behaviour of distributed ledgers is similar to abstractions that have been deeply studied for decades in distributed systems no abstraction is sufficiently powerful to capture the distributed ledger behaviour.This paper introduces the Distributed Ledger Register, a register that mimics the behaviour of one of the most popular distributed ledger, i.e. the Bitcoin ledger. The aim of our work is to provide formal guarantees on the coherent evolution of Bitcoin. We furthermore show that the Bitcoin blockchain maintenance algorithm verifies the distributed ledger register properties under strict conditions. Moreover, we prove that the Distributed Ledger Register verifies the regularity register specification. It follows that the strongest coherency implemented by Bitcoin is regularity under strong assumptions (i.e. partial synchronous systems and sparse reads). This study contradicts the common belief that Bitcoin implements strong coherency criteria in a totally asynchronous system. To the best of our knowledge, our work is the first one that makes the connection between the distributed ledgers and the classical theory of distributed shared registers.
