Cryptocurrencies and regulations: a comparative framework for international implementations

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dc.authorid0000-0003-3414-972X
dc.authorid0000-0002-3893-4015
dc.authorid0000-0003-3414-972Xen_US
dc.authorid0000-0002-3893-4015en_US
dc.contributor.authorOzak, Ceydaen_US
dc.contributor.authorTeker, Dileken_US
dc.date.accessioned2023-03-01T11:56:18Z
dc.date.available2023-03-01T11:56:18Z
dc.date.issued2023-02-01
dc.departmentIşık Üniversitesi, Lisansüstü Eğitim Enstitüsü, Muhasebe ve Denetim Yüksek Lisans Programıen_US
dc.departmentIşık Üniversitesi, İktisadi, İdari ve Sosyal Bilimler Fakültesi, İşletme Bölümüen_US
dc.departmentIşık University, Faculty of Economics, Administrative and Social Sciences, Department of Managementen_US
dc.description.abstractPurpose- The recent developments in technology have created a remarkable increase in the financial markets. The decentralization of crypto assets and the price movements attract investors attention as an demanding financial instrument. Since the beginning of pandemics, inflation is one of the major macroeconomic issue in the globe that push the investors to seek for new investment opportunities. Perhaps the positive perception regarding the cryptocurrency investment is its protection from inflation. In addition cost-effective mode of transaction and easy transfer of funds make these instruments unique. On the other hand, it can also lead to unsolicited consequences such as money laundering, illegal purchases, and the elimination of corruption. In this context, regulations are being formed to bring crypto assets, which attract the attention of experts, into compliance with the tax and trade-related laws of countries in the financial system. In this study, it is aimed to convey the importance of regulation and regulations on the world. Methodology- Since the first launch of Bitcoin as a cryptocurrency in 2009; the recent discussion came forward on how to regulate this market. Understanding cryptocurrency takes time and effort while they are extremely volatile investment. The crypto money applications of the countries and their taxation and approaches towards these applications have been evaluated by examining the official reports of the countries. Findings- Countries' perspectives on crypto money, the concept and definitions of crypto money vary. Some accept the cryptocurrencies as legal investment tools and draw a legal framework, while some announce that they eliminate these investments. Perhaps developing a framework can help to regulate both actors and also the transactions in the crypto ecosystem. National authorities plan to take a position how technology can be used to create cryptoassets. Conclusion- Regulations are important for making the financial system safe, protecting individual investors and ensuring an orderly environment in enterprises. Countries need to accept the crypto currency system and keep up with the innovations of crypto money by changing the current standards if necessary.en_US
dc.description.versionPublisher's Versionen_US
dc.identifier.citationOzak, C. & Teker, D. (2023). Cryptocurrencies and regulations: a comparative framework for international implementations. PressAcademia Procedia, 16(1), 243-244. doi:10.17261/Pressacademia.2023.1710en_US
dc.identifier.endpage244
dc.identifier.issn2459-0762en_US
dc.identifier.issue1
dc.identifier.startpage243
dc.identifier.urihttps://hdl.handle.net/11729/5404
dc.identifier.urihttp://dx.doi.org/10.17261/Pressacademia.2023.1710
dc.identifier.volume16
dc.institutionauthorOzak, Ceydaen_US
dc.institutionauthorTeker, Dileken_US
dc.language.isoenen_US
dc.peerreviewedYesen_US
dc.publicationstatusPublisheden_US
dc.publisherPressAcademiaen_US
dc.relation.ispartofPressAcademia Procediaen_US
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı ve Öğrencien_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectRegulationen_US
dc.subjectCrypto asseten_US
dc.subjectIndividual investoren_US
dc.subjectTaxen_US
dc.titleCryptocurrencies and regulations: a comparative framework for international implementationsen_US
dc.typeArticleen_US

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