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15 J. Bus. & Sec. L. 1 (2014)
Bitcoin, Its Legal Classification and Its Regulatory Framework

handle is hein.journals/bussecul15 and id is 159 raw text is: BITCOIN, ITS LEGAL CLASSIFICATION AND ITS REGULATORY FRAMEWORK By: Tara Mandjee Abstract: Bitcoin is a revolutionary computer protocol created as a decentralized payment system. This article discusses the potential legal classification of Bitcoin and the consequences thereto. Furthermore, it considers the current regulatory landscape applicable to Bitcoin and the areas that call for additional regulation. I propose that given Bitcoin's unique features and related policy considerations, technology specific regulations need to be implemented to protect consumers and bring legitimacy to digital currencies. Given the fluctuating nature of the law, this article is limited to the current state of the law and does not intend to cover every aspect of Bitcoin; it covers current issues as discussed on a day-to-day basis up until December 31, 2014.