Crypto currency and law

Crypto currency and law

Armel Njoya, EO-201i, KNEU

INTRODUCTION

Each fiduciary currency in the world is created, released and controlled by a single entity – in most cases, a central bank. By law, ordinary citizens are only allowed to buy, sell or keep money. If someone tries to create a sum of money, they will inevitably find themselves behind bars.

As the use of crypto currency becomes more and more common, law enforcement, tax authorities and legal regulators around the world are trying to focus on the concept of crypto currency and where is it located. It exactly within existing regulations and legal frameworks.

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