(University of the Western Cape, 2018) Egbiri, Egbiri Ifegwu; Azinge, Nkechikwu Valerie
Arguments for regulating Bitcoin are built mainly on the technologically disruptive
nature of the currency and its susceptibility to facilitating financial crimes on a scale
larger than financial institutions. This paper questions this notion and proposes
instead that the disruptive nature of Bitcoin is not technological but legal. The legal
disruption requires a legislative response aimed at ensuring suitable regulation that
can circumvent the identity crises in Bitcoin transactions.