Cryptocurrency and the Consideration Conundrum: Does Crypto Have Legal Value under Contract Law?

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dc.contributor.authorGiancaspro, M.
dc.date.issued2022
dc.description.abstractCryptocurrency is a flagship technology of the Fourth Industrial Revolution. Millions of crypto trades are occurring daily, with the global crypto market now having an estimated capitalisation of US$2.47 trillion. It was inevitable that cryptocurrency's compatibility with existing legal frameworks would be questioned, though close to no attention has been devoted to its inherent legal value. Without a sufficient measure of such value, it cannot be consideration to support a contract for its sale. This article argues that contract law principles do not comfortably recognise value in cryptocurrency and calls for the conception of a comprehensive and detailed regulatory framework to resolve this and other conundrums afflicting cryptocurrency.
dc.description.statementofresponsibilityMark A Giancaspro
dc.identifier.citationJournal of Banking and Finance: Law and Practice, 2022; 33(1):3-20
dc.identifier.issn1034-3040
dc.identifier.orcidGiancaspro, M. [0000-0002-0121-0590]
dc.identifier.urihttps://hdl.handle.net/2440/135906
dc.language.isoen
dc.publisherThomson Reuters
dc.rights© 2022 Thomson Reuters (Professional) Australia Limited for further information visit www.thomsonreuters.com.au or send an email to care.anz@tr.com
dc.source.urihttps://anzlaw.thomsonreuters.com/Document/I9bfcffb0f07d11ecb9f3a238f400dc69/View/FullText.html?transitionType=Default&contextData=(sc.Default)&VR=3.0&RS=cblt1.0
dc.titleCryptocurrency and the Consideration Conundrum: Does Crypto Have Legal Value under Contract Law?
dc.typeJournal article
pubs.publication-statusPublished

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