Cryptocurrencies in economic activity — selected remarks

Abstract

The article is an attempt to answer the questions related to the use of cryptocurrencies in eco-nomic activity. The main theme of the Convention of the Departments of Public Economic Law “The State and the Entrepreneur — Present Challenges” encourages us to seek new phenomena in the business area which, if they occur, may require legal regulation. Such phenomena include cryptocurrencies, which have become increasingly important in recent years. The occurrence of cryptocurrencies has been accompanied with new business areas related to their acquisition (e.g., “mining”), as well as trading (e.g., cryptocurrency exchange). From the perspective of the public interest, it must be carefully analyzed whether the existing legal regulations appropriately identify and regulate such phenomena. In particular, one must answer the questions whether the activities related to acquisition and trading with cryptocurrencies constitutes economic activity in the meaning of the law, and — if they do — whether such business is to be free or regulated.