Tag Archives: cryotocurrencies

Cryptocurrencies and ICOs – the new legal challenges

2017 has seen cryptocurrencies continue to grow in popularity throughout Australia and the world. The rapid increase in value of Bitcoin and Ether, coupled with their volatility (demonstrated by a 20% crash over two days last month) and potential use benefits, make cryptocurrencies a fascinating and challenging prospect for the future.

Given their origin on the blockchain, not only do cryptocurrencies and tokens raise practical considerations on issues such as cybersecurity, as demonstrated by the theft of around US$32 million worth of Ether tokens in July this year,1 but they also present difficulties for lawmakers, reflected by uncertainty about the treatment of digital currencies under existing regulatory regimes around the world.

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