@article{ART003145075},
author={Cha Su Bong and kim jung hoon},
title={A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm},
journal={Legal Theory & Practice Review},
issn={2288-1840},
year={2024},
volume={12},
number={4},
pages={137-153}
TY - JOUR
AU - Cha Su Bong
AU - kim jung hoon
TI - A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm
JO - Legal Theory & Practice Review
PY - 2024
VL - 12
IS - 4
PB - The Korea Society for Legal Theory and Practice Inc.
SP - 137
EP - 153
SN - 2288-1840
AB - Science and technology such as artificial intelligence, blockchain, and big data have made a lot of information created in virtual space into currency through blockchain technology. Blockchain technology, which began with cryptocurrency, goes beyond simple commerce and can check the authenticity of personal medical information, agricultural and fishery products, and luxury products, from smart contracts where the other party's contents and special agreements can be specified in detail. Cryptocurrencies are expected to bring efficient management and innovation in financial services and public sectors. However, cryptocurrency fluctuates in price as an investment target, and rather than functioning as an actual transaction currency, it turns into a means of speculation or crime, and it is time for overall legislation, including protection and regulation.
Therefore, this paper attempted to examine the process of the country's monetary and monetary policy as a starting point for cryptocurrency. Looking at the introduction of the Bretton Woods system, which is the beginning of the state's intervention in response to the economic situation based on invisible hands, and the recent subprime mortgage theory in the United States, the process of breaking away from the state's monopoly on money was described.
Since then, we have looked at the U.S. and China to examine the differences in cryptocurrency activation and regulation by country. Along with the regulation of cryptocurrency in the U.S. and the SEC's approval of ETFs on Bitcoin, it examined that policy judgments on the permission and regulation of cryptocurrency are currently a major issue in the U.S. presidential election, while mining and trading of bitcoin are completely banned in China. We looked at the process of policy confusion related to cryptocurrency in Korea, the law on reporting and using specific financial transaction information, which is currently a law related to cryptocurrency, and the law on the protection of virtual asset users.
KW - Cryptocurrency;Monetary and monetary policies;Monetary control;Money monopoly rights by the state;Virtual assets;Protection of users of virtual assets
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Cha Su Bong and kim jung hoon. (2024). A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm. Legal Theory & Practice Review, 12(4), 137-153.
Cha Su Bong and kim jung hoon. 2024, "A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm", Legal Theory & Practice Review, vol.12, no.4 pp.137-153.
Cha Su Bong, kim jung hoon "A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm" Legal Theory & Practice Review 12.4 pp.137-153 (2024) : 137.
Cha Su Bong, kim jung hoon. A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm. 2024; 12(4), 137-153.
Cha Su Bong and kim jung hoon. "A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm" Legal Theory & Practice Review 12, no.4 (2024) : 137-153.
Cha Su Bong; kim jung hoon. A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm. Legal Theory & Practice Review, 12(4), 137-153.
Cha Su Bong; kim jung hoon. A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm. Legal Theory & Practice Review. 2024; 12(4) 137-153.
Cha Su Bong, kim jung hoon. A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm. 2024; 12(4), 137-153.
Cha Su Bong and kim jung hoon. "A brief review of the economic participation through the increase and decrease of the issuance of state-led legal currency and the emergence of Virtual assets as a new economic paradigm" Legal Theory & Practice Review 12, no.4 (2024) : 137-153.
