GLOBAL CRYPTOCURRENCY REGULATION: A COMPARATIVE ANALYSIS WITH A FOCUS ON ROMANIA POSITION

Tudor-Gabriel Budisteanu ()
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Tudor-Gabriel Budisteanu: Bucharest University of Economic Studies, Romania

Eurasian Journal of Economics and Finance, 2024, vol. 12, issue 2, 52-63

Abstract: This study provides an examination of cryptocurrency regulation across diverse jurisdictions, including Romania, Japan, Switzerland, Brazil, China, Russia, and the Republic of Moldova, with a focus on legislative, fiscal, and supervisory frameworks. Utilizing a qualitative and comparative analysis approach, the research aims to clarify global regulatory strategies, particularly the balance between fostering innovation and safeguarding investor interests, financial stability, and anti-money laundering protocols. Key findings highlight a spectrum of approaches: Japan’s pioneering legislative framework, Switzerland’s progressive policies, Brazil’s evolving regulations, and the restrictive measures in China and Russia, along with Moldova’s comprehensive ban on cryptocurrency services. Romania’s regulatory position is contextualized within this global framework, demonstrating a cautious but flexible stance that underscores the need for a balanced approach to regulatory policy. The study’s conclusions stress the importance of a robust and adaptable regulatory system to keep pace with technological advances in cryptocurrency. It advocates for international collaboration on regulatory standards and emphasizes the critical role of public education in responsible cryptocurrency use. Recommendations include ongoing monitoring of the cryptocurrency market and policy refinement to achieve a balanced approach that ensures innovation while protecting consumers and financial integrity.

Keywords: Monetary Policy; Blokchain; Cryptocurrency; Fiscal; Tax; Bitcoin (search for similar items in EconPapers)
Date: 2024
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