The ethics of cryptocurrencies: between financial freedom and social responsibility

Wojciech SÅ‚omski

Littera Scripta, 2025, vol. 18, issue 2

Abstract: This article provides an interdisciplinary ethical analysis of cryptocurrencies, positioning them as a complex socio-cultural and technological phenomenon that transcends traditional finance. By bridging the gap between moral philosophy, economics, law, and social theology, the study explores the fundamental tension between the promise of financial freedom and the necessity of social responsibility. The analysis evaluates three research hypotheses focusing on the emergence of moral risks, the role of institutions in mitigating inequality, and the potential of cryptocurrencies to serve the common good. Using the philosophical frameworks of Aristotle, Kant, and Rawls, the text examines critical issues such as transaction anonymity, the environmental impact of proof-of-work mechanisms, and the paradox of centralized power within decentralized systems. Furthermore, it addresses the regulatory landscape, specifically the EU's MiCA regulation, and contrasts the use of crypto-assets in developed versus developing economies. The study concludes that while cryptocurrencies offer significant potential for financial inclusion and individual autonomy, they can only be ethically integrated into the global system if governed by a new paradigm of transparency, solidarity, and environmental care. Ultimately, the article argues for a shift from a purely economic profit logic to an ethical framework rooted in justice and the common good.

Keywords: Cryptocurrency Ethics; Financial Freedom; Social Justice; Common Good; Environmental Responsibility (search for similar items in EconPapers)
Date: 2025
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