Crypto-Currencies Are Objects of Property Rights

Abstract

‘Crypto-currencies are objects of property rights just as chairs are objects of property rights.’ There has been some controversy over this statement. With the rapid development and popularity of cryptocurrencies such as Bitcoin, the research and application of cryptocurrencies have exploded. Given that cryptocurrencies themselves are still evolving as innovative Internet financial products, it is necessary to first make a preliminary determination on the basic issues of what cryptocurrencies are and what their legal properties are, and this article will focus on whether cryptocurrencies are objects of property. This essay will primarily address the issue of whether or not bitcoins are considered property. We must first define the ideas and standards of property, such as definability, third-party identifiability, exclusivity, and competition, in order to ascertain the legal characteristics of cryptocurrencies. The legal status of cryptocurrencies will be determined by examining the structure, traits, and classification of property. In the end, it is found that most nations and regions also recognize cryptocurrencies as objects of property rights and that they usually have the property of things.