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Cited by 43Digital Transformation in LawBlockchain Technology Applications and SecurityLegal principles and applications

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Bitcoins and other cryptocurrencies as property?

Open access
Low, Kelvin FK, Teo, Ernie GS·2017·Law, Innovation and Technology
DOI 10.1080/17579961.2017.1377915
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Abstract

The hype over bitcoins and other cryptocurrencies has been compared to the tulip mania in seventeenth-century Netherlands. As they have gained popularity, the law has approached the subject warily, mostly from a regulatory perspective. However, there has been no comprehensive consideration of the fundamental nature of a cryptocurrency owner’s private law relation to his cryptocurrencies. Whether or not cryptocurrencies achieve mainstream adoption, this question will inevitably have to be addressed. This paper considers if bitcoins and other cryptocurrencies might be recognised as the subject of property rights by Commonwealth courts and if so, what such rights ought to entail. It begins with a consideration of the controversial question of the scope of the law of property before considering bitcoin’s place within it. It suggests that the common law adopts a more expansive view of property than civilian systems and that it is thus able to accommodate bitcoins and other cryptocurrencies within its law of property. However, owing to their unusual nature, legal rights to them must take on a unique and unorthodox form. This paper also addresses the particular challenges to the law that are posed by the code underlying bitcoin.

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Crossref · 10.1080/17579961.2017.1377915

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  • Immutability in Bitcoin means the transaction histories recorded on the Bitcoin blockchain cannot be manipulated, deleted, or revised.

    “Immutability in Bitcoin means the transaction histories recorded on Bitcoin blockchain cannot be manipulated, deleted, or revised (Low and Teo 2017).”

    From Understanding the creation of trust in cryptocurrencies: the case of Bitcoin (2020) · cites this paper as Low and Teo 2017

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Metadata

Authors
Low, K. F., & Teo, E. G.
Affiliations
  • School of Law, Singapore Management University, Singapore, Singapore
  • IBM (United States) (US)
Venue
Law, Innovation and Technology
Publisher
Informa UK Limited
Published
2017-07-03
Volume
9
Issue
2
Pages
235-268
ISSN
  • 1757-9961 (ISSN-L)
  • 1757-997X
DOI
10.1080/17579961.2017.1377915
OpenAlex
W2761823024
Cited by
43
References
0
Citations by year
2026: 2 · 2025: 2 · 2024: 8 · 2023: 3 · 2022: 8 · 2021: 5 · 2020: 7 · 2019: 5 · 2018: 2
FWCI
8.99
Type
journal article
Language
en
Open access
Licence
other-oa
Locations
  • Law Innovation and Technology (publishedVersion)
  • Singapore Management University Institutional Knowledge (InK) (Singapore Management University) (submittedVersion, other-oa)
Topics
  • Social Sciences › Law › Digital Transformation in Law
  • Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
  • Social Sciences › Law › Legal principles and applications
Keywords
Bitcoin, cryptocurrency, property rights, property law, common law, private law relations

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