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Type: Journal article
Title: Cryptocurrency and the Consideration Conundrum: Does Crypto Have Legal Value under Contract Law?
Author: Giancaspro, M.
Citation: Journal of Banking and Finance: Law and Practice, 2022; 33(1):3-20
Publisher: Thomson Reuters
Issue Date: 2022
ISSN: 1034-3040
Statement of
Mark A Giancaspro
Abstract: Cryptocurrency is a flagship technology of the Fourth Industrial Revolution. Millions of crypto trades are occurring daily, with the global crypto market now having an estimated capitalisation of US$2.47 trillion. It was inevitable that cryptocurrency's compatibility with existing legal frameworks would be questioned, though close to no attention has been devoted to its inherent legal value. Without a sufficient measure of such value, it cannot be consideration to support a contract for its sale. This article argues that contract law principles do not comfortably recognise value in cryptocurrency and calls for the conception of a comprehensive and detailed regulatory framework to resolve this and other conundrums afflicting cryptocurrency.
Rights: © 2022 Thomson Reuters (Professional) Australia Limited for further information visit or send an email to
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