Cryptocurrencies Impact on Financial Markets: Some Insights on Its Regulation and Economic and Accounting Implications

  1. Parra-Domínguez, Javier
  2. Jiménez-Serranía, Vanessa
  3. De la Prieta, Fernando
  4. Corchado, Juan Manuel
  1. 1 Universitat Oberta de Catalunya
    info

    Universitat Oberta de Catalunya

    Barcelona, España

    ROR https://ror.org/01f5wp925

  2. 2 Universidad de Salamanca
    info

    Universidad de Salamanca

    Salamanca, España

    ROR https://ror.org/02f40zc51

Libro:
Blockchain and Applications

Editorial: Springer Verlag

ISSN: 2367-3370,  2367-3389

ISBN: 978-3-030-86161-2,  978-3-030-86162-9

Año de publicación: 2021

Volumen: 320

Páginas: 292-299

Tipo: Capítulo de Libro

DOI: 10.1007/978-3-030-86162-9_29 GOOGLE SCHOLAR

Resumen

Cryptocurrencies have become a trend (and, sometimes, a nightmare) for the financial sector. There are a multitude of news, opinions and criticisms about cryptocurrencies that need to be contextualized and pondered. This paper aims to explain some of the key legal issues regarding cryptocurrencies in the financial market and to analyze the highlights of one of the most recent regulatory proposals. The article introduces the real legal and financial reality surrounding cryptocurrencies and without which they could not develop. In line with the development of technology, this paper clarifies the volatility and the negativity of volatility for the development of cryptocurrencies, which are favoured by the development of accounting systems. Through a concrete example, the need for consistent accounting legislation and cash principles and rules observed in the importance of the cryptocurrency wallet and its implications on the current and traditional cash and bank-based management is incorporated in the present study.

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