International Law’s Perspecitve in The Legality of Bitcoin as A Currency

In 2008, an anonymous person calling himself Satoshi Nakamoto created Bitcoin. The basic idea for the creation of Bitcoin came after the 2008 global financial crisis caused by bad housing loans in the United States. Since then, Satoshi Nakamoto has designed a decentralized financial system that will later challenge the hegemony of the centralized financial system of conventional banks that has been used by humans for decades. Bitcoin showed very rapid development both in terms of users and in terms of price, and has been adopted as an official currency countries such as El Salvador and the Central African Republic as well as several large companies such as PayPal, Tesla, and Twitch. Nevertheless, there are no international regulations governing the use of Bitcoin or cryptocurrency as a means of payment in international trade. This paper aims to examine the extent of international regulation of the use of Bitcoin as a means of payment, and also to analyse the rules regarding the legality of Bitcoin in various countries in the world