Abstract

This study of the reality of digital currencies ( Bitcoin as a model ) seeks to clarify , illustrate the legal nature that is relevant to this currency . Whereas some legal scholars indicated that Bitcoin has a financial value . While others indicated that it is deprived , stripped from the financial value .
And the matter did not stop at this point. Rather, we sought as researchers within the legal framework to show the importance of these currencies within the contemporary reality . It is necessary to be framed with officially comprehensive legal texts for the provisions of this currency . The purpose of this is to keep to deal by it from side and to avoid occurrence crimes by way of exchange with this currency in another side . And an example from these crimes is money laundering
This study is ended with a statement of the opinions of the jurists about its legal nature . The matter did not stop at this point, but we call upon the Iraqi legislator to pay great attention to this type of virtual financial currencies . Since the practical reality indicates an increase in the spread of the use of virtual currencies, including Bitcoin which in turn will lead to a change methods of the financial sector
After the details in above . This study was divided into two sections . The firs it was devoted to explaining the nature of Bitcoin and this topic was divided in turn into two demands
As for the second topic . It was devoted to explaining the legal nature of the Bitcoin currency . This topic was divided into two demands . The first is the legal nature of Bitcoin, while the second deals with the legal and methodological aspects of the Bitcoin currency. After this review, this study was followed by a conclusion, which in turn was divided into a number of conclusions . The most important of which is that dealing with encrypted currencies is done by its users without any regulatory or central authority. It is preferable that these electronic currencies are a penetration into a legal organization in Iraqi law, and this leads to the establishment of several crimes and financial transactions. In practice, it may lead to money laundering.
As for the recommendations, they were to urge the Iraqi legislator and the Iraqi state to pay great attention to this type of currency and not to rush in dealing with it quickly, and to benefit from the experiences of the countries that preceded us in this field, including the Gulf countries such as the Emirates, Bahrain, and others.