An article co-written by FMLC CEO Joanna Perkins and FMLC Project Secretary Jennifer Enwezor on the legal uncertainties arising from the proliferation of virtual currencies was published in the November issue of the Butterworths Journal of International Banking and Financial Law.
The article, which draws heavily on an earlier FMLC publication, reflects on the qualities of virtual currencies which would permit them to be classified within the traditional categories of property and personal rights established at Common Law, despite the multiplicity and diversity of virtual currency platforms in use. An overview of virtual currency schemes reveals that units of virtual currency can be convincingly categorised as a type of property, by dint of their widely-accepted economic value and transferability, and as money, owing to their status as a medium of exchange amongst a sizeable user community.
Please click here to open the article for download. Should you refer to it in your own work, the recommended citation is:  10 JIBFL 569.