The Examination of Cryptocurrency from a Civil Law Perspective

Abstract

This study examines the legal nature of cryptocurrency from the perspective of civil law, focusing on how cryptocurrencies can be integrated into the current Hungarian and Romanian private law systems. The author provides a detailed analysis of the historical and legal development of the concept of money, the functional characteristics of cryptocurrencies, and their applicability as a means of payment in contractual relations. The study highlights that cryptocurrencies are not recognized as legal tender and are often treated as barter instruments/ exchange rather than classical monetary payments. The paper aims to emphasize the legal challenges and the necessity of regulatory development regarding digital assets.