The Evolution of Legislations in Recognizing Cryptocurrencies in the Arab World: A case study of the State of Qatar .

Document Type : Original Article

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Assistant Professor (Public Law Department) Qatar University

Abstract

This research aims to analyze the evolution of the legislative environment in Arab countries concerning the recognition of cryptocurrencies, focusing on Qatar as a case study. The study addresses the challenges encountered by Arab countries in developing legal frameworks that aligns with the rapid transformations in the digital economy, emphasizing the importance of maintaining financial stability, preventing financial crimes, and exploring the risks and opportunities related to cryptocurrency regulation. It also provides recommendations for enhancing the legislative environment to support sustainable economic development and uphold state sovereignty. A descriptive analytical approach was employed, utilizing reviews and analysis of legal and legislative texts, compared it with global developments in the field of cryptocurrencies, with a focus on evaluating the effectiveness of these legislations. The study implies that Qatar is adopting a cautious and systematic approach to cryptocurrencies, aiming  to develop a legal framework that strikes a balance between achieving financial innovation and protecting economic stability. However, it acknowledges the presence of legal and technical challenges that require further attention. The research highlights the importance of developing flexible and comprehensive legislations that aligns with international standards, contributing to the Arab countries stand in the global digital economy.

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