الاستثمار في العملات الافتراضية

Abstract EN

Virtual currencies are considered as a financial innovation.

Their use has spread, and their forms have varied, only to reach up to more than 4,400 currencies.

Their danger, however, lies in the fact that they are not backed up by a commodity or legal cover, i.e., they have no materialistic counterpart that may hide their user’s identity.

As funds can be transferred, at a high speed, from one country to another, via virtual currencies, the latter have become a safe cover for criminal acts.

This present study aims to explore the repercussions of investment in virtual currencies on the part of investors and users on one side, as well as on monetary and fiscal policies on another, by underlining the risks of virtual currencies investment, encountering the investor, as well as by highlighting the challenges facing the monetary and fiscal policies.

This is bound to limit them, confront them, and help work on avoiding them as much as possible, while winning the largest number of opportunities and potential gains and neutralizing the negative effects.

In order that the study may achieve its objectives, it is divided into four parts, in addition to an introductory one.

In the introductory part, the researcher will review the meaning of virtual currencies via explaining their definition and pursuing their origin and development.

The researcher will, then, present, in the first part, the most famous virtual currencies and their properties.

In the second, she will evaluate virtual currencies, by examining their advantages and disadvantages.

In the third part, the researcher will discuss the legal and economic description of virtual currencies, with a view to deciding the extent of their legality and finding out the possibility of considering them as money.

In the fourth and last part, the researcher will deal with the potential economic effects of investing in virtual currencies and the strategy of confronting them.

The study is rounded off with a conclusion in which most important results and recommendations are recapitulated.