«Cryptocurrencies may become the new virtual tax havens and the Bitcoin the speculative bubble of the 21st century, used for money laundering, the financing of terrorism, and organized crime,» says Víctor Manuel España, UGR researcher
Víctor Manuel España Alba, researcher in Law from the University of Granada (UGR), has warned of the use of virtual cryptocurrencies, such as the Bitcoin, as a new tool for financial speculation and money laundering. He has presented these conclusions, obtained after researching for his doctoral thesis, at the “VIII Jornadas de compliance: nuevos retos de cumplimiento ante legislaciones globales”, a conference about global legislation and compliance recently held in Madrid.
«Cryptocurrencies may become the new virtual tax havens and the Bitcoin the speculative bubble of the 21st century, used for money laundering, the financing of terrorism, and organized crime,» says Víctor Manuel España, who belongs to the research team “Los nuevos retos del derecho en una sociedad globalizada. Derecho 3.0.” (The new challenges for the Law in a globalized society. Law 3.0).
«The use of cryptocurrencies is established under a heterogeneous and innovative group of payment instruments using blockchain technology, and they lack a physical form for the states to control or support them,» adds the researcher.
These conclusions were previously published in 2016 in the renowned journals on Law Diario la Ley and El Derecho. Víctor Manuel España’s doctoral thesis on the adverse effects of cryptocurrencies and the problem of their regulation and legal control was supervised by María de los Ángeles Cuadrado Ruiz, professor of Criminal Law at the University of Granada.
Bibliographic references:
- Bitcoin: un antes y un después en el blanqueo de capitales. Diario La Ley, Nº 8740, Sección Tribuna, Ref. D‑156, Editorial LA LEY.
Link (in Spanish): https://dialnet.unirioja.es/servlet/articulo?codigo=5413113
- Criptodivisas: Bitcoin y el blanqueo de capitales. Revista el Derecho, 2017. Lefebvre.
Link (in Spanish): https://elderecho.com/criptodivisas-bitcoin-y-el-blanqueo-de-capitales
Images:
The researcher Víctor Manuel España Alba and the supervisor of his thesis, María de los Ángeles Cuadrado Ruiz
The Bitcoin
Contact info:
Víctor Manuel España Alba
Faculty of Law, University of Granada
E‑mail: victoresalba@hotmail.com
