Designing a Conceptual Model for the Regulation Process of Crypto Assets based on Global Experiences

Document Type : Original Article

Authors

1 M.A., Department of MBA, Faculty of Management, Amirkabir University of Technology, Tehran, Iran.

2 . Ph.D. Candidate, Department of Oil and Gas Contracts Management, Faculty of Economics, University of Imam Sadiq, Tehran, Iran.

Abstract

In recent years, crypto assets based on the blockchain technology, have emerged as a transformative force across various sectors of the digital economy. The emergence of these assets presents both opportunities and risks, each with the potential to impact national and global economies. In response, many countries are seeking regulatory frameworks tailored specifically to their own economic systems, in order to effectively manage the complexities of the crypto landscape. The modus operandi of this study unfolded in three stages. First, it aimed to empirically investigate the emerging global trends in the regulation of crypto assets by conducting a systematic review and employing library-based research methods. Second, the study sought to identify the key factors influencing the regulation of crypto assets in Iran through expert interviews.
Finally, based on these findings, the article aimed to propose a strategic regulatory model that aligns with the country’s economic, legal, and jurisprudential frameworks. The findings highlight several critical factors that must be considered when regulating crypto assets in Iran. These include ensuring of compliance with Islamic principles, clearly defining the nature and the course of use of crypto assets, preparing the legal and economic infrastructures of the country, and addressing the diverse aspects of crypto assets separately in regulatory approaches. Furthermore, the study identifies four core components that should inform the regulatory strategy: the nature of the technology behind crypto assets, the specific conditions and exigencies relating to Iran', global trends, and the motivations behind the use of crypto assets. Finally, based on the evaluation of each, a strategic model for regulating crypto assets was presented with a country-wide perspective.

Keywords

References

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Journal of Defense Economics and Sustainable Development
Volume 9, Issue 34
December 2024
Pages 137-161

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