Public Law Studies Quarterly

Government Regulation in Combating Money Laundering Through Cryptocurrency: a Comparative Study of the Legal Systems of the Islamic Republic of Iran and Italy

Document Type : Article

Authors

kheirollah Parvin 1
Ali Allahyarifard 2

1 Prof., Department of Public Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran

2 Ph.D. student in Public Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran

https://doi.org/10.22059/jplsq.2023.357301.3290
Abstract
Cryptocurrencies have been presented as a destructive and resistant technology against the governments’ rule since their creation. The lack of uniform international standards in the field of cryptocurrencies, leaves room for interpretation by government actors. As a result, the attention of the governing institutions is mostly focused on the potential blocking of cryptocurrencies. But with the increasing move towards the smart economy, governments need to change their position from the policy of restriction to the policy of regulation and legislation and to strengthen their supervision over cryptocurrencies. The question is, how should government regulation and legal requirements on money laundering be applied to cryptocurrencies? Authentication of clients to buy cryptocurrency, creation of a regulatory and supervisory organization, registration of all contract-based cryptocurrency transfers, are among the answers to this question. This paper aims to determine the appropriate framework for regulation in terms of combating money-laundering through cryptocurrency.  Using a descriptive analytical method and library resources, we will comparatively study the Iranian and Italian government's strategy in this field.

Keywords

Iran
Italy
blockchain
money laundering
regulation
cryptocurrency
Subjects

  1. English

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Public Law Studies Quarterly
Volume 54, Issue 3
Autumn 2024
Autumn 2024
Pages 1549-1574

  • Receive Date 02 April 2023
  • Revise Date 18 September 2023
  • Accept Date 23 December 2023

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