ABSTRACT
Cryptocurrency is a flagship technology of the Fourth Industrial Revolution. Millions of crypto trades are occurring daily, with the global crypto market now having an estimated capitalisation of US$2.47 trillion. It was inevitable that cryptocurrency’s compatibility with existing legal frameworks would be questioned, though close to no attention has been devoted to its inherent legal value. Without a sufficient measure of such value, it cannot be consideration to support a contract for its sale. This article argues that contract law principles do not comfortably recognise value in cryptocurrency and calls for the conception of a comprehensive and detailed regulatory framework to resolve this and other conundrums afflicting cryptocurrency.
Giancaspro, Mark, Cryptocurrency and the Consideration Conundrum: Does Crypto Have Legal Value under Contract Law? (June 10, 2022), University of Adelaide Law Research Paper No 2022-13; (2022) 33(1) Journal of Banking and Finance Law and Practice 3.
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