Bitcoin, blockchain and gambling: legal and practical questions associated with the use of cryptocurrency in gambling
Abstract
The article provides an analysis of Bitcoin from legal point of view, as well as the virtual currency in general and the blockchain. In the first part it summarizes the basic characteristics of virtual currencies and the principles of their functioning from the point of view of non-legal scientific disciplines.
These findings are subsequently applied in the second part, which main concern is to analyse actual Czech law provisions that deals with Bitcion and cryptocurrency in general. Particular attention is devoted to the legal regulation of gambling, because both areas have more overlaps than might seem at first glance.
The final part is about how to effectively regulate these new technologies to benefit form their full potential not only in the field of gambling but also in general.