University of Cumberland Week 12 Digital Currency Litigation Paper

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Computer Science

University of cumberlands

Description

Digital Currency Litigation Paper

Prepare a 3-5 page paper on the future of digital currency litigation and the implications for taxation. What are the pros and cons? How will this ultimately impact the business world?

Your paper should be 3-5 pages long (excluding the title and reference pages) and formatted according to APA.

Compose your essay in APA format, including the introduction and conclusion, and in-text citations for all sources used. In addition to your 3-5 page essay, you must include an APA-style title page and reference page.

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Explanation & Answer

Attached. Please let me know if you have any questions or need revisions.

Running head: DIGITAL CURRENCY LIGITATION

Digital currency litigation paper

Student’s name
Institution affiliation
Instructor
Course/number
Due date

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DIGITAL CURRENCY LIGITATION

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Future of digital currency litigation and the implications for taxation
Introduction
The digital currency has become common in the digital and financial sectors leading to
rising potential and actual lawsuits. Digital currency cannot be separated from their digital
platforms and coding that makes and keeps them; hence the legal battles concerning digital
currencies require expert witnesses from the technology world. Digital currency is a type of
currency that is found only in digital or electronic form. Other names of digital currency are
digital money, electronic money, electronic currency, or cybercash. Digital currency litigation is
mostly found in initial coin offerings (ICO), cryptocurrency trading sites, and smart contracts.
An example of litigation includes Tezos lawsuits, Kraken flashpoint of trade litigation, and the
ethererum DAO. Digital currency is, without a doubt, here to last with any benefits, including
low transaction costs, anonymity, and easy to use. However, it comes with many risks and
possible litigation and taxation issues (Brown-Hruska & Wagener, 2018).
The future of digital currency litigation
Lawsuits related to digital currency are similar to non-digital lawsuits regarding claims
of breach of contract, conversion, and fraud. However, the difference is that plaintiffs and
defendants on digital currency matters require experts to go on with their cases. Experts'
responsibility is to ex...


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