The Bilateral Relationship Between Cryptocurrencies and Good Governance from the Perspective of International Economic Law
Keywords:
Cryptocurrencies, International Economic Law, Good Governance, Regulation and State Responsibility, Transparency and AccountabilityAbstract
The emergence of cryptocurrencies and new financial technologies has created unprecedented challenges and opportunities for the system of international economic law. Despite the rapid expansion of this phenomenon, there remain serious gaps in the legal literature and in international policymaking regarding its status and regulation. These developments have affected the principles of good governance—formulated by the World Bank—and have highlighted the necessity of revising existing legal and institutional frameworks. This article employs a descriptive–analytical method and, with a focus on the indicators and principles of good governance as articulated by the World Bank, examines the legal status of cryptocurrencies within the framework of international economic law and analyzes the regulatory implications and the responsibilities of states in managing this phenomenon. The findings indicate that the realization of good governance in the field of cryptocurrencies requires the strengthening of transparency, accountability, regulatory quality, corruption control, and international coordination. The innovation of the present study lies in integrating the theoretical foundations of good governance with the practical challenges arising from cryptocurrencies, thereby proposing a framework for assessing state responsibility at the international level. This framework can assist policymakers and international institutions in designing effective and harmonized regulations.
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Copyright (c) 2025 Abolfazl Jongi (Author); Zeynab Pourkhaghan Shahrzaei; Leila Raisi Dezaki (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
